Trends and developments in commercial services trade

The Asia and Pacific region’s exports and imports of commercial services showed signs of a slowdown in 2012. This followed a quick recovery in 2010 and 2011 from the global economic crisis. Growth rates of services exports and imports almost halved in 2012 compared to the previous year (from 11.8 % to 6.3% for exports and from 13.8% to 7.7% for imports). In relative terms, the region has been performing better than the rest of the world since the early 2000s, and this is reflected in its growing share of world exports and imports of commercial services. For exports the share rose from 23% to 28% and for imports from 27% to 31%. With the exception of the global economic crisis dip, exports grew steadily. However, in 2012 the region still had an overall deficit in services trade (figure 2.1).

Related Subject(s): International Trade and Finance