Excerpt: “The third quarter of 2024 saw services exports rise by 16 per cent in Asia, followed by 8 per cent in Europe, while North America, South and Central America and the Caribbean expanded by 7 per cent. Marked growth was also recorded on imports across regions, reflecting high demand for diverse services. Services are the bright spot of trade, with growth of 9 per cent year-on-year in the first three quarters of 2024 (Chart 1). This is in sharp contrast with goods trade, which was up by only 2 per cent over the same period. … Digitally deliverable services such as computer, financial, business and insurance services were the main drivers of growth. Computer services continued their impressive rise in January-September 2024, with cumulative exports surging globally by 13 per cent (Chart 2). Rapid growth in computer services exports was recorded both in developed and developing economies, including a sharp increase of 77 per cent in Indonesia and strong growth of 37 per cent in Mauritius and 18 per cent in the United States.” (footnote omitted)
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