For Immediate Release August 13, 2004 Contact: Bob Vastine (202) 289-7460 BEA Trade Services Data for June Show Continued US Insourcing Competitiveness Washington - "US exports of professional, business, technical, and other private services continue to grow as foreigners buy (or “insource”) more services from the United States than US companies outsource abroad," said President of the Coalition of Service Industries (CSI) Robert Vastine. According to trade data released by the Bureau of Economic Analysis (BEA) today, US exports (insourcing) of professional, business, technical, and other private services grew $0.8 billion from June 2003 to June 2004. US imports of similar services, which include foreign call centers, data entry and back-office operations, increased $0.7 billion. Overall, US services exports in June 2004 increased by $0.3 billion to $28.6 billion exceeding imports by $4.3 billion. Growth in insourcing has helped offset US losses in transportation accounts. In 2003, US exports of professional, technical, business, and other private services were $134 billion, $48 billion greater than US imports of such services. Total US services trade last year was $307 billion, $51 billion in surplus. US service industries create additional well-paid, high-skilled jobs in the US in part because they supply, or insource, these services to foreigners. In 2002, average annual incomes in professional, scientific and technical services were about $73,000. # # # # # CSI is the leading business organization dedicated to reducing barriers to U.S. services exports and mobilizing support for domestic U.S. policies, including tax policies, which enhance the global competitiveness of its members. CSI was formed in 1982 to ensure that U.S. trade in services would become a central goal of U.S. trade policy and trade negotiations. It played a major role in the General Agreement on Trade in Services (GATS) and in the advocacy effort leading to the 1997 World Trade Organization (WTO) Basic Telecommunications and Financial Services Agreements. CSI’s knowledge of the process of services trade negotiations, its ties to the WTO and its network of relationships with governments and industry in other countries are unmatched. For a complete list of CSI members, visit our website at www.uscsi.org.