Trends and developments in commercial services trade

A slow-down of merchandise exports by Asia-Pacific economies during 2013 was also accompanied by continued stagnation of its commercial services exports in contrast to a modest worldwide recovery in services exports. For the first time since 2004 with the exception of 2009 (figure 2.1), the Asian and Pacific region’s growth in trade of commercial services lagged behind global growth. World export growth jumped from 2.4% in 2012 to 5.6% in 2013, increasing the export value to more than $4,600 billion, led by the recovery of European Union exports, which accounted for almost one half of world services exports.

Related Subject(s): International Trade and Finance