The U.S. economy and the economies of other developed countries are increasingly dominated by service industries. U.S. market share in these industries is an indicator of its competitiveness.
The U.S. share of world market-oriented knowledge-intensive service
revenue remained constant at around 40% between 1995 and 2005.
While the U.S. share of business and ﬁnancial service revenue remained constant or increased between 1996 and 2005, the U.S. share of communications services revenue declined from 42 to 39% between 1996 and 2005.
China's ﬁnancial services sector has historically been that country's highest grossing market-oriented, knowledge-intensive sector, accounting for 8% of the world ﬁnancial services value-added and ranking third behind Japan's ﬁnancial services sector in 2005.
China's communications service industry grew at an average annual rate of nearly 20% between 1995 and 2005, reaching 7% of the world communications service value-added in 2005.
The service sector is driving economic activity around the world, accounting for nearly 70% of global economic activity in 2003 (SEI 2008
Market-oriented , knowledge-intensive services are driving the growth in the service sector, accounting for 30% of gross service revenue in 2005, with an average annual growth rate of 4.8% between 1986 and 2005 (SEI 2008