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NEWS RELEASE 98-043; JUNE 10, 1998 June 10, 1998
News Release 98-043
Inv. No. 332-345

ITC REPORT FINDS CONTINUED STRONG TRADE PERFORMANCE BY U.S. SERVICE INDUSTRIES

The U.S. service sector, which accounted for 77 percent of U.S. gross domestic product and 78 percent of the U.S. private sector workforce in 1996, continues to exert a strong positive effect on overall U.S. trade performance, reports the U.S. International Trade Commission (ITC) in its publication Recent Trends in U.S. Services Trade, 1998 Annual Report.

The report presents a statistical overview of U.S. trade in services and provides industry-specific analyses focused on trends in exports, imports, and trade balances during 1995-96, the most recent period for which annual services trade data are available. This year's report concludes with an examination of the commitments scheduled for the 20 largest foreign telecommunication markets under the WTO agreement on basic telecommunication services. This examination is the first to identify precisely the many commitments that obligate U.S. trading partners to liberalize their markets for basic telecommunication services.

The ITC, an independent, nonpartisan, factfinding federal agency, publishes this report as a companion to its separate report Shifts in U.S. Merchandise Trade, issued annually in July.

Following are highlights of the report:

The foregoing information is from the ITC report Recent Trends in U.S. Services Trade, 1998 Annual Report (Investigation No. 332-345, USITC publication 3105, May 1998). The report will be available on the ITC Internet server at www.usitc.gov. A printed copy may be requested by calling 202-205-1809, or by writing the Office of the Secretary, U.S. International Trade Commission, 500 E Street SW, Washington, DC 20436. Requests may also be made by fax to 202-205-2104.

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