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U.S. Exports' Strong Suit


Economic Trends

U.S. EXPORTS' STRONG SUIT

Although the greenback's weakness and economic growth overseas should help trim the widening U.S. merchandise trade deficit, Jack W. Lavery of Merrill Lynch & Co. argues that it is America's surging services exports that should really take off.

The reason: Compared with goods, the export of services--including travel, financial transactions, insurance, royalties, and fees--is more concentrated in areas where currency shifts and economic momentum are enhancing America's trade prospects. Last year, for example, while Latin America and Canada accounted for one-third of U.S. trade in goods, some three-fourths of America's growing $60 billion trade surplus in services was racked up in Western Europe, Japan, and Southeast Asia.BY GENE KORETZ


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