World Trade Report 2019 focuses on the future of services trade

9 Oct 2019 01:02 PM

Today, in Geneva, the World Trade Organisation has published its latest World Trade Report, focused on the future of services trade.

Services have become the most dynamic component of global trade, with an increasingly important role in the global economy. The Report examines how trade in services is evolving and why services trade matters.

The Report uses a new dataset developed by the WTO that captures the various ways in which services are supplied across borders, providing a new estimate of the total value of services trade.

It examines major trends affecting trade in services, including demographic changes, digital technologies, rising incomes and climate change. The Report also looks at how services trade may evolve over the next 20 years and how it may contribute increasingly to inclusive growth and development.

The Report examines how costs for services are declining, largely due to the impact of digital technologies, and how this is expected to expand the share of services in global trade. It concludes that if economies are to reap the benefits of the growing role of services trade, international cooperation will need to intensify.

Some key findings:

You can find the full report here.