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Introduction

image of Introduction

Services matter for economic growth and development. In most non-oil-producing sub-Saharan African countries, the services sector now makes up the largest part of the economy and, as countries develop, the importance of the services sector tends to rise further. Services represent the fastest growing sector of the global economy accounting for about 70% of global GDP, one third of global employment and approximately 20% of global trade measured in gross terms, but 42% of global trade measured in value added terms. The performance of the services sector in developing countries during the past decade has had positive impact on national competitiveness, income growth, employment and poverty reduction in both urban and rural areas.

Related Subject(s): International Trade and Finance
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