REPORT FINDS SERVICES VITAL TO AUSTRALIA’S EXPORT FUTURE

MELBOURNE, Dec 11 (Bernama) -- Australian services companies are
increasingly important to the national economy and are underpinning the broader
export sector, according to a report launched Friday.

Trade Minister Dr Craig Emerson launched the Services International Linkages
report which examines the importance of services to Australia's overall export
performance.

"The value of Australia's services trade is critical to our economy, and is
growing fast," he said in a statement.

The report found these businesses were generating more than A$100 billion
annually from their overseas operations alone.

And they are also playing an increasingly important role in making
Australia's export goods and moving them to market, in products as diverse as coal
and computers.

"The report is part of the Gillard government's efforts to step up our
engagement with our services industries and support the growing
internationalisation of the sector," Dr Emerson said.

"The findings support the priority the government attaches to the service
economy as a major component of Australia's overall economic activity and
prosperity."

The report also highlights the importance of 'embodied services' -- the value
created by the services used to help produce Australian goods and services for
export.

"Part of the value of all exports is created by the services used to produce
them. For instance, services such as transport, communications and insurance are
essential for the mining and manufacturing industries," Dr Emerson said.

"Next time you see a shipment of coal exports, remember that a quarter of the
value of that shipment is the embodied services that went into getting that
product out of the ground and to market."
-- BERNAMA