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Basic Guide, Service Exports

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CHAPTER 6: SERVICE EXPORTS

The United States is the world's premier producer and exporter of services. Encompassing all economic activity other than agriculture, mining, and manufacturing, the service sector is the largest component of the U.S. economy, accounting for 76 percent of private sector output and 80 percent of private non-farm employment (over 78 million jobs in 1995).

U.S. services exports more than doubled over the last seven years -- increasing $100 billion since 1987, and $51 billion just since 1990. In 1994, U.S. services exports exceeded imports by $60 billion (offsetting 36 percent of the deficit on merchandise trade). Major markets for U.S. exports ...

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