Export services generated US$7.088 trillion from global sales during 2023. That dollar amount reflects an 11.9% increase from the $6.334 trillion worth of exported services for 2019, and a 3.2% uptick from 2022 to 2023.
The overall total for exported services in 2023 approached a third (30.4%) compared to globally exported products, down from 33.8% for 2019.
Galvanized by ubiquitous internet communications delivered by lightning-fast fiberoptics networks, some countries are accelerating their transition from product manufacturers into service economies. Consequently, it makes sense that those countries are increasingly marketing their products and services on international markets.
Knowing which global services are most in demand assists researchers who uncover international business opportunities.
World’s Top Export Services
Below are the top services that generated the highest dollar export sales in 2023. Also shown is each service’s change in each category’s revenue from 2022 to 2023.
Eleven of the following categories are commercial services which in aggregate represent 99.6% of the total allocated sum. Government goods and services accounts for the remaining 0.4%.
- Travel: US$1.382 trillion (up 26.5% from 2022)
- Transport: $1.176 trillion (down -16.6%)
- Miscellaneous business services: $567.9 billion (down -63.9%)
- Telecommunications/computer/information services: $341.2 billion (down -63.8%)
- Financial services: $168.6 billion (down -71.8%)
- Intellectual property use: $76.4 billion (down -80.5%)
- Manufacturing on others’ physical inputs: $70.1 billion (down -51%)
- Insurance/pension services: $61.7 billion (down -62.6%)
- Maintenance/repair services: $36.1 billion (down -55%)
- Personal, cultural, recreational services: $33.3 billion (down -66.5%)
- Construction services: $22.1 billion (down -76.7%)
- Government goods, services: $15.1 billion (down -81.8%)
The sole allocated export services category to increase from 2022 to 2023 was for travel services via its 26.5% gain.
Leading the year-over-year decliners were exported government goods and services (down -81.8% from 2022), intellectual property use (down -80.5%), construction services (down -76.7%), financial services (down -71.8%) then personal, cultural or recreational services (down -66.5%).
In addition, note that the data source for this article also indicated US$3.951 trillion worth of “Services not allocated” for 2023.
Export Services from the Top 20 Countries
The following 20 countries sold over three-quarters (76.3%) of the total value for exported services during 2023.
Shown within parentheses is the percentage change in international services sold by each originating country year over year.
- United States: US$999.1 billion (up 7.6% from 2022)
- United Kingdom: $584.2 billion (up 18.2%)
- Ireland: $397.6 billion (up 11.9%)
- mainland China: $381.1 billion (down -10.1%)
- France: $360.1 billion (up 4.6%)
- India: $336.2 billion (up 8.7%)
- Singapore: $328 billion (up 12.6%)
- Netherlands: $316.9 billion (up 54.1%)
- Japan: $204.3 billion (up 22.6%)
- Spain: $198.1 billion (up 17.7%)
- Germany: $183.7 billion (down -3.2%)
- Switzerland: $170 billion (up 14.5%)
- Canada: $148.6 billion (up 20.5%)
- Italy: $147.9 billion (up 15.3%)
- South Korea: $124.5 billion (down -6.4%)
- Denmark: $114.4 billion (down -13.4%)
- Australia: $113.5 billion (up 122.1%)
- Sweden: $104.3 billion (up 10%)
- Türkiye: $99.8 billion (up 10.5%)
- Hong Kong: $98.9 billion (up 19.2%)
Expanding its sales of exported services from 2022 to 2023 at the fastest pace was Australia via its 122.1% increase.
In second place was the Netherlands (up 54.1%) trailed by Japan (up 22.6%), Canada (up 20.5%), Hong Kong (up 19.2%) then the United Kingdom (up 18.2%).
Four of the top 20 services providers experienced declines in their international revenues year over year, led by Denmark (down -13.4%).
Other decliners were mainland China (down -10.1%), South Korea (down -6.4%) and Germany (down -3.2%).
See also World’s Top Exports Report Card for Products and Countries and Report Card for Trade Surpluses and Deficits by Country
Research Sources:
Central Intelligence Agency, The World Factbook Field Listing: Exports. Accessed on December 3, 2024
International Monetary Fund, World Economic Outlook Database (GDP based on Purchasing Power Parity). Accessed on December 3, 2024
International Trade Centre, Trade Map. Accessed on December 3, 2024