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NEWS RELEASE 04-072; JULY 12, 2004 July 12, 2004
News Release 04-072
Inv. No. 332-345

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

The U.S. service sector accounted for 76 percent of U.S. private-sector gross domestic product and 83 percent of private-sector employment in 2002, and it continued to exert a positive effect on U.S. trade performance due, in part, to increased services exports, reports the U.S. International Trade Commission (ITC) in its publication Recent Trends in U.S. Services Trade, 2004 Annual Report.

The ITC, an independent, nonpartisan, factfinding federal agency, compiles the report annually. 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 2002. These annual data are compared to the trend for the previous five years, the most recent period for which annual services trade data are available. The report also examines services provided to U.S. and foreign consumers by multinational firms' overseas affiliates. The sector-specific chapters conclude by discussing the factors that underlay growth or decline in these industries during 1990-2001. Highlights of this year's report follow:

The foregoing information is from the ITC report Recent Trends in U.S. Services Trade, 2004 Annual Report (Investigation No. 332-345, USITC publication 3703, June 2004). The report may be obtained from Publications section of the ITC Internet site at www.usitc.gov, 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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