International Trade in Services
Liberalizing trade in services is important for economic growth here and abroad. As an economy grows and matures, services tend to increase as a share of GDP and as a share of trade. The United States has a global competitive advantage in services, yet services remain highly protected abroad.
Services such as financial, insurance, transportation and storage, telecommunications, express delivery, and business services generate 68 percent of world GDP but account for just under 20 percent of global trade. While global advances in information and communications technology are making services increasingly tradable, existing trade barriers to services are significant. These barriers are currently subject to negotiation in a host of bilateral, regional, and multilateral trade talks.
Categories
- Trade Liberalization
- Firms That Engage in International Trade
- The Effects of Nontariff Barriers
- International Trade in Services
- Competitive Advantage in Services
- Larger Gains
- Foreign Direct Investment
- Contributions of Inward FDI
- The Contributions of Outward FDI
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