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India among major commercial service exporters in 2010: WTO

Last Updated: Tuesday, January 31, 2012 - 20:53
New Delhi: India and China were among the leading exporters of commercial services in 2010, a World Trade Organisation (WTO) report has said, with the total value of these activities growing by 9 percent to USD 3,695 billion during the 12-month period.
"In 2010, world exports of commercial services grew by 9 percent... Despite this global rebound, exports remained below the level achieved before the financial and economic crisis," the 'International Trade Statistics 2011' report said, adding that the recovery has not been even across regions.
"... The most rapid growth has been in Asia, where exports rose by 22 percent in 2010, led by India and China," it said.
During the period, the European Union's (EU) exports grew by merely 3 percent. Nevertheless, Europe accounted for 45 percent of total trade in commercial services.
In recent years, it said that Europe's share of global exports of commercial services has fallen significantly.
Asking the global community to refrain from protectionist measures, World Trade Organisation Director General Pascal Lamy said as the world enters the final quarter of 2011, it finds itself again in a situation of financial turmoil.
"The positive signs of growth in the first part of the year have been clouded by the sovereign debt crisis and ensuing currency turbulence, which have brought us to the edge of a new crisis," Lamy said.
"During these times, it is all the more important to avoid protectionist responses to domestic difficulties and to do all we can to keep trade open and flowing as smoothly, predictably and freely as possible," he said.


First Published: Tuesday, January 31, 2012 - 20:53
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