Global trade in services record “zero growth” in 2012 second quarter

No growth was recorded for global commercial services exports in the second quarter of 2012, preliminary estimates by two bodies disclosed October 24, 2012.

According to preliminary estimates by the WTO and UNCTAD, in the second quarter of 2012, world exports of commercial services (balance-of-payments basis, current prices) recorded “zero growth” as compared with the same quarter in 2011, following the declining pattern of growth observed during the last four quarters.

World services had a 3% growth in the first quarter of 2012 from the 5% it had in the fourth quarter of 2011.

World trade estimates are aggregated from individual reporters’ quarterly balance-of-payments statistics taken from the IMF and Eurostat, or from national sources.

Figures are supplemented with UNCTAD/WTO estimates for missing data.

Quarterly data are released every three months.

By Ekow Quandzie