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

The data for the Partial List of Export Services for U.S. States is being updated.

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 , 2000-2006
U.S. Crossborder Imports of Services by Major Category , 2000-2006
U.S. Crosssborder Exports of Private Services by Area and Country, 1999-2005
U.S. Crosssborder Imports of Private Services by Area and Country, 1999-2005
Sales of Services by U.S. Foreign Affiliates, 1999-2004
U.S. Service Sector Employees by Major Industry, 2000-2006

 


U.S. Crossborder Exports of Services by Major Category, 2000-2006
(figures in U.S. $ millions)

    2000 2001 2002 2003 2004 2005 2006
  Total Services 299,490 288,426 292,299 302,681 344,426 380,614 413,127
  Government 14,576 13,370 12,738 13,579 16,426 20,125 17,827
  Total Private Services 284,914 275,056 279,561 289,102 328,000 N/A N/A
  Travel 82,400 71,893 66,605 64,348 74,547 81,680 85,697
  Passenger Fares 20,687 17,926 17,046 15,693 18.851 20,931 22,060
  Other Transportation 29,803 28,442 29,195 31,512 37,436 42,245 48,208
  Royalties & License Fees 43,233 40,696 44,508 46,988 52,512 57,410 62,051
  Other Private Services 108,791 116,099 122,207 130,561 144,654 158,223 177,284
                 
  Sources: US Bureau of Economic Analysis
      
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U.S. Crossborder Imports of Services by Major Category, 2000-2006
(figures in U.S. $ millions)

    2000 2001 2002 2003 2004 2005 2006
  Total Services 225,348 223,967 231,069 250,276 290,312 314,604 342,428
  Government 16,356 17,717 22,021 28,427 33,077 34,041 35,204
  Total Private Services 208,992 206,250 209,048 221,849 257,235 N/A N/A
  Travel 64,705 60,200 58,715 57,444 65,750 69,175 73,299
  Passenger Fares 24,274 22,633 19,969 20,957 23,723 26,066 27,306
  Other Transportation 41,425 38,682 38,407 44,705 54,161 62,107 65,611
  Royalties & License Fees 16,468 16,538 19,353 19,033 23,211 24,501 26,523
  Other Private Services 62,120 68,197 72,604 79,710 90,390 98,714 114,485
                 
  Sources: US Bureau of Economic Analysis      
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  US Crossborder Exports of Private Services by Area and Country, 1999-2005
(figures in U.S. $ millions)		  
  1999 2000 2001 2002 2003 2004 2005
  All countries 256,106 284,028 272,814 279,561 289,102 328,000 360,489
  Canada 22,578 24,560 24,346 24,896 27,137 29,471 32,506
  Europe 101,287 107,629 103,700 110,476 117,855 134,276 145,521
  Latin America & Other Western Hemisphere 50,773 54,418 52,937 51,419 49,595 56,026 60,811
  Africa 4,723 4,947 5,128 5,133 5,789 6,521 7,376
  Middle East 7,795 6,899 6,983 6,432 7,110 8,593 9,666
  Asia and Pacific 71,834 79,364 74,009 75,522 77,001 88,245 99,370
  International Organizations & Unallocated 6,116 6,210 5,709 5,686 4,618 4,867 5,229
             
  Source: US Bureau of Economic Analysis      
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  U.S. Crossborder Imports of Private Services by Area and Country, 1999-2005
(figures in U.S. $ millions)
  1999 2000 2001 2002 2003 2004 2005
  All countries 183,034 207,392 204,074 209,048 221,849 257,235 280,563
  Canada 16,063 17,711 17,203 17,763 19,217 20,626 22,022
  Europe 77,798 89,820 89,582 92,382 99,473 110,019 123,136
  Latin America & Other Western Hemisphere 33,838 38,090 40,194 41,487 45,452 53,891 53,071
  Africa 2,634 2,768 2,881 2,721 3,251 3,697 3,797
  Middle East 3,865 3,307 3,267 3,242 3,621 5,117 5,114
  Asia and Pacific 46,798 51,749 47,577 48,089 47,496 58,703 68,260
  International Organizations & Unallocated 2,036 3,946 3,370 3,365 3,335 5,181 5,168
             
  Source: US Bureau of Economic Analysis      
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Sales of Services by U.S. Foreign Affiliates
(figures in U.S. $ millions)

          
    1999 2000 2001 2002 2003 2004 2005
  All Countries 353,207 413,470 421,714 423,508 452,496 489,615 N/A
  Canada 34,741 52,833 50,298 40,690 42,665 46,892  
  Europe 198,673 213,763 225,992 228,570 242,157 264,221  
  Latin America & Other Western Hemisphere 41,551 50,462 53,035 52,288 55,939 57,030  
  Africa 2,536 2,978 3,177 3,405 4,103 4,746  
  Middle East 4,391 3,745 2,569 2,365 2,400 2,746  
  Asia & Pacific 71,315 89,689 86,643 96,191 105,233 113,985  
                 
  Source: US Bureau of Economic Analysis, Survey of Current Business, October 2006              
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U.S. Service Sector Employees by Major Industry
(figures in millions)

     
  Industry 2000 2001 2002 2003 2004 2005 2006
  Total Private Sector 111.0 110.7 108.8 108.4 109.8 111.7 114.2
  Total Service Sector 86.3 86.8 86.3 86.6 88.2 89.9 91.62
  Trade, Transport & Utilities 26.2 26.0 25.5 25.3 25.5 25.9 26.2
  Information 3.6 3.6 3.4 3.2 3.1 3.1 3.1
  Financial Activities 7.7 7.8 7.8 8.0 8.0 8.1 8.4
  Provessional & Business Services 16.7 16.5 16.0 16.0 16.4 16.9 17.6
  Education & Health 15.1 15.6 16.2 16.6 17.0 17.3 17.8
  Leisure & Hospitality 11.9 12.0 12.0 12.2 12.5 12.8 13.1
  Other Services 5.2 5.3 5.4 5.4 5.4 5.4 5.4
  Total Goods Sector* 24.6 23.9 22.6 21.8 21.9 22.1 22.6
                 
  *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 77.8% of US private sector GDP in 2005 or $8.5 trillion.
  • Services jobs accounted for over 80.2% of US private sector employment or 91.6 million jobs out of total private sector employment of 114.2 million in 2006.
  • Between 1996 and 2006, services added 15 million new US jobs.
  • 19.2 million new services jobs will be created by 2012, 90% of all new jobs.
  • Services paid an average of $51,136 annually in 2005.
  • US income from services investment abroad was $248.9 billion in 2005.
  • 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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