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New BEA Estimates of International Trade in Digitally Enabled Services

Information and communication technologies (ICT) are increasingly changing how firms do business, how people communicate, and how international transactions take place. In 2014, the United States exported close to $400 billion in potentially ICT-enabled services, representing more than half of all U.S. exports of services, according a new report about trends in ICT and potentially ICT-enabled services by the Bureau of Economic Analysis (BEA). The new BEA estimates are part of a larger Department of Commerce effort to better measure the digital economy and cross-border data flows. 

Empowering Commerce Employees with the Latest Data Skills

Unlocking Opportunity: Economic Development through Open Data

Photo of Dr. Tyrone Grandison, Deputy Chief Data OfficerRecently, I had the opportunity to discuss the value of #OpenData at the #EDA2016. The Economic Development Administration's 2016 National Conference held in Washington DC, is where hundreds of regional and local economic development professionals, non-profit and private partners, and federal, state, tribal and local officials explored the top issues facing communities today relating to improving competitiveness, job growth, innovation and overall quality of life.

New Commerce Study Shows Women-Owned Businesses Making History but Still Significantly Less Likely to Win Federal Contracts

On Wednesday, March 2, the Small Business Administration (SBA) announced that for the first time, the goal of ensuring that women-owned businesses are awarded at least five percent of the federal government contracts for which they are eligible has been reached.1 SBA celebrated the news but noted that it plans to build on this achievement, as women-owned businesses are still under-represented when it comes to winning government contracts.

BEA Data Provide a Look into America's Shopping Carts

Consumer Spending GraphicAmerica's consumers spent more than $12 trillion last year on all kinds of stuff, including new cars, furniture, clothes, groceries, beauty products, electronics, visits to doctors and dentists, and tickets to sporting events and movies.

The Bureau of Economic Analysis produces a slew of data on what people buy and how much they spend.  It's a critical piece of economic information.  Consumer spending is a major shaper of the overall U.S. economy, accounting for more than two-thirds of GDP.  Beyond that, the statistics can help entrepreneurs and other business people make more informed decisions, offering insights into shoppers' buying behavior.

Natural Capital Website Unveiled Following Conclusion of Business Roundtables

Commerce Department Chief Economist Ellen Hughes-Cromwick Unveils Natural Capital Website at National Summit hosted by World Bank.The U.S. Department of Commerce created and unveiled a natural capital website to provide resources and information to businesses seeking to incorporate natural capital into their planning and operations. Natural capital refers to the Earth's stock of natural resources – air, water, soil, and living resources – that provide a range of goods and services on which the global economy depends.

Growing a Data Driven Government - The Commerce Data Academy

Photo of training class.As "America's Data Agency", the U.S. Commerce Department has made open data a central part of its mission.  Over the last year, the department has taken a number of steps to move this mission forward, including the hiring of a Chief Data Officer, Deputy Chief Data Officer and Chief Data Scientist. Last fall, the department also formally launched the Commerce Data Service, an in-house data science and consulting service, to help maximize the value of the vast data resources across the department. 

Innovation @ BEA: Exploring New Data Projects

Man pressing airplane icon.BEA is working on a variety of projects this year to bring new economic statistics your way. The goal is to give business people, policymakers and households additional tools to make informed decisions and deepen their understanding of the U.S. economy. At this point, it's too early for us to say exactly when these new statistics will be introduced, but here's a look at what we're planning.

Upcoming Natural Capital Business Roundtable set for Stanford Woods Institute for the Environment with Focus on Tech and Tourism

Photo of Stanford Woods InstituteThe fourth natural capital business roundtable will be hosted by Stanford Woods Institute for the Environment on December 9, 2015. Natural capital includes the air, water, soil and living resources that provide a range of goods and services on which the global economy depends.  The December 9th meeting will focus on the technology sector and tourism. Representatives from the private sector, non-governmental organizations and academia will come together with Commerce Department and local governmental officials for a day of brainstorming to identify the opportunities and challenges associated with integrating natural capital into business models. Commerce Department Chief Data Officer Ian Kalin will be the keynote speaker for the Stanford roundtable.

Bureau of Economic Analysis Releases Two New Data Sets to Deepen Understanding of U.S. Economy

Bureau of Economic Analysis LogoIn the past two days, the Commerce Department's Bureau of Economic Analysis (BEA) has released two brand new sets of economic statistics that business people, entrepreneurs, policy makers, households and others can use to make more informed decisions in their professional and personal lives.

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