WTO launches new interactive tool “World Trade Statistics 2023 — Key insights and trends”

The World Trade Organisation (WTO) has said that in 2023, world trade in goods and commercial services fell on average by 2% to US$ 30.5 trillion, on a balance of payments basis.

Trade in goods declined by 5% whereas services trade took an opposite trajectory, increasing by 9%.

As a result, the share of goods in global trade decreased from 77.8% in 2022 to 75.3% in 2023, while the share of services reached 24.7%, up from 22.2%.

Some four years after the start of the COVID-19 pandemic and its resulting impact on trade flows, this breakdown between goods and services mirrors the situation in 2019.

Read the full statistics here