Global services trade remains below pre-Covid levels, says WTO

Global services purchasing managers' index (102.7) and financial services (100.2) indices indicated that the pace of growth has slowed down.

World trade in services is recovering but is yet to reach pre-pandemic levels, said the World Trade Organization (WTO) on Thursday.

This implies that the impact on India’s exports may see only marginal improvement.

The services trade barometer showed a reading of 102.5, suggesting that the volume of services trade during April-September will continue to recover, once official statistics are available.

“However, the fact that the indicator has recently turned downwards suggests that the expansion may proceed along a new, lower trajectory if the Covid-19 pandemic turns out to have a persistent impact on services trade,” said an official statement.