World services trade continued to grow into the second quarter of 2022, indicating resilience to the conflict in Ukraine, according to the World Trade Organisation’s (WTO) services trade barometer, released in June. The latest reading of 105.5 is firmly above the previous reading of 102.5 in September 2021 and comfortably over the baseline value of 100 for the index.The reading indicates that services trade is likely to post sustained gains in the second quarter once official statistics for the period are available.
The services trade barometer is outpacing the goods trade barometer, which points to a possible shift in consumption patterns away from goods and back toward services as the COVID-19 pandemic eases, according to a WTO press release.
World services trade continued to grow into the 2022 second quarter, indicating resilience to the conflict in Ukraine, according to the World Trade Organisation's services trade barometer, released in June. The latest reading of 105.5 is firmly above the previous reading of 102.5 in September 2021 and comfortably over the baseline value of 100 for the index.#
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