The us Role in International Services Trade

N. S. Frizyak ()

International Trade and Trade Policy, 2019, issue 2

Abstract: The paper illustrates the role of US in international trade with focus on services. Over the last decades the services sector has gained in international trade and the world economy, making more opportunities for the production, productivity, employment. While protectionist turn in the United States is intensifying uncertainty in the world economy, commercial services trade shows increase. After world services exports fell in 2015, and was restoring after, in 2017 it was up to 5,3 trillion dollars, with US leading. The US exports in services is characterized by high concentration in several countries, including Great Britain, Canada, Japan, China. Meanwhile the main country importing travel services from the US is China, Mexico, Canada. By type of services travel is accounted for the largest part of both exports and imports. The highest surpluses in trade of services are in financial sector, charges for the use of intellectual property, travel. The article highlights that US has recorded in the second decade a surplus on trade in services, making an overall trade deficit much less.

Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:acl:journl:y:2019:id:294

DOI: 10.21686/2410-7395-2019-2-25-33

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