Significantly, the software industry has achieved tremendous success in the international marketplace as well, and our industry's future is inextricably linked to our success abroad. Seventy percent of the world software revenue comes from U.S. products, and exports account for approximately half of the U.S. industry's output. As the global market for software continues to grow, international revenue will play an even more important role in our industry's continuing success. Impact of Software Piracy on Industry and U.S. Economy Mr. Chairman, as you and the other members of the Subcommittee know, the success of the U.S. software industry is due in large part to this country's historical commitment to strong intellectual property protection. The software industry's growth and its continued contribution to our economy is directly dependent on our ability as an industry and a nation to reduce software piracy.
Software piracy is, unfortunately, all too pervasive.
While our industry is still experiencing significant growth, piracy continues to take a toll on our industry's productivity and output. But as impressive as these statistics are, they are only half of the picture. The other half consists of the enormous job and revenue losses suffered as a result of piracy. Not just the software industry, but everyone. Reduced employment and lower government revenues manifest themselves throughout the economy.