Market Research: IT Industry Contribution to GDP
Subject: Industry SpecificAuthor: US Department of Commerce (DoC) / Bureau of Economic Analysis (BEA)
Source: eMarketer
According to the US Department of Commerce’s (DoC’s) 2003 Digital Economy report, the fifth annual study of its kind, the gross domestic product of US IT-producing industries this year will be over $871 billion.
The DoC explains that such industries contribute to roughly 8% of overall GDP in the country. The DoC notes that the software and services industry is the IT-producing industry that will output the most this year with over $328 billion in GDP. The hardware industry, however, will experience the greatest growth in output over last year rising by 9.8%.
The report presents the GDP, full-time equivalent worker (FTE) and productivity -- measured as GDP divided by FTE -- growth of designated IT-intensive and less IT-intensive industries in the US. It notes that productivity for all industries between 1989 and 2001 grew by 1.6%. For IT-intensive industries, however, it grew at a much higher 3.03% for the given time period. Less IT-intensive industries displayed productivity growth of just 0.42%.
View Chart
Click Here to View
posted by Victor Lloyd Smith @ 12:40 PM
0 Comments:
Post a Comment
<< Home