World exports of commercial services fall sharply

World exports of commercial services slowed sharply in the fourth quarter of 2011, trade statistics have shown.

The statistics, jointly released by the World Trade Organisation (WTO) and the UN Conference on Trade and Development (UNCTAD) late March 2012 showed that in the fourth quarter of 2011, preliminary estimates of world exports of commercial services rose by 3% year-on-year (balance-of-payments basis, current price, not seasonally adjusted).

Despite the rise in the quarter, both said “This is significantly lower than the 12% year-on-year increase recorded in the third quarter.”

Starting this year, statistics on international trade in services released by the WTO and UNCTAD are being produced jointly by the two organizations in an effort to improve data quality, avoid duplication and consequently provide more transparent data to users of these statistics.

By Ekow Quandzie