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0 The World Trade Organisation (WTO) has said that in 2023, world trade in goods and commercial services fell on average by 2% to US$ 30.5 trillion, on a balance of payments basis.
Trade in goods declined by 5% whereas services trade took an opposite trajectory, increasing by 9%.
As a result, the share of goods in global trade decreased from 77.8% in 2022 to 75.3% in 2023, while the share of services reached 24.7%, up from 22.2%.
Some four years after the start of the COVID-19 pandemic and its resulting impact on trade flows, this breakdown between goods and services mirrors the situation in 2019.
Read the full statistics here
The post WTO launches new interactive tool “World Trade Statistics 2023 — Key insights and trends” first appeared on 3News.
