Page 13 - Policy Economic Report - August 2025

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

Figure 7: Structure of world exports of commercial services, 2024 (%) shares

Source- WTO UNCTAD estimates

The analysis shows a deceleration across selected subsectors of “Other commercial services” in the first
quarter of 2025 compared with the same period of 2024. Growth in “Other business services,” covering
various professional, technical, and trade-related services, as well as research and development services,
moderated. The United States posted a subdued 4% year-on-year increase in “Other business services”
following an 8% expansion in the same period of 2024.

Financial services exports grew by only 3% year-on-year in the first quarter of 2025, reflecting reduced
investment activity amid increased global economic uncertainty. Exports from both the European Union
and the United States rose just 2% year-on-year while Switzerland's exports fell by 3%. The United
Kingdom, on the contrary, posted a robust 10% year-on-year increase sustained by double digit growth in
exports to the United States (+13%).

Global construction exports fell by 15% year-on-year in the first quarter of 2025, reversing part of the
strong 25% growth recorded during the same period in 2024. The decline reflects weaker performance
across several key economies, including China (-25%), which alone accounted for over 28% of global
construction exports in 2024, the Republic of Korea (-15%), and the European Union (-6%).

Computer services exports were only marginally affected by the broader slowdown, as strong global
demand for artificial intelligence (AI), digital transformation, and cybersecurity solutions continued to
drive growth. During the period, India’s computer services exports grew by 13%, while Ireland recorded a
9% increase.

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