Proof Point
HSBC forecasts global service exports growing 7.06% annually between 2000 and 2030, from $1.6 trillion to $12.4 trillion, with B2B and travel sectors having majority share
Global Size of Export and Share by Sector
2000 – 2030F (US$ trillions)
Proof Point Findings
- Service Exports – Service provided by individual or company for people or companies in another country
- Rising Service Exports – Total service exports grew from $1.6 trillion in 2000 to $4.8 trillion in 2015, with HSBC expecting it to reach $12.4 trillion US$ by 2030
- Sector Share – B2B and other sectors (33%) and Travel and Tourism (25%) contributed most to total global service exports in 2015
- Key Growth Drivers – Include expanding capability of companies to provide services in other countries, mainly through cloud computing, evolving government trade policies, growing middle class able to afford new products and services, particularly in emerging countries, heightening global competition across all sectors, and proliferation of robots and artificial intelligence systems that limit need for outsourcing of basic, routine business processes
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Date Last Updated |
May 26, 2017
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