The bar chart illustrates data regarding the value and growth of the exports of world goods and commercial services between 2018 and 2023.
Overall, both the value and growth of the exports of world goods and commercial services showed fluctuations across the table. Notably, 2021 was the year when the growth of both types of export were the highest, the reverse was true for 2020.
Looking first at the values of goods and commercial services exports, the figures for both categories showed some similarities. Starting at around 19,000 billion US$, the figure for the former witnessed a gradual decline to a low of 17,000 billion in 2020. After that, the value of goods exports rose to 24,000 billion US$ in 2022, then proceeded to dip to end the period at roughly 23,000 billions. The value for the latter followed a relatively similar pattern, experiencing a fall from 5,000 billion in 2018 to 3,000 billion in 2020. From then onward, the value experienced a resurgence, soaring to around 6,000 in 2022, before decreasing slightly to 31,000 billion in the final year.
Turning to the growths of goods and commercial services exports, these categories also showed similar patterns, yet to varying degrees. Starting at the exact percentage of 10%, the figure for the former declined to 3% in 2019, while that of the latter considerably fell to -3%. In 2020, the growth of goods exports saw a slight decline of 5% to -8%, as opposed to a significant 14% to -17% of commercial services exports. Nonetheless, both figures then experienced an exponential growth to 27% of goods exports, and 20% of commercial services exports, before steadily declining to -6% and 9%, respectively.