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Trade Policies and the Global Economy: Scenario 4 Addressing Barriers to Services Trade

Author

Listed:
  • Carrico, Caitlyn
  • Stone, Susan
  • van Tongeren, Frank

Abstract

Generating more than two-thirds of global gross domestic product (GDP) and employing over seventy percent of workers in advanced economies, services are crucial to economic prosperity today and continual growth in the future. Today, trade in services accounts for twenty per cent of global gross trade and more than fifty per cent of the value-added in gross exports. Further, services trade is highly complementary with trade in goods, representing more than thirty percent of the value added of manufacturing exports. As the fourth industrial revolution progresses, trade in services, including digitally-delivered cross-border trade as well as traded services supporting global manufacturing, will continue to be a key driver of advanced economic development.

Suggested Citation

  • Carrico, Caitlyn & Stone, Susan & van Tongeren, Frank, 2019. "Trade Policies and the Global Economy: Scenario 4 Addressing Barriers to Services Trade," Conference papers 330200, Purdue University, Center for Global Trade Analysis, Global Trade Analysis Project.
    • Handle: RePEc:ags:pugtwp:330200
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    File URL: https://ageconsearch.umn.edu/record/330200/files/9391_Carrico.pdf
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    Keywords

    International Relations/Trade;

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