June 28, 2007
News Release 07-065
Inv. No. 332-345
Contact: Peg O'Laughlin, 202-205-1819

ITC REPORTS STRONG PERFORMANCE BY U.S. SERVICES FIRMS

U.S. service firms remained preeminent in global services trade in 2005, reports the U.S. International Trade Commission in its report Recent Trends in U.S. Services Trade, 2007 Annual Report.

The U.S. service sector accounted for 83 percent of gross domestic product and 85 percent of employment in the private sector in 2005. Moreover, it experienced a 10 percent growth in cross-border service exports in 2005 and an 8 percent growth in sales of services abroad by foreign-based affiliates of U.S. firms in 2004.

The ITC, an independent, nonpartisan, factfinding federal agency, compiles the report annually. The report presents a statistical overview of U.S. trade in services and highlights the services and geographic markets that contributed substantially to recent services trade performance. Separate chapters on specific service sectors (architectural, engineering, and construction (A/E/C); audiovisual, computer and related; electricity; health care; retail; securities; and telecommunication services) describe how each service is traded, compare recent trade performance to historical trends, identify trends and issues affecting competitive conditions in the industry, and summarize WTO members' negotiating proposals on the selected services.

The 2007 report covers trade in services from 2000 to 2005. Highlights of the report follow.

Recent Trends in U.S. Services Trade, 2007 Annual Report (Investigation No. 332-345, USITC publication 3925, June 2007) will be available on the ITC Internet site (www.usitc.gov). A CD-ROM of the report may be requested by calling 202-205-2000 or by writing the Office of the Secretary, U.S. International Trade Commission, 500 E Street SW, Washington, DC 20436. Requests may also be faxed to 202-205-2104.

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