Invest in Russia — invest in Russian regions!
All analytics

Trade in services in the context of COVID-19

Research
2 July 2020
Торговля услугами в контексте COVID-19
Source
Release date
05/28/2020
Open PDF

The World Trade Organization’s study offers information about the early consequences of the pandemic, as it affects trade in services across various sectors, as well as shipment methods. The authors state that services account for over two-thirds of economic output and attract over two-thirds of foreign direct investment, providing the majority of jobs globally and representing over 40% of all global trade. Logistics and the tourism and travel sector have been the hardest hit as a result of the COVID-19 pandemic and the resulting crisis. Restrictions on movement and enforced social distancing have had the greatest impact on suppliers and consumers. Interruptions to the supply of services are having a wide-ranging impact on the economy and trade, given the sector’s important role in other areas of economic activity. Reduced trade in goods contributes to reduced trade in services, resulting in an economic slowdown. Labour productivity and trade performance, including in the services sector, will be key to economic recovery at all levels. This underlines the importance of injecting new momentum into developing trade in services, and especially infrastructure services such as finance, telecommunications, supply chains, transportation and logistics.

Anlytics on the topic

All analytics
Analytical digest
26 June 2020
COVID-19. Ensuring technological sustainability

PwC experts provide guidance and solutions for IT leaders, CTOs, COOs, or IT sustainability/disaster recovery managers to help identify effective responses to COVID-19 business incidents.

Articles
31 January 2018
Russia and Morocco: New Cooperation Opportunities

This article by Dmitry Medvedev is devoted to the prospects for cooperation between Russia and Morocco and is timed to his visit to this country.

Articles
26 August 2020
FINANCE & DEVELOPMENT, June 2020 IMF Journal

The International Monetary Fund publishes a quarterly journal on finance, politics and economics. This issue explores these topics through the lens of COVID-19.

Expert opinion
3 June 2019
Space of Trust of the Roscongress Foundation: Creating the Basis for Positive Change

Elena Marinina, Deputy CEO of the Roscongress Foundation, Director for the Socio-Economic Agenda, and Director of the Innosocium Foundation, talks about working at SPIEF, new projects and how what is happening is helping the state and society find solutions to socially significant issues.