World Trade Report 2019

The future of services trade

image of World Trade Report 2019

Services have become the most dynamic component of global trade, with an increasingly important role in the global economy and in everyday life. Yet the extent of services’ contribution to global trade is not always fully understood. The World Trade Report 2019 attempts to remedy this by examining how trade in services is evolving and why services trade matters.

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Over the last few decades, services have become the backbone of the global economy and the most dynamic component of international trade. Services are increasingly easier to trade thanks in large part to digitalization. From online education to virtual law firms, technology is penetrating all services sectors, transforming services traditionally delivered face-to-face into remotely tradable services. Trade, long dominated by the exchange of goods, increasingly involves services, transforming the global economy in the process.

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