India Ranks Fourth in Digital Services Exports

• 13 Apr 2024

On 10th April 2024, World Trade Organisation (WTO) reported a 9% increase in global digital services exports, reaching $4.25 trillion in 2023.

Key Points

• Continued Growth Amidst Global Trade Decline: Digital services exports thrive with an 11% rise in Europe and 9% in Asia, contrasting with the decline in goods trade.
• Service Breakdown: Business, professional, and technical services dominate with 41.2%, followed by computer and financial services.
• AI Pioneers Innovation in Digital Services: WTO highlights AI's rapid adoption, enhancing efficiency, innovation, and job creation in digital services.
• Optimistic Outlook: Rebound in Global Trade: WTO forecasts a 2.6% increase in global trade in 2024 after a 1.2% decline in goods trade volume.
• Expanding Digital Horizons: International trade embraces digitally deliverable services, reshaping industries and economies worldwide.