world trade in services remains in recovery despite war in ukraine which already adds up to more than four months in progress. This was pointed out by the world trade organizationeither (WTO) by posting your Services Trade Barometer for last April.
(See: Trade deficit already reaches US$4,801 million in 4 months).
Specifically, for the aforementioned month, the service meter marked a record of 105.5 “is clearly above the previous readingSeptember, when he had a score of 102.5, as well as above the trend of 100, the standard mark.
This behavior differs from the status of the Goods Trade Barometer also published by the entity, which explains that this may refer to “a possible shift in patterns of consumption of goods and back to services as the covid-19 pandemic eases”.
(See: Sustain GDP growth, the challenge of the new government).
Among the indices that make up the Services Trade Barometer, the air passenger transport index (117.1) posted the strongest increase, contributing to the above-trend reading in the global index. The good results in services purchasing managers index (105.1) and the information and communication technology services (104.2) also helped lift the services barometer reading.
Although it remains above trend, the WTO explained that the financial services index (101.7) seems to have lost momentum recently, possibly due to the sanctions imposed on Russia in relation to the conflict in Ukraine.
(See: Economic activity in Colombia grew 12.0% in April).
Other indices, including the container transport (101.5) and the building (101.1), remain slightly above the trend.
(See: Why the Colombian economy will be the one that will grow the most in the OECD).
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