For Immediate Release September 14, 2004 Contact: Bob Vastine (202) 289-7460 Services Trade Data for Second Quarter of 2004 Show Continued US Insourcing Competitiveness (Washington, DC) US services trade data for the second quarter of 2004 released today by the Bureau of Economic Analysis (BEA) show that US companies continue to export more professional, business, technical, and other private services to foreign companies and consumers than US companies outsource abroad. These US services exports are also known as insourcing. "BEA data underscore that US companies maintain their global competitiveness in insourcing sectors, such as professional, business, and technical, as foreigners buy more services from the United States than US companies outsource abroad," said President of the Coalition of Service Industries (CSI) Robert Vastine. According to BEA data, US exports of professional, business, technical, and other private services were $35.5 billion in the second quarter, which is $804 million higher than in the previous quarter. US imports of similar services, which include foreign call centers, data entry and back-office operations, increased $484 million and totaled $23.5 billion. The US surplus on these services grew from $11.7 billion in the first quarter to $12 billion in the second. Overall, US services exports in the first half of 2004 increased by $3.5 billion to $85 billion, exceeding imports by $13.7 billion. Exports in the sub-sector that includes professional, business, technical, and other private services grew the most. 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 was $51 billion in surplus last year. US services exports create new well-paid, high-skilled jobs in the US. 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.