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U.S. Digital Services Exports Surge to $626 Billion in 2022

U.S. digital services exports hit a record high in 2022, driven by strong demand in Asia and Europe. The growth reflects the increasing importance of digital services in global trade.

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This picture is clicked inside the room. In this picture, we see a table on which laptop, speaker,...
This picture is clicked inside the room. In this picture, we see a table on which laptop, speaker, monitor, keyboard, ball, mouse, scanner and papers are placed. In the left bottom of the picture, we see a table on which electronic goods are placed. Behind that, we see a wall on which charts and posters are pasted.

U.S. Digital Services Exports Surge to $626 Billion in 2022

The U.S. digital services sector has been a significant driving force in the nation's economy, with exports of such services accounting for a majority of all services exports for at least 15 years. In 2022, these exports made up 2.5% of the U.S. GDP.

Digitally-enabled services exports, which can be supplied remotely over ICT networks, include a wide range of industries. These services are not limited to traditional technology exports but also encompass financial services, cultural content, and more. In 2022, U.S. digitally-enabled services exports to the Asia & Pacific region reached $140.8 billion.

Over the past five years, these exports have seen a significant increase of 27.8%, rising from $489.7 billion in 2017 to $626 billion in 2022. This growth is partly due to the rising importance of these services in global trade, as seen in the strong trade volumes with countries like Ireland. Europe remains the strongest export market for U.S. digital services suppliers, with $307 billion in exports in 2022.

The U.S. digitally-enabled services exports have shown remarkable growth and resilience, with a 5.5% increase from 2021 to 2022. This growth reflects the increasing importance of digital services in the global economy and the U.S.'s strong position in this sector.

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