By: kekepana.com
Still working my way through Commerce’s new report on U.S. services trade. If you were with me yesterday, you have a sense of what services America buys and the services that we successfully export. What might surprise you is that the United States has a trade surplus for services with almost any country you can think of. Our biggest surplus is with Canada, but we also sell more than we buy with Japan, Ireland, Brazil, the United Kingdom, Mexico and even the current bogeyman of trade, China.
Who do we buy and sell services with?
Who do we have a deficit with? India is not too surprising, given all those computer services we buy from them. But our biggest deficit of all? Bermuda! Who knew that Bermuda was a major trading partner? But most of the re-insurance that our insurance companies buy from overseas comes from Bermuda companies. Who knew? Other big re-insurers include Switzerland, Caribbean nations, Ireland, Germany and the United Kingdom.
