TheCityUK is pleased to announce the release of its quarterly report from TheCityUK’s Independent Economists Group – The Economics of Trade in Services. The research report discusses the crucial role services can play in global trade and their ability to drive economic growth. Trade in services has been growing strongly in recent years and this pattern is likely to be encouraged further by the development of the digital economy. However, services account for three-quarters world GDP, but only about 20% of world trade, in part because: |
Alongside this analysis, the report makes several recommendations, including a call for more accurate and timely data on international trade in services. To ensure this, the Group advocates closer engagement between TheCityUK, the Office for National Statistics and the UK Statistics Authority to help prioritise and improve data on trade in services. Download your copy of the report here and find out more about the trade in services and TheCityUK's policy recommendations. |