The United States was the world's largest services market and was the top exporter and importer of services in 2021, according to a new report released by the U.S. International Trade Commission (USITC).
Preliminary data for 2022 indicate an increase of 15.9 percent in total services exports compared to the previous year.
The report, "Recent Trends in U.S. Services Trade, 2023 Annual Report," provides an in-depth review of distribution services, such as retail supply chains, e-commerce, logistics, warehousing, maritime shipping, port services, trucking and rail, air cargo, and express delivery via drones. The publication aims to summarize industry trends, analyze market conditions, and forecast future growth.
Key takeaways from the report include:
The report further reveals how the COVID-19 pandemic has challenged the global supply chain and distribution services while inciting innovative solutions to improve competitiveness.
In addition, the report presents the latest trends in transportation services, including maritime shipping, ports, trucking and rail, air cargo, and drone delivery, all of which have experienced disruptions due to the pandemic.
The 16th annual Services Roundtable, hosted by the USITC on November 2, 2022, provided a platform for discussion about the impacts of global economic and political shocks, including the COVID-19 pandemic and trade policy uncertainty, on distribution services.
The complete report is available on the USITC's website, along with an interactive dashboard offering further insights.
For more information, please visit: https://www.usitc.gov/publications/industry_econ_analysis_332/2023/recent_trends_us_services_trade_2023_annual_report.
No comments on this item Please log in to comment by clicking here