U.S. International Trade in Transportation-Related Services - Box 12-B

U.S. International Trade in Transportation-Related Services - Box 12-B

Components of Service Trade

Exports of freight transportation services occur when a U.S. carrier receives payments from a foreign company or individual for transporting merchandise. Imports of freight transportation services occur when a U.S. company or individual pays a foreign carrier for transporting merchandise. Similarly, U.S. exports of port services occur when foreign carriers purchase services and goods (e.g., fuel) at U.S. airports and seaports. U.S. imports of port services occur when a U.S. carrier purchases services and goods at ports in foreign countries. For passenger travel services, exports consist of fares received by U.S. carriers from foreign residents for travel between the United States and foreign countries and between two foreign points. Imports of travel services consist of fares paid by U.S. residents to foreign carriers for travel between the United States and foreign countries.

Source

U.S. Department of Commerce, Bureau of Economic Analysis, Survey of Current Business, November 2001.