Selling Our Services to the World Part 11 of 17
To be sure, we must compete with the Brits, the Europeans, the Japanese, the Aussies and everyone else for this business. But U.S. firms have already proven to be stellar at selling their services to the world. We already export more services than any other nationby a long shot. Our Predict Market Turning Points foreign sales of nearly $500 billion in 2007 exceeded the combined total of the next two services exporters, Britain and Germany. Better still, most of what we sell abroad are highly valued servicesand the numbers prove it.
The Bureau of Economic Analysis divvies up services exports into 20 categories. In three-fourths of them, U.S. exports exceed imports. Our edge is nearly 24 to 1 in industrial engineering, which includes American technicians who install computerized control systems, design industrial robots and streamline supply chains. Marquees all over the world tout our movies, and we have a 13-to-1 trade ratio in the distribution of films and television shows. We are 241- Forex crackerjack suppliers of construction services, information management, legal and financial services, and education. Because of our deep reservoir of copyrights and patents, what we receive from foreigners in licensing fees and royalties exceeds what we pay to other countries by better than 2 to 1.
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