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World Trade in Services: Evidence from A New Dataset
Author:
Mr. Prakash Loungani
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Mr. Saurabh Mishra null

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Mr. Chris Papageorgiou
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Ke Wang
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Series:
IMF Working Papers
Volume/Issue:
Volume 2017: Issue 077
Language:
English
Publication Date:
29 Mar 2017
DOI:
https://doi.org/10.5089/9781475589887.001
ISBN:
9781475589887
ISSN:
1018-5941
Pages:
44
Keywords:
WP; export; service export; fce4d6; developing country; value; Trade in services; sector-level data; technology; globalization; economic growth; export growth; export service; goods export; export data; export value; global economy; Service exports; Exports; Export performance; Services sector; Global
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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Using a newly constructed dataset on trade in services for 192 countries from 1970 to 2014, this paper shows that services currently constitute one-fourth of world trade and an increasingly important component of global production. A detailed analysis of patterns and stylized facts reveals that exports of services are not only gaining strong momentum and catching up with exports of goods in many countries, but they could also trigger a new wave of trade globalization. Research applications of the trade in service dataset on structural transformation, resilience, labor reallocation, and income distribution are outlined.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund