Thursday, April 19, 2012

United States Is the Largest Services Trading Country in the World

©Laurel Delaney 2012, "United States Flag"
According to Ron Kirk's article Rethinking 'Made in America,' the U.S. service sector currently accounts for four out of five American jobs.
The U.S. is the largest services trading country in the world, with $1 trillion in two-way trade in 2011 and a services trade surplus last year of $179 billion (up 23% from 2010). In what economist Bradford Jensen defines as the fastest-growing services sectors, Bureau of Economic Analysis data show that the U.S. in 2010 had a trade surplus of $57 billion with the Asia-Pacific region, of $44 billion with the European Union, of $35 billion with the countries covered by the North American Free Trade Agreement (Canada and Mexico), and of $25 billion with the rest of Latin America. America's robust services exports reduced its overall trade deficit by 24% in 2010. 
Read the entire fabulous article by Ron Kirk:  Rethinking 'Made in America'

1 comment:

SBA 7a said...

Well, we must be proud on ourselves that there are so many nations are out there leading in a number of international markets but still here we are, being the Largest Services Trading Country of the world.

~SBA 7a