World Trade in Services: Evidence from A New Dataset

By Prakash Loungani, Saurabh Mishra, Chris Papageorgiou, Ke Wang

March 29, 2017

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Prakash Loungani, Saurabh Mishra, Chris Papageorgiou, and Ke Wang. World Trade in Services: Evidence from A New Dataset, (USA: International Monetary Fund, 2017) accessed December 21, 2024

Disclaimer: IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.

Summary

Using a newly constructed dataset on trade in services for 192 countries from 1970 to 2014, this paper shows that services currently constitute one-fourth of world trade and an increasingly important component of global production. A detailed analysis of patterns and stylized facts reveals that exports of services are not only gaining strong momentum and catching up with exports of goods in many countries, but they could also trigger a new wave of trade globalization. Research applications of the trade in service dataset on structural transformation, resilience, labor reallocation, and income distribution are outlined.

Subject: Economic sectors, Export performance, Exports, International trade, Service exports, Services sector, Trade in services

Keywords: Developing country, Economic growth, Export, Export data, Export growth, Export performance, Export service, Export value, Exports, Fce4d6, Global, Global economy, Globalization, Goods export, Sector-level data, Service export, Service exports, Services sector, Technology, Trade in services, Value, WP

Publication Details

Pages:

44
Volume:

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DOI:

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Issue:

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Series:

Working Paper No. 2017/077
Stock No:

WPIEA2017077
ISBN:

9781475589887
ISSN:

1018-5941

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