Global Trade's Big Future: Digital Services

©iStock/Chainarong Prasertthal

According to a new World Trade Organization report, the growth of cross-border digital trade flows — like e-commerce, video streaming, games and apps — increased four-fold since 2005 and are now valued at some $3.8 trillion. That accounts for more than half of all services trade worldwide.

“This gives us a bit of an indication of where world trade is heading,” says WTO Chief Economist Ralph Ossa told Bloomberg in a recent interview. “The future of trade is in services, particularly digitally delivered services.”

Read more to appreciate how the golden age for electronic commerce is already upon us.

Related to this, read research fellow Kati Suominen's report, "Trust in trade:  Challenges to the global convergence on digital standards," for the Hinrich Foundation.

Today in Global Small Business: Join the Revolution and Sell Online

iStock/ljeab

What's affecting me, my clients, my colleagues and other global small business owners:

• SMEs form the key base for growth in digital services.
• Bank Indonesia helps small enterprises go global.
• SMEs must join retail revolution and sell online.
• Local small businesses in Malaysia fall behind in international trade.
• Software SMEs going global; steps to internationalization.
• Join a weggchat™ via Twitter with Laurel Delaney on "Take Your Business Global" August 8 at 11:00 a.m. Central time.  Instructions here.  The last 5 minutes of weggchat™, each participant gives their elevator pitch.
• Some hot tips for exporting round-the-clock.