In: Finance
We often talk about manufacturing and goods related trade with China. What information can you find on trade in services between the two countries?
It is assumed that between two countries means: USA and
China.
And the answer is from point of view of USA.
Trade in services with China of exports and imports totaled an
estimated $77.3 billion in 2018.
Services exports- $58.9 billion; services imports- $18.4
billion.
The U.S. services trade surplus with China was $40.5 billion in
2018.
Exports:
U.S. exports of services to China were: estimated $58.9 - in
2018,
2.2% ($1.3 billion) more than 2017, and 272% greater than 2008
levels. It was up roughly 997% from 2001.
Leading services exports from the U.S. to China were in
the
1.Travel.
2. intellectual property (trademark, computer software).
3. transport sectors.
Imports:
U.S. imports of services from China were: estimated $18.4 billion-
2018, 5.5% ($963 million) more than 2017, and 68.3% greater than
2008 levels. It was up roughly 414% from 2001.
Leading services imports from China to the U.S. were in
the
1. transport
2. travel.
3. research and development sectors.
Trade Balance:
United States has a trade surplus (service) of an estimated $40.5
billion with China 2018, up 0.8% from 2017.
USA is leading in Service with China.