Trade in services (% of GDP)

This economic metric reflects the total value of services exchanged between countries, encompassing both exports and imports, expressed as a percentage of a nation's Gross Domestic Product (GDP), measured in current U.S. dollars. By analyzing this ratio, one can gain insights into a country's integration within the global service economy, highlighting its competitiveness and specialization in areas such as finance, tourism, and technology. A higher percentage may indicate a robust service sector and dependency on foreign markets, while a lower figure might suggest a more self-sufficient economy. Additionally, fluctuations in this indicator can signal shifts in consumer preferences, economic health, and trade policies, providing policymakers with crucial information for strategic planning and international engagement. Source: