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digital economy

New BEA Estimates of International Trade in Digitally Enabled Services

Information and communication technologies (ICT) are increasingly changing how firms do business, how people communicate, and how international transactions take place. In 2014, the United States exported close to $400 billion in potentially ICT-enabled services, representing more than half of all U.S. exports of services, according a new report about trends in ICT and potentially ICT-enabled services by the Bureau of Economic Analysis (BEA). The new BEA estimates are part of a larger Department of Commerce effort to better measure the digital economy and cross-border data flows. 

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Commerce Brings Stakeholders Together to Improve Digital Economy Metrics

Improving Digital Economy Metrics Today, the National Telecommunications and Information Administration (NTIA) and the Economics and Statistics Administration (ESA) convened a roundtable to discuss what data is needed to better measure the economic importance of the cross-border information flows that connect people and businesses across the globe. Representatives from the government, private sector, academia, and public interest community spent the morning going through existing resources, identifying gaps, and evaluating what the Commerce Department could be doing to improve its digital economy metrics.

Digitally Deliverable Services Remain an Important Component of U.S. Trade

Last year, DOC economist Jessica Nicholson and I wrote "Digital Economy and Cross-Border Trade: The Value of Digitally-Deliverable Services." In that report, we estimated the total value of U.S. trade in digitally-deliverable services—i.e., services that may be, but are not necessarily, delivered digitally. Since the publication of our report, we have received many requests to provide updated data on this valuable sector of our economy.

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