📈 Global Economic Impact of Services Exports in 2023

Services Exports as a Percentage of Gross Domestic Product (GDP)

In 2023, the global ratio of services exports to GDP stood at 7.6%. Advanced economies had a higher ratio, with services exports accounting for 9.3% of their GDP, compared to 5.1% for emerging markets and developing economies. Although advanced economies contributed 59% of global GDP, they accounted for 72% of total services exports.

The European Union led with a services exports-to-GDP ratio of 16.4%, significantly higher than North America's 3.9%. India also stood out, with a services exports-to-GDP ratio of 9.4%—more than double the global average.