Notes

  1. 1 R&D-intensive manufacturing industries may engage in design, processes, or materials analyzed in the literature under several headings, including advanced manufacturing and intelligent manufacturing. Examples include additive or nano-based manufacturing and biotechnology and biomanufacturing. For additional information, see Brocal, Sebastián, and González (2019), IDA (2012), and PCAST (2020).

  2. 2 For business employment and labor costs in U.S. R&D-intensive industries, see Moris (2019) and Moris and Shackelford (2023).

  3. 3 See Thomas (2022) for comprehensive economic statistics on U.S. manufacturing.

  4. 4 See the Glossary section for the definition of total private services used in this report.

  5. 5 U.S. software investment was on par with the aggregate of computer and peripheral equipment and communications equipment at about $166 billion for both in 2004. Since then, software investment outgrew its tangible IT investment counterpart so that in 2021, the former is about twice the latter in current U.S. dollar terms ($512.4 billion vs. $262.8 billion); see BEA (2022).

  6. 6 For a comparison of long-term trends in manufacturing output and productivity in the United States, Japan, and Germany, see Baily, Bosworth, and Doshi (2020).

  7. 7 For information on related export controls and foreign investment regulations, see CRS (2022b, 2023a, 2023c).

  8. 8 See Bruner and Grimm (2019) for an analysis of BEA services trade by industry. For long-term trends in international services trade and automation, see Baldwin (2022).

  9. 9 See also Fu and Ghauri (2021) on intangibles and global trade imbalance.

  10. 10 Given the single-country perspective, additional domestic value added could be embedded in imported content; thus, data on domestic value-added content may be considered a lower bound on the level of domestic value added embedded in U.S. gross exports. Data are from a joint statistical project of BEA and the National Center for Science and Engineering Statistics within NSF; see BEA (2023a).

  11. 11 For analysis of services and GVCs across OECD countries, see Miroudot and Cadestin (2017).