Home Page

About Us



New Laws/Regs



Opeds and Speeches


Contact Us



Services Trade Balance Experiences Important Decrease In 2002
Feb 22, 2003

<< 1 2 3 
  • Comment Board
  • Imports of Travel and Other Transport Services, which had dropped by 6.5% in 2001 after September 11, exhibited almost no change in 2002. Passenger Fares kept its declining trend at a similar rate than that shown in 2001. In turn, Passenger Fares continued to decline at a similar rate in 2002.

    A significant portion of the increase in imports of other private services was accounted for by insurance services, which dropped sharply in 2001 as a consequence of large nonrecurring insurance claims received following the terrorist attacks of September 11, 2001. It is important to note that under the BEA methodology, imports of insurance services are calculated as premiums paid to foreigners for primary insurance and reinsurance, less claims received.

    Direct Defense imports grew for second year in a row. This had been the only category that experienced positive growth in 2001.

    The significant changes taken place within U.S. services imports during the past three years have changed the contribution that these categories make to the total U.S. services imports. While Travel, Passenger Fares and Other Transport have significantly lowered their participation, Royalties and License Fees, Other Private Services and Direct Defense Expenses have gain share in the Total U.S. Services Imports.

    The dynamic growth experienced by Other Private Services imports has increased their contribution to the level with which this category contributes to U.S. services exports. As a result, Other private services now make up one-third of U.S. imports and constitute the largest import category.

    << 1 2 3 

    Comments [Add Comment]

    No comments posted as of 10/20/2007.

    About Us | Statistics | New Laws/Regs
    Library | Facts | Opeds and Speeches | Links | Contact Us

    Copyright © 2000, The Mark Twain Institue.
    This web site was programmed and designed by Americaneagle.com, Inc.