Global services trade posted a strong 10% year-on-year increase in the third quarter of 2024, building on solid growth in the first half of the year.

In the third quarter of 2024, transport sector saw a 14% rise as shipping rates climbed amid persistent disruptions on major trade routes. Global freight prices were nearly four times higher than in Q3 2023, at about US$4,500.

International travelers' expenditure in foreign economies increased by 10% in Q3 2024, and in the first three quarters of 2024, global travel receipts were 15% higher than pre-pandemic levels.

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%.

Source: WTO
Post by: Republic of Türkiye Ministry of Trade