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Developing economies’ participation in global trade in commercial services

Author: 
Dr. Ajab Singh
Subject Area: 
Social Sciences and Humanities
Abstract: 

Despite the progressively expansion of global trade in services in developing economies today, with share of 31 percent in global exports and 38.7 percent in global imports of commercial services in the year 2015, and with 9.8 percent and 10.4 percent overall mean growth in exports and imports of commercial services in the span of 10 years (i.e. 2006 to 2015), whereas in the same span overall mean growth in exports and imports of commercial services in developed economies were 5.4 percent and 4.7 percent. Developing economies are more behind to developed economies in global trade of services in terms of percentage, having 66.8 percent and 58.2 percent share in world exports and imports of commercial services, in the year 2015. Participation of developing economies in exports of commercial services continues to lag behind in services of higher-skilled, such as charges for the use of intellectual property n. i. e., insurance and pension services and financial services, research and development, professional and management consulting services, and technical, trade-related and other business services. It remains challenges to these economies. This paper examines the participation of developing economies in world trade of commercial services, with a view to knowing both the challenges and achievements of several services in developing economies. Using UNCTAD Handbook of Statistics, UNCTAD Stat., latest trade trends jointly produced by WTO and UNCTAD according to BPM6 presentation and WTO’s statistical publication, We first highlight the developing economies at a glance. Second, highlights the share of developing economies in world trade of commercial services, structure of developing and developed economies’ exports of commercial services and comparison between them to investigate several parameters being world trade in commercial services of developing economies may go ahead in escaped global services. Finally, to analyze the developing economies’ global trade of commercial services.

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