Services trade growth slows in first quarter of 2025: WTO

New Delhi, Jul 31 (PTI) The global services trade growth slowed in the first quarter of 2025 to 5 per cent year-on-year due to global economic uncertainties, the WTO said on Thursday.

India is a key player in global services trade.

The appreciation of the US dollar against the euro and other currencies, coupled with increased economic uncertainty, contributed to the slowdown in services trade in the early months of the year, the World Trade Organisation (WTO) said.

"Global services trade growth slowed in the first quarter of 2025 to 5 per cent year-on-year, roughly half the pace recorded in both 2024 and 2023," it said.

It added that services exports in Europe and North America increased only by 3 per cent year-on-year in the first quarter of 2025, down from 8 per cent and 11 per cent respectively in the first quarter of 2024.

In contrast, strong growth was sustained in Asia at 9 per cent.

"Double digit exports growth was recorded in Asian economies such as China (+13 per cent, through June), India (+12 per cent) and Japan (+11 per cent)," it said. PTI RR HVA