Services make up a significant part of the country’s GDP. In two-thirds of the world’s countries, services account for more than half of the gross domestic product. According to the World Bank, services account for 58% of GDP in Romania.
Since the 1990s, world exports of services have increased fourfold. The maximum value was reached immediately before the pandemic – 5.9 trillion dollars.
The United States of America is the largest exporter of services in the world, accounting for 14% of total export value. If you look at the distribution by continent, more than half of all exports of services go to Europe. Great Britain, Germany and Ireland are leading here.
in 2020, Romania exported services worth more than $27 billion, i.e. 0.55% of the total services exported worldwide.
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Source: Hot News
Lori Barajas is an accomplished journalist, known for her insightful and thought-provoking writing on economy. She currently works as a writer at 247 news reel. With a passion for understanding the economy, Lori’s writing delves deep into the financial issues that matter most, providing readers with a unique perspective on current events.