US Services Trade in 2000
Feb 21, 2001

By Harry Freeman and Jaime Niño 21 February, 2000

US Services exports were a record $295 billion and services imports were $215 billion for a surplus of $79.8 billion according to statistics released 21 February by the Bureau of Economic Analysis of the US Department of Commerce. The surplus was down $0.8 billion from the figure of $80.6 billion for 1999. The University of Michigan forecast of the services trade published at SItrends in November 20, 2000 was remarkably “on the money”. It forecast a services trade balance of $80.8 billion for 2000.

The actual figure was $79.8 billion. For next year, 2001, their forecast is $75 billion, nearly a $5 billion decline from 2000. The combined goods and services trade deficit last year was $369.7 billion, up $104.7 billion from 1999. The 2000 goods trade deficit reached $449.5 billion, rising by $103.9 billion from the 1999 figure. Total U.S. exports of both goods and services for the year 2000 reached a record $1.1 trillion. A link to the Department of Commerce Press Release and the Michigan Forecast are available at the end of this report.

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