Error processing SSI file
NEWS RELEASE 00-073; JUNE 5, 2000 June 5, 2000
News Release 00-073
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 in 1997 and 79 percent of the U.S. private-sector workforce in 1998, 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, 2000 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 1997-98, the most recent period for which annual services trade data are available. This year's report concludes with an examination of recent efforts to renew services trade negotiations under the auspices of the World Trade Organization (WTO) and some of the U.S. objectives of these negotiations.

The ITC, an independent, nonpartisan, factfinding federal agency, publishes this report as a companion to its separate annual 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, 2000 Annual Report (Investigation No. 332-345, USITC publication 3306, May 2000). The report will be posted in the Publications and Reports area of the ITC Internet site 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.

ITC general factfinding investigations, such as this one, cover matters related to tariffs or trade. The investigations are generally conducted at the request of the U.S. Trade Representative, the Senate Committee on Finance, or the House Committee on Ways and Means; the ITC may also self-initiate investigations. The resulting reports convey the Commission's objective findings and independent analyses on the subjects investigated. The Commission makes no recommendations on policy or other matters in its general factfinding reports. Upon completion of each investigation, the ITC submits its findings and analyses to the requester. General factfinding investigation reports are subsequently released to the public, unless they are classified by the requester for national security reasons.

-- 30 --