Global trade in services is recovering in the second quarter of 2020, although it remains below pre-pandemic levels, the World Trade Organization (WTO) said on Thursday (24.09.2021).
The latest barometer index reading of 102,5 is above the global services trade activity index and above the reference value of 100, suggesting that the volume of services trade in the second and third quarters, for which official statistics are not yet available, will continue to recover.
According to the WTO indicator, the greatest recovery is found in global services (102,7), passenger air transport (105,6) and containers (106.8), while telecommunications services, information technologies (100,0) and financial services (100,2) register a recovery of the trend, while construction is below the trend (97.4).
"Trade in services fell sharply at the start of the pandemic, but unlike trade in goods, it has only partially recovered since then," he said.
Another element that can be observed is that the performance of trade in services during the 2008-2009 crisis is not the same as that observed now, since at that time it showed greater resistance than trade in goods.
Statistics for the second quarter of the year are expected to show a stronger recovery in trade in services, according to the WTO.WTO Press Release)
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