Statistics
Quick Facts About Services
The
majority of
3
in 4 Canadians are employed in services industries and 80% of all new jobs
created in
Canadian
services exports were $62.3 billion in 2004; imports were $73.5 billion
Commercial
service exports grew at an annual rate of 7.7 percent over the period from
1990-2004
Services
constitute 67% of
Services
exports via foreign affiliate sales (investment) were 3 times that of
cross-border trade.
§
US
- less than 60%
§
EU -
18%
§
ROW
– 24%
Commercial
services exports are the most important and fastest growing sector of services
exports for
In
2004, commercial services – comprising of:
communications; construction;
insurance; other financial services; computer and information services;
royalties and license fees; non-financial commissions; equipment rentals;
management services (incl. legal); advertising and related services; research
and development; architectural, engineering and other technical services;
miscellaneous services to business; audio-visual services; and personal,
cultural and recreational services - accounted for 52.6 percent of services
exports and 49.5 percent of services imports – the largest share of Canada’s
services trade.
Services
trade barriers tend to be domestic regulations rather than border measures
Examples of Services Trade Barriers:
§
Limitations
on the right to invest or establish a business e.g. FDI restrictions; residency
requirements
§
Lack
of transparency on rules/regulation
§
Discriminatory
licensing requirements
§
Temporary
entry barriers/Visa processing delays
§
Limitations
on number of services providers or value of service transactions