Abstract
In recent years, the services sector has become a dominant force in global value-added production, reaching a combined value of $22.9 trillion in 2023 for the IDA and IBRD countries. This reflects a steady shift from manufacturing to service-based economies, particularly in developed nations. The sector’s growth is driven by digitalization, technological advancements, and globalization, enhancing efficiency and expanding access. This trend highlights the increasing importance of intellectual and intangible assets like technology, finance, and healthcare in shaping the world economy.
Services, US Dollars
Since 1960, the agricultural, forestry, and fishery service industries have experienced significant shifts, with global value peaking at $62.5 trillion in 2022. The industry’s growth reflects evolving agricultural techniques, sustainability efforts, and increasing demand for natural resources. While the sector has modernized through technological advancements, it faces challenges like climate change, resource depletion, and shifting consumer preferences. The recent peak underscores the vital role these industries play in global food security and environmental balance, contributing to both economic development and environmental sustainability.
The maximum is the latest one, 62.5TUSD of World
Services, US Dollars (Worldwide)
Since 1960, the U.S. service industry has experienced robust growth, reaching a peak value of $18.1 trillion in 2021. This growth has been driven by the expansion of sectors like technology, finance, healthcare, and entertainment, supported by increasing digitalization and innovation. The shift from manufacturing to services reflects broader economic transitions, with the U.S. adapting to a knowledge-based economy. Despite challenges such as economic recessions and global competition, the service industry remains a key driver of U.S. GDP, highlighting its resilience and evolving role in the global economy.
The maximum is the latest one, 18.1TUSD of United States
Services industry, US dollars (world countries, latest year)
As of 2023, China’s service industry has reached $9.72 trillion, marking its highest value, with a global total of $39.3 trillion and an average of $259 billion. This growth reflects China’s ongoing shift towards a service-oriented economy, fueled by urbanization, digital innovation, and rising middle-class demand. Key sectors such as technology, finance, and e-commerce are driving this expansion. The trend highlights China’s growing influence in global services, aligning with its broader economic transformation from manufacturing to services, while continuing to play a crucial role in global trade and investment flows.
The maximum is 9.72TUSD of China, the average is 260GUSD, and the total is 39.3TUSD
Services industry, US$ (region, latest year)
In 2023, the agricultural, forestry, and fishery service industries in the global economy reached a total value of $48.8 trillion, with the European Union leading at $11.9 trillion. The EU’s strong performance reflects its advanced agricultural techniques, sustainable practices, and significant investments in environmental conservation. The average value of $3.48 trillion highlights the global reliance on these sectors for food production, natural resources, and ecosystem services. The trend shows increasing focus on sustainability, climate resilience, and innovation, ensuring these industries’ vital role in the global economy and food security.
The maximum is 19.4TUSD of North America, the average is 19.4TUSD, and the total is 19.4TUSD
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