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WTO’s World Trade Statistics 2023
August 9 , 2024
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- In 2023, world trade in goods and commercial services fell on average by 2% to US$ 30.5 trillion, on a balance of payments basis.
- Trade in goods declined by 5% whereas services trade took an opposite trajectory, increasing by 9%.
- As a result, the share of goods in global trade decreased from 77.8% in 2022 to 75.3% in 2023.
- The share of services reached 24.7%, up from 22.2%.
- India improved to the 17th rank among the largest merchandise exporters in 2023.
- India ranked in 10th place in Fuels and mining products export. Iron and steel
- India ranked in 10th place in Iron and steel export and 8th rank in chemicals export.
- India ranked in 3rd place in Textiles export and 5th place in clothing export.
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