WTO publish World trade statistical review for 2023

The World Trade Organisation published the World trade statistical review for 2023

Computer, Computer Hardware, Keyboard, Electronics, World Trade Statistical Review

The World Trade Organisation’s (WTO) public forum, which started on September 12 in Geneva, was a place for WTO to present the new annual trade statistical review for 2023. A part of the report is dedicated to the digital trade and e-commerce stats.

Digitally delivered services– that is, services provided via computer networks, from streaming games to remote consulting services – are an emerging source of growth, accounting for 54% of global services exports in 2022, and 12% of total global trade in goods and services.

The report notice that Europe accounts for more than half of global exports of digitally delivered services. Its growth levelled off in 2022, largely due to the depreciation of the euro and the British pound against the US dollar. Asia’s exports have been rising most, covering almost a quarter of the world’s digitally delivered services. Growth in Africa and LDCs continued to lag behind, with Africa holding less than 1% share of world exports of digital goods in 2022.

The WTO Director-General, Ngozi Okonjo-Iweala in her message added that: ‘by working together, governments can update the regulatory and policy frameworks needed to harness the full potential – and minimize the risks – of new digital technologies’

WTO’s public forum last until September 15, and is a place for the public discussion related to trade and commerce issues