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NEWS RELEASE 02-053; June 19, 2002 June 19, 2002
News Release 02-053
Inv. No. 332-345

ITC REPORTS STRONG TRADE PERFORMANCE BY U.S. SERVICE INDUSTRIES AS EXPORT GROWTH ACCELERATES

The U.S. service sector, which accounted for 79 percent of U.S. gross domestic product in 1999 and 81 percent of the U.S. private-sector workforce in 2000, 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, 2002 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 2000, the most recent period for which annual services trade data are available. The report also compares the 2000 data to the trend of the previous five years. Industry discussions include a brief examination of issues and trends influencing competitive conditions. This year's report concludes with an examination of foreign direct investment in infrastructure service industries, such as the telecommunication, financial, and utilities service industries.

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, 2002 Annual Report (Investigation No. 332-345, USITC publication 3514, May 2002). The report may be obtained from the ITC Internet site (www.usitc.gov) or 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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