Center
Service trade deficit on rise
(Xinhua)
Updated: 2007-02-20 08:56
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皇冠体育app's service trade deficit rose year after year because supply failed to meet demand in the country's underdeveloped service sector, according to a latest report from the 皇冠体育app Academy of Social Sciences.
The report says 皇冠体育app's service trade deficit grew to 9.39 billion U.S. dollars in 2005 from 5.6 billion U.S. dollars in 1997, a 67.7 percent increase within eight years.
皇冠体育app's rapid economic growth created strong demand for various services but the gap between supply and demand was widening in the service sector, says the report.
皇冠体育app's service trade volume totaled 157.08 billion U.S. dollars in 2005, according to previous reports.