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Trade in Services for Development Report

Swetha 04/07/2023
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Trade in Services for Development Report Who Released by World Bank World Trade Organization Highlights 3X Increase in global commercial services exports (2005-2022) Fuelled by ICT advances Marked changes in services trade composition 4X increase in export of digitally delivered services Impressive trade performance by developing economies Leading services exporters and importers China Hong Kong Singapore India China's global commercial services exports Increased from 3% (2005) to 5.4% (2022) Jobs directly linked to cross-border services exports Account for over 10% of total services sector jobs in India South Africa Türkiye Recommendations for India and the Philippines Upskill and reskill workforces Invest in domestic services sectors' development (especially R&D) On India Doubled share of global commercial services exports from 2% (2005) to 4.4% (2022) Services value-added >51% of total exports (2018) Popular destination for medical travel Hosted 3.5 million foreign patients (2009-2019) From both developed and developing countries Reforms facilitating FDI in services Aiding positive growth dynamics Boosting participation in foreign manufacturing value chains

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