The future of global service trade is clear

The future of global service trade is clear

In recent years, with the development of information technology, the deepening of the international division of labor, the global pattern of trade in services is undergoing profound changes, the future trend is becoming increasingly clear.

From the global distribution of the service sector, the share of national service sectors in all income categories has increased in GDP

The service industry is the basis for the development of trade in services. World Bank data show that from 1997 to 2014, all income countries in the service sector in the proportion of GDP have improved. Among them, the high-income countries increased from 69.5% to 73.9%, middle and high income countries from 48.9% to 56.9%, middle-income countries from 48.1% to 55.8%, low-income countries from 40.4% to 47.7%. From the geographical distribution, in 2014, in addition to the Middle East and North Africa, the value-added services in all regions accounted for more than 50% of GDP.

In terms of size and growth, international trade in services grew at a higher rate than GDP and trade in goods.

During the 24 years from 1990 to 2013, the growth rate of international trade in services has undergone three major changes: First, the growth rate of international trade is more than the growth rate of global GDP; the second is that the export growth of trade in services exceeds the growth rate of export of goods; Third, nearly 10 years, transition economies, developing countries, trade and export growth rate of more than developed countries, of which the transition economies, the fastest growing export. The rapid development of international trade in services has brought the scale of global trade in services to a new level. From 2005 to 2015, the scale of global trade in services has doubled, close to US $ 10 trillion. In 2015, although the global trade growth rate is lower than the economic growth, and there is a negative growth of 13.23%, but the decline in the growth rate of trade in services is still lower than the trade in goods.

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