Monday, January 30, 2023

Intellectual property in US exports

loss America are one of the main producers and exporters of goods and Services According to a report by the World Trade Organization (WTO), that includes intellectual property.

According to estimates, intellectual property is present in approximately 60% of US merchandise exports and more than a third of US GDP is generated by intellectual property-intensive industries.

Commerce department (USDOC) determined that 81 branches of production out of 313 (25.9% of the total) made intensive use of intellectual property, meaning that collectively they generated about 40% of GDP.

A 2018 study found that the United States accounts for 31 percent of global knowledge- and technology-intensive business services and is the world’s leading producer of high-tech manufactured goods (also 31 percent).

From mid-2018 to early 2022, the United States continued to maintain a traditional surplus in its balance of payments for commercial operations related to intellectual property, as can be seen in the item corresponding to fees for the use of intellectual property.

In 2020, net income was $70.8 billion, a result of total revenue of $113.8 billion and payments of $43 billion.

Intellectual Property

In the first three quarters of 2021, revenues totaled $91 billion and payments totaled $34.7 billion, resulting in a surplus of $56.3 billion.

Intellectual property products as measured by the Bureau of Economic Analysis (bea) are original to R&D, computer programs and entertainment, literary or artistic.

These products are measured as fixed investments because they are used repeatedly in production processes and provide long-term service to the businesses, nonprofits, and government agencies that invest in them.

By this measure, private fixed investment in intellectual property products reached a figure of $1,079 trillion in 2020, i.e. about 5.4% of total GDP.

That year, the majority of total private investment in these products corresponded to research and development (about 49.9% of the total); Within this category, the main contribution was from research and development in the manufacturing sector (27.5% of the total).

In 2020, investment in computer programs accounted for 42% of the total, while investment in entertainment, literary or artistic originals accounted for about 8.1% of the total.

Nation World News Desk
Nation World News Deskhttps://nationworldnews.com
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