Trade in services in Heavily indebted poor countries (HIPC)
Heavily indebted poor countries (HIPC): Trade in services was 11.6% in 2024. ▲ Rising
Trade in services in Heavily indebted poor countries (HIPC), 1980–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
In 2024, trade in services in Heavily indebted poor countries (HIPC) stood at 11.6%.
Compared with earlier readings it is down 8.1% on the previous year and down 11.0% over ten years.
Over the whole period, trade in services in Heavily indebted poor countries (HIPC) peaked at 14.0% in 2012 and was at its lowest, 7.5%, in 1991.
Heavily indebted poor countries (HIPC) ranks 23rd of 47 groups on this measure, in the middle of the range.
The long-run direction has been consistently rising across the 45 years of available data.
Trade in services in Heavily indebted poor countries (HIPC), year by year
| Year | % of GDP | Change |
|---|---|---|
| 1980 | 10.3% | — |
| 1981 | 10.3% | -0.6% |
| 1982 | 9.5% | -7.2% |
| 1983 | 9.0% | -5.2% |
| 1984 | 8.3% | -7.9% |
| 1985 | 9.3% | +11.9% |
| 1986 | 8.8% | -5.0% |
| 1987 | 9.3% | +5.9% |
| 1988 | 9.3% | -0.8% |
| 1989 | 9.4% | +1.4% |
| 1990 | 8.5% | -9.6% |
| 1991 | 7.5% | -11.3% |
| 1992 | 10.8% | +43.6% |
| 1993 | 10.9% | +0.3% |
| 1994 | 12.0% | +10.1% |
| 1995 | 11.5% | -3.6% |
| 1996 | 12.0% | +4.5% |
| 1997 | 11.3% | -6.2% |
| 1998 | 12.2% | +7.8% |
| 1999 | 12.1% | -0.3% |
| 2000 | 12.9% | +6.0% |
| 2001 | 13.1% | +1.5% |
| 2002 | 13.2% | +1.0% |
| 2003 | 12.2% | -7.4% |
| 2004 | 13.3% | +9.0% |
| 2005 | 13.1% | -1.3% |
| 2006 | 12.9% | -1.6% |
| 2007 | 13.1% | +1.0% |
| 2008 | 13.0% | -0.8% |
| 2009 | 12.4% | -4.5% |
| 2010 | 12.4% | +0.2% |
| 2011 | 13.6% | +10.1% |
| 2012 | 14.0% | +2.9% |
| 2013 | 13.1% | -6.9% |
| 2014 | 13.0% | -0.4% |
| 2015 | 13.6% | +4.3% |
| 2016 | 13.1% | -3.3% |
| 2017 | 12.8% | -3.0% |
| 2018 | 13.4% | +4.9% |
| 2019 | 13.7% | +2.1% |
| 2020 | 11.3% | -17.0% |
| 2021 | 11.5% | +1.8% |
| 2022 | 12.1% | +4.6% |
| 2023 | 12.6% | +4.7% |
| 2024 | 11.6% | -8.1% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1980s | 9.4% | 8.3% | 10.3% | 10 |
| 1990s | 10.9% | 7.5% | 12.2% | 10 |
| 2000s | 12.9% | 12.2% | 13.3% | 10 |
| 2010s | 13.3% | 12.4% | 14.0% | 10 |
| 2020s | 11.8% | 11.3% | 12.6% | 5 |
Countries ranked near Heavily indebted poor countries (HIPC)
- 20 Antigua and Barbuda 78.1% compare
- 21 Curaçao 75.6% compare
- 22 Lebanon 72.5% compare
- 23 Turks and Caicos Islands 68.1% compare
- 24 Saint Kitts and Nevis 66.5% compare
- 25 Bahrain 62.3% compare
- 26 Denmark 59.9% compare
More economy & growth data for Heavily indebted poor countries (HIPC)
- Households and NPISHs Final consumption expenditure (current US$) 7.44 % change on previous year (2025)
- Final consumption expenditure (current US$), per unit of GDP 0.7849 current US$ per US$ of GDP (2025)
- Households and NPISHs Final consumption expenditure (constant 2015) 714.96 constant 2015 US$ per person (2025)
- Households and NPISHs Final consumption expenditure (constant 2015) 0.5368 constant 2015 US$ per US$ of GDP (2025)
- Households and NPISHs Final consumption expenditure (constant 2015) 4.76 % change on previous year (2025)
- Households and NPISHs Final consumption expenditure (current US$) 897.08 current US$ per person (2025)
- Households and NPISHs Final consumption expenditure (current US$) 0.6735 current US$ per US$ of GDP (2025)
- General government final consumption expenditure (current US$), per 0.1114 current US$ per US$ of GDP (2025)
- General government final consumption expenditure (current US$), per 148.43 current US$ per person (2025)
- General government final consumption expenditure (constant 2015 US$) 6.61 % change on previous year (2025)
Frequently asked questions
- What is trade in services in Heavily indebted poor countries (HIPC)?
- Trade in services in Heavily indebted poor countries (HIPC) was 11.6% in 2024, according to Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest trade in services recorded in Heavily indebted poor countries (HIPC)?
- The highest recorded value was 14.0% in 2012.
- What is the lowest trade in services recorded in Heavily indebted poor countries (HIPC)?
- The lowest recorded value was 7.5% in 1991.
- How does Heavily indebted poor countries (HIPC) rank for trade in services?
- Heavily indebted poor countries (HIPC) ranks 23rd out of 47 groups with data for 2024.
- Is trade in services rising or falling in Heavily indebted poor countries (HIPC)?
- Over the last ten years it is down 11.0%. The long-run trend across the full record is rising.
- Where does this Heavily indebted poor countries (HIPC) data come from?
- The figures come from Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Trade in services (% of GDP). Statizoid updates them automatically from the source API.
Download this data
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About this data
Total trade in services includes services provided by residents to non-residents plus services provided by non-residents to residents. This indicator is expressed as a percentage of Gross Domestic Product (GDP) which is the total income earned through the production of goods and services in an economic territory during an accounting period.