PRESS/855  
8 April 2020 
(20-2749) Page: 1/13 
  
 
  
PRESS RELEASE  
E M B A R G O  
N O T  F O R  P U B L I C A T I O N ,  O R  D I S T R I B U T I O N  B Y  N E W S  A G E N C I E S  
U N T I L  1 5 : 0 0  H  G E N E V A  T I M E  8  A P R I L  2020  
 
TRADE STATISTICS AND  OUTLOOK  
Trade set to plunge as COVID -19 pandemic upends global 
economy  
World trade is expected to fall by between 13% and 
32% in 2020 as the C OVID -19 pandemic disrupts 
normal economic activit y and life around  the world.  
The wide range of possibilities for the predicted 
decline is explained by the unprecedented nature of 
this health crisis and the uncertain ty around its  
precise economic impact. But WTO economists 
believe the decline will likely exceed the trade 
slump brought on by the global financial crisis 
of 2008-09 (Chart 1).  
Estimates of the expected recovery in 2021 are 
equally uncertain, with outcomes depending largely 
on the duration of the outbreak  and the 
effectiveness of the po licy responses . 
"This crisis is first and foremost a hea lth crisis 
which has forced  governments to take 
unprecedented measures to protect people ’s lives ," 
WTO Director -General Roberto Azevêdo said.   
"The unavoidable declines in trade and output will 
have p ainful consequences for households and 
businesses, on top of the human suffering caused 
by the disease itself. ” 
“The immediate goal is to bring the pandemic under 
control and mitigate the economic damage to 
people, companies and countries. But policymakers  
must start planning for the aftermath of the 
pandemic,”  he said.   
MAIN POINTS  
•World merchandise trade is set to 
plummet by between 13 and 32% 
in 2020  due to the COVID -19 pandemic.  
•A 2021 recovery  in trade is expected, 
but dependent  on the duration of the 
outbreak and the effectiveness of the 
policy responses.  
•Nearly all regions will suffer double -
digit decline s in trade volumes in 
2020 , with exports from North America 
and Asia hit hardest.  
•Trade will likely fall steeper in 
sectors with complex value chains , 
particularly electronics and automotive 
products.  
•Services trade may be most directly 
affected  by COVID -19 through transport 
and travel restrictions.  
•Merchandise trade volume already 
fell by 0.1% in 2019 , weighed down by 
trade tensions and slowing economic 
growth. The dollar value of world 
merch andise exports in  2019 fell by 3% 
to US$ 18.89 trillion.  
•The value of commercial services 
exports rose 2%  to US$ 6.03 trillion 
in 2019.  PRESS/855  
- 2 - 
  “These numbers are ugly – there is no getting around that. But a rapid,  vigorous rebound is 
possible. Decisions taken now will determine the future shape of the recovery and global growth 
prospects . We need to lay the foundations for a  strong, sustained and socially inclusive recovery. 
Trade will be an important ingredient here, along with fiscal and monetary policy . Keeping markets 
open and predictable, as well as fostering a more generally  favourable business environment, will 
be critical to spur the renewed investment we will need.  And if countries work together, we will see 
a much  faster recovery than if each country  acts alone. " 
 
Chart 1 - World merchandise  trade volume, 2000 -2022  
Index, 2015=100  
 
 
 
Source:  WTO Secretariat.  
Trade was already slowing in 2019 before the virus struck, weighed down by trade tensions and 
slowing economic growth. World merchandise trade registered a slight decline for the year 
of -0.1% in volume terms after rising by 2.9% in the previous year. Meanwhile, the dollar value of 
world merchandise exports in 2019 fell by 3% to US$ 18.89 trillion.  
 
In contrast, world commercial services trade increased in 2019, with exports in dollar terms rising 
by 2% to US$ 6.03 trillion. The pace of expansion was slower than in 2018, when services trade 
increased by 9%. Details on merchandise and commercial servic es trade developments are 
presented in Appendix Tables 1 through 4 and can be downloaded from the WTO Data Portal at 
data.wto.org.  
Outlook for trade in 20 20 and 202 1 
The economic shock of the C OVID -19 pandemic inevitably invites comparisons to the global 
financial crisis of 200 8-09. These crises are similar in certain respects but very different in others. 
As in 2008 -09, governments have again intervened with monetary and fiscal policy to counter the 
downturn and provide temporary income support to businesses and households. But restrictions on 
movement and social distancing to slow the spread of the disease mean that labour supply, 
transport and travel are today directly affected in ways they were not during the financial crisis. 
Chart 1: World merchandise trade volume, 2000-2022
Index, 2015=100
Source: WTO Secretariat.405060708090100110120130140
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
Merchandise trade Optimistic scenario Pessimistic scenario
Trend 1990-2008 Trend 2011-2018PRESS/855  
- 3 - 
  Whole sectors of na tional economies have been shut down, including hotels, restaurants, non-
essential retail trade, tourism and significant shares of manufacturing. Under these circumstances, 
forecasting requires strong assumptions about the progress of the disease and a gre ater reliance 
on estimated rather than reported data.  
 
Future trade performance as summarized in Table 1 is thus best understood in terms of two 
distinct scenarios1: (1) a relatively optimistic scenario, with a sharp drop in trade followed by a 
recovery st arting in the second half of 2020, and (2) a more pessimistic scenario with a steeper 
initial decline and a more prolonged and incomplete recovery.  
 
These should be viewed as explorations of different possible trajectories for the crisis rather than 
specif ic predictions of future developments. Actual outcomes could easily be outside of this range, 
either on the upside or the downside.  
 
Under the optimistic scenario, the recovery will be  strong enough to bring trade close to its pre -
pandemic trend, represent ed by the dotted yellow line in Chart 1, while the pessimistic scenario 
only envisages a partial recovery . Given the level of uncertainties, it is worth emphasizing  that t he 
initial trajectory does not necessarily determine the subsequent recovery . For exa mple, one could 
see a sharp decline in 2020 trade volumes along the lines of the pessimistic scenario , but an 
equally dramatic rebound , bringing trade much closer to the line of the optimistic scenario  by 2021 
or 2022 .  
 
After the financial crisis of 2008 -09, trade never returned to its previous trend, represented by the 
dotted grey line in the same chart. A strong rebound is more likely if businesses and consumers 
view the pandemic as a temporary, one -time shock . In this case , spending on investment goods 
and consumer durables could resume at close to previous levels once the crisis abates. On the 
other hand, if the outbreak is prolonged and/or recurring uncertainty become s pervasive, 
households and business are likely to spend  more cautiously.  
 
Under both scenarios, all regions will suffer double -digit declines in exports and imports in 2020, 
except for “Other regions”  (which is comprise d of Africa, Middle East and Commonwealth of 
Independent States (CIS) including associate a nd former member States ). This relatively small 
estimated decline in exports  stems from the fact that countries from these regions rely heavily on 
export s of energy products , demand for which is relatively unaffected by fluctuating prices . If the 
pandemic is brought under control and trade starts to expand again, m ost regions  could record 
double -digit rebounds in 2021  of around 21 % in the optimistic scenario and 24 % in the pessimistic 
scenario  – albeit from a much lower base  (Table 1) . The extent of uncerta inty is very high, and it 
is well within the realm of possibilities that for both 2020 and 2021 the outcomes could be above 
or below these outcomes.  
 
 
 
1 How these scenarios were generated is discussed in a background document that can be downloaded 
on the WTO website  here.  PRESS/855  
- 4 - 
  Chart 2 - Ratio of world merchandise trade growth to world GDP growth, 1990 -2020  
 % change and ratio  
 
 
 
Source:  WTO Secretariat for trade and consensus estimates for historical GDP. Projections for GDP based on 
scenarios simulated with WTO Global Trade Model.  
Two other aspects that distinguish the current downturn from the financial crisis are the role of 
value chains and trade in services. Value chain disruption was already an issue when COVID -19 
was mostly confined to China.  It remains a salient factor now that the disease has become more 
widespread. Trade is likely to fall more steeply in sectors characte rized by complex value chain 
linkages, particularly in electronics and automotive products. According to the OECD Trade In 
Value Added ( TiVa) database, the share of foreign value added in electronics exports was around 
10% for the United States, 25% for Ch ina, more than 30% for Korea, greater than 40% for 
Singapore and more than 50% for Mexico, Malaysia and Vietnam. Imports of key production inputs 
are likely to be interrupted by social distancing, which caused factories to temporarily close in 
China and wh ich is now happening in Europe and North America . However, it is also useful to recall 
that complex supply chain disruption can occur as a result of localized disasters such hurricanes, 
tsunamis, and other economic disruptions . Managing s upply chain disrup tion is a challenge for 
both global and local enterprises  and requires a risk -versus -economic efficiency calculation on the 
part of every company . 
 
Services trade may be the component of world trade most directly affected by COVID -19 through 
the imposition of transport and travel restrictions  and the closure of many retail and hospitality 
establishments . Services are not included in the WTO's merchandise trade forecast, but most trade 
in goods would be impossible without them (e.g. transport). Unl ike goods, there are no inventories 
of services to be drawn down today and restocked at a later stage. As a result, declines in services 
trade during the pandemic may be lost forever. Services are also interconnected, with air transport 
enabling an ecosyst em of other cultural, sporting and recreational activities. However, some 
services may benefit from the crisis. This is true of information technology services, demand for 
which has boomed as companies try to enable employees to work from home  and people s ocialise 
remotely . 
 
3.6
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1990
1991
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2004
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World trade volume growth (left axis) World GDP growth (left axis)
Ratio of trade growth to GDP growth (right axis)PRESS/855  
- 5 - 
  The impact of the COVID -19 outbreak on international trade is not yet visible in most trade data 
but some timely and leading indicators may already yield clues about the extent of the slowdown 
and how it compares to earlier crises. Indi ces of new export orders derived from Purchasing 
Managers' Indices (PMIs) are particularly useful in this regard . The JP Morgan global PMI for March 
showed export orders in manufacturing sinking to 43.3  relative to a baseline value of 50, and new 
services export business dropping to 35.5, suggesting a severe downturn.  
 
Chart 3: New export orders from purchasing managers indices, Jan. 2008 – Mar. 2020  
Index, base=50  
 
 
Note:  Values greater than 50 indicate expansion while values less than 50 denote contraction.  
Source:  IHS Markit.  
  
30.643.3
35.5
2530354045505560
Jan 2008
Jul 2008
Jan 2009
Jul 2009
Jan 2010
Jul 2010
Jan 2011
Jul 2011
Jan 2012
Jul 2012
Jan 2013
Jul 2013
Jan 2014
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Jan 2016
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Jan 2020
Manufacturing ServicesPRESS/855  
- 6 - 
  Trade developments in 2019  
Global merchandise trade stalled in 2019 under the weight of persistent trade tensions, with trade 
turning down toward the end of the year. This is illustrated by Chart 4, which shows seasonally -
adjusted quarterly merchandise trade volumes as measured by the average of exports and 
imports. Trade in the fourth quarter was down by 1.0% year -on-year and by 1.2% compared to 
the third quarter of 2019 . The latter is equivalent to a 4.6% decline on an annualized basis.  
 
Chart 4: World merchandise exports and imports, 2015Q1 -2019Q4  
Index 2015Q1=100 and year -on-year % change  
 
 
Source:  WTO Secretariat and UNCTAD.  
Chart 5 shows seasonally -adjusted quarterly merchandise export and import volumes by region. 
South America and Other Regions posted large declines in exports in the second half of 2019, 
while Europe, North America, and Asia experienced either minimal growth or mild declines. Import 
volumes for South America experienced a sharp decline thro ughout 2019, with Europe, North 
America, and Asia also ending the year lower. Only imports for Other Regions continued rising with 
year-on-year growth for each quarter of between 1.9% and 4.9% in 2019.  
  
-1.0108.9
-2-10123456
9698100102104106108110112
2015Q1
2015Q2
2015Q3
2015Q4
2016Q1
2016Q2
2016Q3
2016Q4
2017Q1
2017Q2
2017Q3
2017Q4
2018Q1
2018Q2
2018Q3
2018Q4
2019Q1
2019Q2
2019Q3
2019Q4
Year-on-year % change (right axis) Index, 2015Q1=100 (left axis)PRESS/855  
- 7 - 
  Chart 5: Merchandise exports and imports by region, 2015Q1 -2019Q4  
(Volume index, 2015Q1=100)  
 
1 Refers to South and Central America and the Caribbean . 
2 Other Regions comprise Africa, Middle East, and the Commonwealth of Independent States, 
including associate and former member States.  
Source:  WTO and UNCTAD.  
Although services are not subject to tariffs in the way that goods are, world commercial services 
trade still slowed sharply in value terms in 2019 after recording strong increases in the previous 
two years. This is illustrated by Chart 6, which shows growth in the dollar value of services exports 
by major categories. The category of “Other commercial services” recorded the strongest growth 
with a 3% increase in 2019, followed by travel and goods -related services at 1%. A 0.5% drop in 
the value of transport service may have reflected weakness in goods trade as a result of trade 
frictions between major e conomies.  
 
Monthly, quarterly and annual trade statistics can be downloaded from the WTO Data Portal 
at data.wto.org .2 
 
 
 
 2 All numbers in the text are provisional . Definitive figures can be found in the online database.  8090100110120
2015Q1
2015Q3
2016Q1
2016Q3
2017Q1
2017Q3
2018Q1
2018Q3
2019Q1
2019Q3Exports
North America South America¹ Europe
Asia Other Regions²8090100110120
2015Q1
2015Q3
2016Q1
2016Q3
2017Q1
2017Q3
2018Q1
2018Q3
2019Q1
2019Q3Imports
North America South America¹ Europe
Asia Other Regions²PRESS/855  
- 8 - 
  Chart 6: Growth in the value of commercial services exports by category, 201 5-2019 
 % change in US$ values  
 
 
Source:  WTO Secretariat , UNCTAD and ITC.  
 
 
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2015 2016 2017 2018 2019
Commercial services Transport Travel Goods related services Other commercial servicesPRESS/855  
- 9 - 
  Table 1:  Merchandise trade volume and real GDP, 201 8-2021 1 
Annual % change  
 
1 Figures for 2020 and 2021 are projections.  
2 Average of exports and imports.  
3 Other regions comprise Africa, Middle East and Commonwealth of Independent States (CIS) 
including associate and former member States.  
Source:  WTO Secretariat for trade and consensus estimates for historical GDP. Projections for GDP based on 
scenarios simulated with WTO Global Trade Model.   
2018 2019 2020 2021 2020 2021
Volume of world merchandise trade 22.9 -0.1 -12.9 21.3 -31.9 24.0
Exports
North America 3.8 1.0 -17.1 23.7 -40.9 19.3
South and Central America 0.1 -2.2 -12.9 18.6 -31.3 14.3
Europe 2.0 0.1 -12.2 20.5 -32.8 22.7
Asia 3.7 0.9 -13.5 24.9 -36.2 36.1
Other regions 30.7 -2.9 -8.0 8.6 -8.0 9.3
Imports
North America 5.2 -0.4 -14.5 27.3 -33.8 29.5
South and Central America 5.3 -2.1 -22.2 23.2 -43.8 19.5
Europe 1.5 0.5 -10.3 19.9 -28.9 24.5
Asia 4.9 -0.6 -11.8 23.1 -31.5 25.1
Other regions 30.3 1.5 -10.0 13.6 -22.6 18.0
Real GDP at market exchange rates 2.9 2.3 -2.5 7.4 -8.8 5.9
North America 2.8 2.2 -3.3 7.2 -9.0 5.1
South and Central America 0.6 0.1 -4.3 6.5 -11.0 4.8
Europe 2.1 1.3 -3.5 6.6 -10.8 5.4
Asia 4.2 3.9 -0.7 8.7 -7.1 7.4
Other regions 32.1 1.7 -1.5 6.0 -6.7 5.2HistoricalOptimistic 
scenarioPessimistic 
scenarioPRESS/855  
- 10 - 
  Appendix  Tables 
Appendix Table 1 : Leading exporters and importers in world merchandise trade, 2019  
(Billion US$ and %)  
 
1 Secretariat estimates . 
2 Imports are valued f.o.b.  
3 Includes significant re -exports or imports for re -export.  
Source:  WTO and UNCTAD.  
 
 
 
 
 
 
 
  
Rank Exporters Value Share Annual 
percentage 
change Rank Importers Value Share Annual 
percentage 
change 
1China 2499 13.2 0 1United States of America 2568 13.4 -2
2United States of America 1646 8.7 -1 2China 2077 10.8 -3
3Germany 1489 7.9 -5 3Germany 1234 6.4 -4
4Netherlands 709 3.8 -2 4Japan 721 3.7 -4
5Japan 706 3.7 -4 5United Kingdom 692 3.6 3
6France 570 3.0 -2 6France 651 3.4 -3
7Korea, Republic of 542 2.9 -10 7Netherlands 636 3.3 -1
8Hong Kong, China 535 2.8 -6 8Hong Kong, China 578 3.0 -8
     Domestic exports 15 0.1 18      Retained imports 1138 0.7 -10
     Re-exports 517 2.7 -7  
9Italy 533 2.8 -3 9Korea, Republic of 503 2.6 -6
10 United Kingdom 469 2.5 -4 10 India 484 2.5 -6
11 Mexico 461 2.4 2 11 Italy 474 2.5 -6
12 Canada 447 2.4 -1 12 Mexico 467 2.4 -2
13 Belgium 445 2.4 -5 13 Canada 464 2.4 -1
14 Russian Federation 419 2.2 -5 14 Belgium 426 2.2 -6
15 Singapore 391 2.1 -5 15 Spain 372 1.9 -5
     Domestic exports 184 1.0 -12  
     Re-exports 206 1.1 1  
16 Spain 334 1.8 -4 16 Singapore 359 1.9 -3
      Retained imports 1153 0.8 -9
17 Chinese Taipei 331 1.8 -2 17 Chinese Taipei 287 1.5 0
18 India 324 1.7 0 18 Switzerland 277 1.4 -1
19 Switzerland 314 1.7 1 19 Poland 262 1.4 -3
20 United Arab Emirates 1280 1.5 -12 20 United Arab Emirates 1262 1.4 0
21 Australia 272 1.4 6 21 Russian Federation 2254 1.3 2
22 Saudi Arabia, Kingdom of 1269 1.4 -9 22 Viet Nam 254 1.3 7
23 Viet Nam 264 1.4 8 23 Thailand 237 1.2 -5
24 Poland 264 1.4 0 24 Australia 222 1.2 -6
25 Thailand 246 1.3 -3 25 Turkey 210 1.1 -9
26 Malaysia 238 1.3 -4 26 Malaysia 205 1.1 -6
27 Brazil 223 1.2 -7 27 Austria 185 1.0 -5
28 Czech Republic 199 1.1 -2 28 Brazil 184 1.0 -2
29 Turkey 181 1.0 2 29 Czech Republic 178 0.9 -3
30 Austria 179 0.9 -3 30 Indonesia 171 0.9 -10
Total of above 315775 83.5 - Total of above 316047 82.7 -
World 318886 100.0 -3 World 319226 100.0 -3PRESS/855  
- 11 - 
  Appendix Table 2: Leading exporters and importers in world merchandise trade 
excluding intra -EU trade, 2019  
(Billion US$ and %)  
 
1 Secretariat estimates . 
2 Imports are valued f.o.b.  
3 Includes significant re -exports or imports for re -export.  
Source:  WTO a nd UNCTAD.  
  
Rank Exporters Value ShareAnnual 
percentage 
changeRank Importers Value ShareAnnual 
percentage 
change
1China 2499 16.2 0 1United States of America 2568 16.2 -2
2Extra-EU exports 2386 15.4 -2 2Extra-EU imports 2166 13.7 -4
3United States of America 1646 10.6 -1 3China 2077 13.1 -3
4Japan 706 4.6 -4 4Japan 721 4.5 -4
5Korea, Republic of 542 3.5 -10 5United Kingdom 692 4.4 3
6Hong Kong, China 535 3.5 -6 6Hong Kong, China 578 3.6 -8
     Domestic exports 15 0.1 18      Retained imports 1138 0.9 -10
     Re-exports 517 3.3 -7  
7United Kingdom 469 3.0 -4 7Korea, Republic of 503 3.2 -6
8Mexico 461 3.0 2 8India 484 3.0 -6
9Canada 447 2.9 -1 9Mexico 467 2.9 -2
10 Russian Federation 419 2.7 -5 10 Canada 464 2.9 -1
11 Singapore 391 2.5 -5 11 Singapore 359 2.3 -3
     Domestic exports 184 1.2 -12      Retained imports 1153 1.0 -9
     Re-exports 206 1.3 1  
12 Chinese Taipei 331 2.1 -2 12 Chinese Taipei 287 1.8 0
13 India 324 2.1 0 13 Switzerland 277 1.7 -1
14 Switzerland 314 2.0 1 14 United Arab Emirates 1262 1.7 0
15 United Arab Emirates  1280 1.8 -12 15 Russian Federation 2254 1.6 2
16 Australia 272 1.8 6 16 Viet Nam 254 1.6 7
17 Saudi Arabia, Kingdom of 1269 1.7 -9 17 Thailand 237 1.5 -5
18 Viet Nam 264 1.7 8 18 Australia 222 1.4 -6
19 Thailand 246 1.6 -3 19 Turkey 210 1.3 -9
20 Malaysia 238 1.5 -4 20 Malaysia 205 1.3 -6
21 Brazil 223 1.4 -7 21 Brazil 184 1.2 -2
22 Turkey 181 1.2 2 22 Indonesia 171 1.1 -10
23 Indonesia 167 1.1 -7 23 Saudi Arabia, Kingdom of 1142 0.9 4
24 Norway 103 0.7 -16 24 Philippines 113 0.7 -5
25 South Africa 90 0.6 -4 25 South Africa 1108 0.7 -6
26 Iraq 189 0.6 -6 26 Norway 85 0.5 -2
27 Qatar 173 0.5 -14 27 Israel 76 0.5 0
28 Philippines 70 0.5 1 28 Egypt 71 0.4 -2
29 Chile 70 0.5 -8 29 Chile 70 0.4 -7
30 Argentina 65 0.4 5 30 Ukraine 61 0.4 6
Total of above 314169 91.7 - Total of above 314367 90.6 -
World excluding EU intra-trade 315459 100.0 -3 World excluding EU intra-trade 315866 100.0 -3PRESS/855  
- 12 - 
  Appendix Table 3: Leading exporters and importers of commercial services, 2019  
(Billion US$ and %)  
 
1 Imports adjusted to f.o.b valuation.  
2 Preliminary annual estimates. Quarterly data not available.  
- indicates non-applicable.  
Note:  Preliminary estimates based on quarterly statistics. Figures for a number of countries and territories 
have been estimated by the Secretariat . More data available at http://data.wto.org/ . 
Source:  WTO, UNCTAD and ITC.  
 
  
Rank Exporters Value ShareAnnual 
percentage 
changeRank Importers Value ShareAnnual 
percentage 
change
1United States of America 824 13.7 2 1United States of America 571 9.9 5
2United Kingdom 412 6.8 2 2China 497 8.6 -5
3Germany 331 5.5 -2 3Germany 360 6.3 -1
4China 282 4.7 4 4Ireland 320 5.6 46
5France 280 4.6 -5 5United Kingdom 278 4.8 8
6Netherlands 262 4.3 6 6France 256 4.5 -4
7Ireland 238 3.9 12 7Netherlands 246 4.3 1
8India 214 3.5 5 8Japan 202 3.5 2
9Singapore 205 3.4 1 9Singapore 199 3.5 -1
10 Japan 201 3.3 6 10 India 1178 3.1 2
11 Spain 157 2.6 1 11 Korea, Republic of 129 2.2 -2
12 Switzerland 122 2.0 -3 12 Italy 122 2.1 -1
13 Italy 121 2.0 -1 13 Belgium 120 2.1 -3
14 Belgium 119 2.0 -2 14 Canada 114 2.0 0
15 Luxembourg 112 1.9 -2 15 Switzerland 104 1.8 -2
16 Korea, Republic of 107 1.8 4 16 Russian Federation 98 1.7 6
17 Hong Kong, China 101 1.7 -10 17 Luxembourg 86 1.5 -1
18 Canada 99 1.6 1 18 Spain 86 1.5 5
19 Thailand 81 1.4 6 19 Hong Kong, China 79 1.4 -3
20 Sweden 76 1.3 2 20 Sweden 73 1.3 1
21 Denmark 74 1.2 -5 21 United Arab Emirates 273 1.3 2
22 Austria 73 1.2 -1 22 Denmark 71 1.2 0
23 United Arab Emirates 272 1.2 2 23 Australia 71 1.2 -2
24 Poland 72 1.2 4 24 Brazil 67 1.2 -3
25 Australia 70 1.2 1 25 Austria 63 1.1 1
26 Turkey 64 1.1 10 26 Thailand 58 1.0 6
27 Russian Federation 64 1.1 0 27 Chinese Taipei 56 1.0 0
28 Israel 55 0.9 11 28 Saudi Arabia, Kingdom of 55 1.0 -1
29 Chinese Taipei 51 0.9 3 29 Norway 53 0.9 0
30 Norway 45 0.7 2 30 Poland 45 0.8 3
Total of above 4983 82.7 - Total of above 4729 82.3 -
World 6025 100.0 2 World 5745 100.0 2PRESS/855  
- 13 - 
  Appendix Table 4: Leading exporters and importers of commercial services excluding 
intra -EU trade, 2019  
(Billion US$ and %)  
 
1 Imports adjusted to f.o.b valuation.  
2 Preliminary annual estimates. Quarterly data not available.  
3 Follows BPM5 services classification.  
- indicates non -applicable.  
Note:  Preliminary estimates based on quarterly statistics. Figures for a number of countries and territories 
have b een estimated by the Secretariat. More data available at http://data.wto.org/ . 
Source:  WTO, UNCTAD and ITC.  
 
 
END 
Rank Exporters Value ShareAnnual 
percentage 
changeRank Importers Value ShareAnnual 
percentage 
change
1Extra-EU exports 1108 22.3 0 1Extra-EU imports 965 20.5 4
2United States of America 824 16.6 2 2United States of America 571 12.1 5
3United Kingdom 412 8.3 2 3China 497 10.6 -5
4China 282 5.7 4 4United Kingdom 278 5.9 8
5India 214 4.3 5 5Japan 202 4.3 2
6Singapore 205 4.1 1 6Singapore 199 4.2 -1
7Japan 201 4.0 6 7India 1178 3.8 2
8Switzerland 122 2.4 -3 8Korea, Republic of 129 2.7 -2
9Korea, Republic of 107 2.2 4 9Canada 114 2.4 0
10 Hong Kong, China 101 2.0 -10 10 Switzerland 104 2.2 -2
11 Canada 99 2.0 1 11 Russian Federation 98 2.1 6
12 Thailand 81 1.6 6 12 Hong Kong, China 79 1.7 -3
13 United Arab Emirates 272 1.5 2 13 United Arab Emirates 273 1.5 2
14 Australia 70 1.4 1 14 Australia 71 1.5 -2
15 Turkey 64 1.3 10 15 Brazil 67 1.4 -3
16 Russian Federation 64 1.3 0 16 Thailand 58 1.2 6
17 Israel 55 1.1 11 17 Chinese Taipei 56 1.2 0
18 Chinese Taipei 51 1.0 3 18 Saudi Arabia, Kingdom of 55 1.2 -1
19 Norway 45 0.9 2 19 Norway 53 1.1 0
20 Macao, China 343 0.9 -1 20 Malaysia 43 0.9 -2
21 Philippines 41 0.8 8 21 Nigeria 42 0.9 36
22 Malaysia 41 0.8 2 22 Indonesia 39 0.8 4
23 Brazil 33 0.7 -4 23 Mexico 36 0.8 -3
24 Indonesia 31 0.6 1 24 Qatar 34 0.7 10
25 Mexico 30 0.6 5 25 Israel 31 0.7 3
26 Egypt 25 0.5 7 26 Kuwait, the State of 28 0.6 -20
27 Saudi Arabia, Kingdom of 22 0.4 15 27 Philippines 28 0.6 5
28 Qatar 19 0.4 5 28 Turkey 27 0.6 2
29 Morocco 19 0.4 4 29 Iraq 24 0.5 36
30 New Zealand 17 0.3 -2 30 Egypt 20 0.4 13
Total of above 4496 90.5 - Total of above 4200 89.2 -
World (excl. intra-EU) 4965 100.0 2 World (excl. intra-EU) 4710 100.0 2