International trade in services 2020 Quarter 1
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.
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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