Published 11 September 2020 | 1 minute read
Download the UNCTAD's report international trade in services 2020 quarter one for the latest information about services in global trade. The report covers international trade in services.
This UNCTAD International Trade in Services 2020 Quarter 1 provides statistical data and an overview of services in global trade in the first quarter of 2020.
International trade in services
With the COVID-19 pandemic in Q1-2020, global services trade dropped heavily, by -7.6^ year-on-year, measured in current US$.
In seasonally adjusted terms, the quarter-to-quarter decline is estimated at -7.3%. As expected, the hardest hit service sector was travel that slumped by -24.4% year-on-year. Transport dropped by -8.6%. Other services, many of which can be traded remotely, resisted the crisis better and fell by -2% year-on-year.
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UNCTAD
UNCTAD is a permanent intergovernmental body established by the United Nations General Assembly in 1964. Their headquarters are located in Geneva, Switzerland, and they have offices in New York and Addis Ababa.
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