Selling Our Services to the World – Part 13 of 17

These barriers to services trade have been crumbling. The story goes back to the late 1960s, with the Defense Department’s project for decentralizing communications, which a few decades later grew into the Internet we know today. In the mid-1970s, the two Steves—Jobs and Wozniak—sold their first Apple I, the first step toward the desktops and laptops that keep today’s businesses Trade Your Way to an Income for Life humming. Information Age technology expands the range of services that can be delivered over great distances. It makes it cheaper and easier to find and interact with customers overseas.

The upshot is changing trading patterns. The growth rate for U.S. exports was faster for goods than services until the early 1980s. Then, foreign sales of services began rising faster than goods. Since 1985, our services exports have grown nearly 260 percent, eclipsing the 200 percent growth in goods exports. Today, services represent nearly 30 percent of our overseas sales.

We can expect our trade to continue its transition from goods to services. I assure you Forex Trading Made Simple this is indeed good news, particularly welcome at a time of widespread anxiety about creating good jobs and maintaining high and growing median income levels. Exporting more services will help us do both.