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Global services trade sustained recovery post-Covid pandemic: WTO

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New Delhi: World Trade Organization’s index capturing global trade in services outpaced that for goods, pointing to a possible shift in consumption pattern as Covid-19 cases receded.

World services trade continued to grow into the second quarter of 2022, indicating resilience to the conflict in Ukraine, according to the WTO’s Services Trade Barometer.

The reading of 105.5 above the previous reading of 102.5 in September 2021 and comfortably over the baseline value of 100 for the index signals that services trade is likely to post sustained gains in the second quarter once official statistics for the period are available, according to the WTO. “The services trade barometer is outpacing the Goods Trade Barometer, which points to a possible shift in consumption patterns away from goods and back toward services as the COVID-19 pandemic eases," the WTO said in a release.

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