Miscellaneous maintenance and repair services was the fastest-growing service category over that five-year period via a 52.9% gain. In second place were telecommunications, communication and computer services via a 30.4% uptick.
World’s Fastest-Growing Export Services
Below are the world’s fastest-growing export services as of 2016.
- Miscellaneous maintenance and repair services: US$78 billion (up 52.9% since 2012)
- Telecommunications, communication and computer services: $481.6 billion (up 30.4%)
- Charges for use of intellectual property: $313 billion (up 19.9%)
- Miscellaneous business services: $1.052 trillion (up 16.5%)
- Financial services: $410.4 billion (up 11.9%)
- Unallocated services: $6 billion (up 11.7%)
- Travel services: $1.174 trillion (up 8.2%)
- Commercial services: $4.764 trillion (up 7.2%)
- General services: $4.833 trillion (up 7%)
- Personal, cultural and recreational services: $39.3 billion (up 0.9%)
Not all categories of export services increased in value from 2012 to 2016.
Loss leading categories were miscellaneous government goods and services (down -12.7%) and construction services (down -9.7%).
Other declining services-related categories were manufacturing services on physical inputs owned by others (down -4.8%), transportation services (down -4.3%) as well as insurance and pension services (down -0.1%).
See also World’s Top Export Services and Top Providers of International Services by Country
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on August 9, 2017.
Trade Map, International Trade Centre, www.intracen.org/marketanalysis. Accessed on August 9, 2017