Trade in Services

System enhances the collection and processing of statistics on international trade in services to better inform policymaking in eight African countries.

World trade hit a record $32 trillion in 2022, but growth turned negative in the last half of the year. Environmentally friendly products defied the trend.

The booming digital economy has heightened the need for new data and measurement tools to strengthen evidence-based policymaking.

New agreements will bolster joint efforts towards economic integration, sustainable trade and inclusive development in the region.

Countries without these statistics face barriers in implementing the policies needed to support businesses in adapting to and benefiting from digital tools and technologies.

UNCTAD nowcasts show that trade in services has not yet reached its pre-pandemic level, while merchandise trade is projected to have surpassed it by 15%.

ICT services grew to almost 14% of total services’ exports worldwide in 2020, while the long-term upward trend in digitally deliverable services trade rapidly accelerated.

Global Services Forum requests that UNCTAD provide the platform to boost dialogue and expand the services community given the power of services to unlock economic transformation and development in developing countries.

By UNCTAD Economists

Services sector remains hardest hit by the coronavirus pandemic, dropping to levels last seen in the 1990s, nowcasts from UNCTAD's 2020 Handbook of Statistics show.