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Can someone clear up if "services" are included. I read quite often claims that state if services were included, the US would be in a trade surplus. But in my
by tiffanyh 1y ago
Can someone clear up if "services" are included.
I read quite often claims that state if services were included, the US would be in a trade surplus.
But in my own rudimentary research, it appears services are in fact included.
Can someone confirm.
- jihadjihad 1y agoThey are included. The US typically runs a trade deficit in goods and a surplus in services, but it can change [0]. 0: https://tradingeconomics.com/united-states/balance-of-trade/news/453736 https://tradingeconomics.com/united-states/balance-of-trade/...
- corimaith 1y agoThe Trade Balance definition is murky depending on who you ask, it's better to use the Current Account Balance that includes trade balance amongst other things as an indicator of net flows. The Current Account does explicitly include goods & services, and the US is running a hefty deficit today.
- mtoner23 1y agoYes it includes services and we still run a deficit. Trump's definition though does exclude services which leads to the confusion. In services on its own we run a surplus but it doesn't make up for the larger goods deficit