THE SERVICES ECONOMY

Services are essential inputs into the production of virtually all products.  The price and quality of services influence costs and productivity in all other sectors in an economy, including manufacturing and agriculture.  Thus, when liberalized and made more efficient, services have a strong effect in the competitiveness of an entire economy.

Services represent nearly 78% of US economic output and a similar proportion of employment.  US services exports exceeded $380 billion in 2005, andin 2006 the US enjoyed a services surplus of approximately $72.5 billion.

Click on the boxes below for more information on the importance of the services sector to the US economy:

State Data
Partial List of Export Services by Selected Kinds of Business for U.S States, 2002



For a spreadsheet of State Exports by Type of Services, click here.

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National Data

U.S. Crossborder Exports of Services by Major Category , 2002-2008
U.S. Crossborder Imports of Services by Major Category , 2002-2008
U.S. Crosssborder Exports of Private Services by Area and Country, 2002-2008
U.S. Crosssborder Imports of Private Services by Area and Country,2002-2008
Sales of Services by U.S. Foreign Affiliates, 2000-2006
U.S. Service Sector Employees by Major Industry, 2002-2008

 


U.S. Crossborder Exports of Services by Major Category, 2002-2008
(figures in U.S. $ millions)

    2002 2003 2004 2005 2006 2007 2008
  Total Services 292,299 304,342 353,072 389,122 435,873 504,784 549,602
  Government 12,738 14,125 16,740 20,626 25,068 26,648 23,816
  Total Private Services 279,561 209,217 336,332 368,496 410,805 478,136 525,786
  Travel 66,605 64,359 74,546 81,799 85,789 97,050 110,090
  Passenger Fares 17,046 15,891 18,851 20,970 22,036 25,636 31,623
  Other Transportation 29,195 31,416 36,957 41,281 46,225 51,550 58,945
  Royalties & License Fees 44,508 46,988 56,715 64,395 70,727 83,824 91,599
  Other Private Services 122,207 131,563 149,262 160,051 186,028 220,077 233,529
                 
  Sources: US Bureau of Economic Analysis
      
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U.S. Crossborder Imports of Services by Major Category, 2002-2008
(figures in U.S. $ millions)

    2002 2003 2004 2005 2006 2007 2008
  Total Services 231,069 250,365 291,224 313,540 348,972 375,215 405,287
  Government 22,021 28,427 33,077 34,054 40,213 37,004 40,921
  Total Private Services 209,048 221,938 258,147 279,486 313,919 338,211 364,366
  Travel 58,715 57,447 65,750 68,970 72,104 76,354 79,743
  Passenger Fares 19,969 20,989 24,718 26,149 27,501 28,437 32,597
  Other Transportation 38,407 44,705 54,161 61,937 65,318 67,100 72,143
  Royalties & License Fees 19,353 19,033 23,266 24,612 23,518 24,656 26,616
  Other Private Services 72,604 79,764 90,252 97,818 125,478 141,664 153,267
                 
  Sources: US Bureau of Economic Analysis      
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  US Crossborder Exports of Private Services by Area and Country, 2002-2008
(figures in U.S. $ millions)		  
  2002 2003 2004 2005 2006 2007 2008
  All countries 279,561 290,217 336,332 368,496 410,805 478,136 525,786
  Canada 2,4985 27,504 29,708 32,829 37,898 43,057 46,265
  Europe 114,041 122,781 144,788 156,218 173,926 207,684 228,319
  Latin America & Other Western Hemisphere 51,799 50,856 57,809 62,514 73,753 87,863 94,754
  Africa 6,829 7,276 8,246 7,877 8,963 10,452 11,607
  Middle East 9,537 10,720 15,229 18,570 22,206 22,621 24,457
  Asia and Pacific 78,530 79,666 91,177 104,350 114,046 127,642 138,182
  International Organizations & Unallocated 5,784 4,730 5,158 5,677 3,834 4,252 4,954
             
  Source: US Bureau of Economic Analysis      
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  U.S. Crossborder Imports of Private Services by Area and Country, 2002-2008
(figures in U.S. $ millions)
  2002 2003 2004 2005 2006 2007 2008
  All countries 209,048 221,849 257,235 280,563 313,919 338,211 364,366
  Canada 17,845 19,400 20,645 21,994 23,594 24,851 24,675
  Europe 101,453 110,501 ,122,412 134,315 150,426 164,213 175,062
  Latin America & Other Western Hemisphere 41,827 45,734 53,750 52,008 59,508 63,252 69,459
  Africa 2,865 3,570 3,982 4,250 4,787 5,617 6,522
  Middle East 8,581 12,092 16,483 18,108 18,401 19,073 21,534
  Asia and Pacific 52,227 52,603 64,932 73,730 83,007 89,401 98,712
  International Organizations & Unallocated 3,361 3,334 5,242 5,155 5,229 4,634 4,894
             
  Source: US Bureau of Economic Analysis      
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Sales of Services by U.S. Foreign Affiliates
(figures in U.S. $ millions)

          
    2000 2001 2002 2003 2004 2005 2006
  All Countries 413,470 421,714 423,508 452,496 642,840 725,036 806,310
  Canada 52,833 50,298 40,690 42,665 65,166 77,651 88,826
  Europe 213,763 225,992 228,570 242,157 366,899 412,624 457,921
  Latin America & Other Western Hemisphere 50,462 53,035 52,288 55,939 63,652 72,414 80,084
  Africa 2,978 3,177 3,405 4,103 8,108 10,008 10,469
  Middle East 3,745 2,569 2,365 2,400 3,446 4,026 5,478
  Asia & Pacific 89,689 86,643 96,191 105,233 135,569 148,313 163,533
                 
 

Source: US Bureau of Economic Analysis
Note: Beginning in 2004, The US Bureau of Economic Analysis changed their classification for sales by forein affiliates.

   
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U.S. Service Sector Employees by Major Industry
(figures in millions)

     
  Industry 2002 2003 2004 2005 2006 2007 2008
  Total Private Sector 108.8 108.4 109.8 111.7 114.2 115.4 114.6
  Total Service Sector 86.3 86.6 88.2 89.9 91.6 93.1 93.1
  Trade, Transport & Utilities 25.5 25.3 25.5 25.9 26.2 26.6 26.4
  Information 3.4 3.2 3.1 3.1 3.1 3.0 3.0
  Financial Activities 7.8 8.0 8.0 8.1 8.4 8.3 8.1
  Provessional & Business Services 16.0 16.0 16.4 16.9 17.6 17.9 17.7
  Education & Health 16.2 16.6 17.0 17.3 17.8 18.3 18.9
  Leisure & Hospitality 12.0 12.2 12.5 12.8 13.1 13.4 13.5
  Other Services 5.4 5.4 5.4 5.4 5.4 5.5 5.5
  Total Goods Sector* 22.6 21.8 21.9 22.1 22.6 22.2 21.4
                 
  *Total goods sector includes natural resources & mining, construction and manufacturing.        
  Note: Totals may not add up to a 100% due to rounding.        
  Source: US Bureau of Labor Statistics              
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Quick Facts
  • Services accounted for 78.3% of US private sector GDP in 2007 or $9.49 trillion.
  • Services jobs accounted for over 81.3% of US private sector employment or 93.2 million jobs out of total private sector employment of 114.6 million in 2008.
  • Between 1997 and 2007, services added 14 million new US jobs.
  • Services paid an average of $55,507 annually in 2007.
  • US income from services investment abroad was $251.6 billion in 2007.
  • Click here for data on specific services sectors in the US national economy.

Source: U.S. Bureau of Economic Analysis & U.S. Bureau of Labor Statistics

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