When a country increases the number of people and businesses using the Internet and boosts speeds by one percent each, it exports 0.8 percent more goods, benefiting households and industries, writes John Wu in Innovation Files.

Fact of the Week: When a Country Increases Internet Subscriptions and Speeds by 1 Percent Each, Its Exports Increase by 0.8 Percent

The digital economy accounted for 9.6 percent of US GDP in 2019, or $2.05 trillion.

Fact of the Week: The Digital Economy Accounted for 9.6 Percent of GDP in 2019

Cross-border data flows represent a critical component of the increasingly digital global economy. A new study of Japanese firms estimates the influence these flows have had, finding that firms which transmit data internationally increase their productivity by 6.1 percent, on average.

Fact of the Week: Engaging in Cross-Border Data Transfers Increases Firms’ Productivity by 6.1 Percent

Fact of the Week: Engaging in Cross-Border Data Transfers Increases Firms' Productivity by 6.1 Percent

Increased Internet use boosted trade for countries’ exports by almost 2 percent between 2001 and 2012, writes John Wu in Innovation Files.

Innovation Fact of the Week: From 2001-12, Increased Internet Use Boosted Countries’ Exports by Almost 2 Percent

Innovation Fact of the Week: From 2001-12, Increased Internet Use Boosted Countries' Exports by Almost 2 Percent

When the prices for ICT capital goods decrease, consumers gain in the form of lower prices for ICT services, writes John Wu in Innovation Files.

Fact of the Week: Prices Consumers Paid for Wireless Phone and Data Services Dropped 18.6 Percent From 2002 to 2014, Mirroring an 18.4 Percent Decline in Prices for Telecommunications Infrastructure Technologies

Last week, the Bureau of Economic Analysis updated a recent paper on the digital economy to include more precise data, and it expanded the observed period to cover the years 1997 through 2017. In doing so, it found that the digital economy grew 9.9 percent annually over this 20-year period—4.3 times faster than the overall economy—and represented 6.9 percent of U.S. GDP as of 2017.

Fact of the Week: The Digital Economy Grew 4.3 Times Faster than the U.S. Economy Overall from 1997 to 2017

A recent working paper suggests that trade and technology restrictions in the U.S. not only reduce consumer welfare and exports, but also negatively influence other indicators such as foreign investment due to declines in associated technology transfer.

Fact of the Week: US Export Controls Reduce Foreign Direct Investment in the US by 13 Percent

In 2013, worldwide ICT imports totaled $2 trillion. Of that total, 87 percent was accounted for by signatories of the recently revised ITA, writes John Wu in Innovation Files.

Innovation Fact of the Week: International Trade in ICT Goods Totaled $2T in 2013

ICT services exports have increased as a share of the world’s total services exports from just over 20 percent in 1995 to almost 32 percent today, writes John Wu in Innovation Files.

Fact of the Week: ICT Services Exports as a Share of the World’s Services Exports Have Increased From Just Over 20 Percent in 1995 to Almost 32 Percent Today

Fact of the Week: ICT Services Exports as a Share of the World's Services Exports Have Increased From Just Over 20 Percent in 1995 to Almost 32 Percent Today

Fact of the Week: A 10 Percent Increase in Digital Connectivity Reduces Trade Costs by 2 Percent

Related

Fact of the Week: When a Country Increases Internet Subscriptions and Speeds by 1 Percent Each, Its Exports Increase by 0.8 Percent

Fact of the Week: The Digital Economy Accounted for 9.6 Percent of GDP in 2019

Fact of the Week: Engaging in Cross-Border Data Transfers Increases Firms’ Productivity by 6.1 Percent