The World Trade Organization (WTO) recently released its latest global trade projections . The headline: sluggish global trade growth of 1.7% projected this year, well below the average of the past two decades. That’s not good news for a global economy beset by crises. The value of world merchandise trade was $25.3 trillion last year, a record, though inflated by high global commodity prices. The value of world commercial services trade hit $6.8 trillion, of which digitally delivered services exports accounted for more than half, or $3.8 trillion. That’s not good news for a global economy beset by crises. The value of world merchandise trade was $25.3 trillion last year, a record, though inflated by high global commodity prices. The value of world commercial services trade hit $6.8 trillion, of which digitally delivered services exports accounted for more than half, or $3.8 trillion. That last item bears a closer look: According to WTO estimates, global exports of digitally delivered services have grown in value nearly fourfold since 2005, rising 8.1% on average per year in the period 2005-2022, outpacing goods (5.6%) and other services exports (4.2%). This growth can be attributed to a number of factors, but unquestionably, the […]
Will the Threat of Electronic Duties Stifle Digital Transformation?
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