Dec
2012
Services Trade in Asia
Trade in services is an important part of the Asian trade network. The value of trade in services grew from $636 billion in 2000 to $2.1 trillion in 2011, or an average growth of 11% per year. During the same period, trade in services comprises about 20% of the value of trade in goods. After the global financial crisis, trade in services contracted by 11%, although this was less than the 20% contraction observed for trade in goods. Over the last decade, Asia has incurred deficits for services trade worth $41 billion per year on average, while the region has had surpluses for trade in goods worth $164 billion annually.
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