Error processing SSI file
NEWS RELEASE 03 052; June 5, 2003 June 5, 2003
News Release 03-052
Inv. No. 332-345

ITC REPORTS CONTINUED STRONG TRADE PERFORMANCE BY U.S. SERVICE INDUSTRIES DESPITE REDUCED TRADE VOLUME

The U.S. service sector, which accounted for 81 percent of both U.S. private-sector gross domestic product and U.S. employment in 2001, continued to exert a positive effect on U.S. trade performance despite reduced services exports that year, reports the U.S. International Trade Commission (ITC) in its publication Recent Trends in U.S. Services Trade, 2003 Annual Report.

The report presents a statistical overview of U.S. trade in services and provides industry-specific analyses focused on exports, imports, and trade balances during 2001, the most recent period for which annual services trade data are available. The report also compares the 2001 data to the trend of the previous five years. The report also examines services provided to U.S. and foreign consumers by multinational firms' overseas affiliates. Industry discussions include a brief examination of issues and trends influencing global competitive conditions.

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, 2003 Annual Report (Investigation No. 332-345, USITC publication 3599, May 2003). The report may be obtained from the Publications section of 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.

-- 30 --