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April 2017

The ECA Region is Falling Behind in Digital Trade in Services

Shawn W. Tan's picture

International trade is a major driver of economic growth and digital technology can accelerate this process. The Internet greatly expands firms’ potential to produce new goods and services and serve new markets. In particular, the Internet is having a dramatic impact on services, especially in retail, financial and professional services sectors. Firms in these sectors can create new digital products such as music, videos and books, and digitize their services as well as deliver them over long distances. This ability has led to a remarkable global expansion of digital trade in business, professional and technical services.