1 UNCTAD Handbook of Statistics 2017 - International trade in services

Fact sheet #5: Total trade in services

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7 and more

2 to less than 7

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-2 to less than 0

-7 to less than -2

Less than -7

Value of exports(Billions of US$)

Annual growth rate(Percentage)

In this chapter, in accordance with the concepts of the balance of payments (International Monetary Fund, 2009) and of the national accounts (United Nations et al., 2009), services are understood as the result of a production activity that changes the conditions of the consuming units, or facilitates the exchange of products or financial assets. Services are not generally separate items over which ownership rights can be established. They cannot generally be separated from their production.

Trade in services, as represented by the data in this chapter, takes place when a service is supplied in any of the following modes: from one economy to another (services cross the border); within an economy to a service consumer of another economy (consumer crosses the border); through the presence of natural persons of one economy in another economy (supplier crosses the border) (United Nations et al., 2012).

Concepts and definitions

Stagnation in world services trade

World services exports reached US$4.9 trillion in 2016, one third of the value of merchandise exports. Thereby global trade in services remained stagnant for two years, after a period of steady growth from 2009 to 2014.

Services exports come mainly from developed economies. These together accounted for two thirds of total services exports. However, several Asian developing economies also played an important role. The top five Asian developing economies captured almost 15 per cent of the world market share in 2016, the same share as all other developing economies combined.

Many economies in Africa and South America, where services exports had already been low, recorded a further decrease in 2016.

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Map 1 Exports of services, 2016

Figure 1 World services exports(Trillions of United States dollars)

UNCTAD Handbook of Statistics 2017 - International trade in services UNCTAD Handbook of Statistics 2017 - International trade in services 1

Strong slowdown in Africa and transition economies

A review of the changes in exports and imports by development status and region in 2016 reveals a diverse picture. Services imports dropped dramatically in transition economies (-11 per cent). Also African (-10 per cent) and, to a lesser extent, American (-4 per cent) developing economies recorded a strong decrease. In Africa this fall was accompanied by a considerable reduction of exports (-6 per cent). Developed economies, in contrast to developing ones, recorded rising services imports and exports.

Leading services exporters

The world’s top services exporter in 2016 was the United States of America, with US$752 billion worth of services sold internationally, representing 15 per cent of global exports, followed by four European Union member States that jointly took one fifth of the world market. Among developing economies, the main players in services trade were located in Asia, led by China (US$208 billion) and India (US$162 billion). China’s services exports were greater than those of the Netherlands, at number five among developed economies.

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De v e l o p i n g e c o n o m i es

A f r i c a

A m e r i ca

A s i a a n d O c e a n i a

T r a n s i t i o n e c o n o m i es

De v e l o p e d e c o n o m i es

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I m p o r t sExpo r t s

R e p u b l i c o f Ko re a

Hong K o n g SAR

S i n g a p o re

I n d i a

Ch i n a

0 2 0 0

Exports from developing economies

N e t h e r l a n d s

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Ge rm an y

U n i t e d K i n g d o m

U n i t e d S t a t e s o f Am e r i ca

0 2 0 0 4 0 0 6 0 0 8 0 0

Exports from developed economies

Globaltrade in servicesstagnant fortwo consecutive years

FiveAsian economiesaccount for half of services exports fromdevelopingeconomies

Africanservices importsfell by 10% in 2016

The United Statesof America supplied services worth US$752 billionto other economies

Figure 2 Services trade annual growth rates, 2016(Percentage)

Figure 3 Top services exporters, 2016(Billions of United States dollars)

For references, see UNCTAD Handbook of Statistics 2017, annex 6.4.