Quarterly bulletin (Q4 2023)
With 8.9% annual rise in current dollar values, world services exports surpassed US$7.9 trillion in 2023.
For the fourth quarter of 2023, the quarter-on-quarter seasonally adjusted growth rate of services exports was estimated at 0.5%, pointing to a slowdown in global services trade over the last few months of 2023. Region-wise, Q4 witnessed mixed year-on-year services trade trends, with the highest relative expansion recorded for Asia and Oceania.
The main driver of the year-on-year rise of services exports in Q4 2023 was the ample growth of international travel receipts. Year-on-year (YoY) quarterly growth was negative for transport in all 4 quarters.
