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Digital Trade and U.S. Trade Policy - FAS

Digital Trade and Trade Policy Updated December 9, 2021 Congressional Research Service R44565 Congressional Research Service SUMMARY Digital Trade and Trade Policy As the global internet expands and evolves, Digital Trade has become prominent on the global Trade and economic Policy agenda. According to the Department of Commerce, the Digital economy accounted for of gross domestic product (GDP) in 2019 and supported million jobs, or of total employment in 2019. From 2005 to 2019, real value added for the Digital economy grew at an average annual rate of per year, outpacing the growth in the overall economy each year. Digital Trade has been growing faster than traditional Trade in goods and services, with the pandemic further spurring its expansion.

cloud data storage and email. In 2020, U.S. exports of information and communications technologies (ICT) services increased to $84 billion, while services exports that could be ICT-enabled totaled $520 billion. Digital trade is growing on a global basis, contributing more to GDP than financial or merchandise flows.

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