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NEWS RELEASE 99-073; JUNE 1, 1999 June 1, 1999
News Release 99-073
Inv. No. 332-345

ITC REPORTS STRONG TRADE PERFORMANCE BY U.S. SERVICE INDUSTRIES DESPITE SLOWER EXPORT GROWTH

The U.S. service sector, which accounted for 77 percent of U.S. gross domestic product and 79 percent of the U.S. private-sector workforce in 1997, 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, 1999 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 1996-1997, the most recent period for which annual services trade data are available. This year's report concludes with an examination of the professional services sector, discussing wage levels and employment growth in the sector and recent efforts to liberalize trade in professional services.

The ITC, an independent, nonpartisan, factfinding federal agency, publishes this report as a companion to its separate annual report on manufactures and agricultural commodities, Shifts in U.S. Merchandise Trade, issued annually in June/July.

Following are highlights of the report:

Recent Trends in U.S. Services Trade, 1999 Annual Report (Investigation No. 332-345, USITC publication 3198, May 1999) will be available on the ITC's 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 faxed to 202-205-2104.

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