Trade in services in Least developed countries
Least developed countries: Trade in services was 8.6% in 2024. ▲ Rising
Trade in services in Least developed countries, 1979–2024
Source: Balance of Payments Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of GDP.
Analysis
The most recent figure for trade in services in Least developed countries is 8.6%, measured in 2024.
The figure is down 2.5% on the previous year and down 29.6% over ten years.
Over the whole period, trade in services in Least developed countries peaked at 12.7% in 2008 and was at its lowest, 7.0%, in 1984.
That places Least developed countries 37th out of 45 groups with data for 2024, putting it in the bottom quarter.
The long-run direction has been consistently rising across the 45 years of available data.
Trade in services in Least developed countries, year by year
| Year | % of GDP | Change |
|---|---|---|
| 1979 | 7.5% | — |
| 1980 | 8.3% | +11.0% |
| 1981 | 8.0% | -3.9% |
| 1982 | 7.8% | -2.4% |
| 1984 | 7.0% | -9.7% |
| 1985 | 7.5% | +7.0% |
| 1986 | 7.4% | -2.3% |
| 1987 | 7.9% | +6.7% |
| 1988 | 8.3% | +6.1% |
| 1989 | 8.1% | -3.2% |
| 1990 | 7.7% | -4.7% |
| 1991 | 7.1% | -7.7% |
| 1992 | 10.1% | +42.7% |
| 1993 | 10.4% | +3.0% |
| 1994 | 11.1% | +6.6% |
| 1995 | 11.8% | +6.1% |
| 1996 | 10.8% | -8.1% |
| 1997 | 10.7% | -1.0% |
| 1998 | 10.7% | -0.7% |
| 1999 | 10.5% | -1.3% |
| 2000 | 10.4% | -1.4% |
| 2001 | 10.5% | +1.2% |
| 2002 | 9.9% | -6.2% |
| 2003 | 9.3% | -5.2% |
| 2004 | 10.5% | +12.5% |
| 2005 | 10.8% | +2.9% |
| 2006 | 11.1% | +3.0% |
| 2007 | 11.7% | +5.1% |
| 2008 | 12.7% | +8.9% |
| 2009 | 11.8% | -7.3% |
| 2010 | 11.5% | -2.3% |
| 2011 | 12.4% | +7.2% |
| 2012 | 12.3% | -0.5% |
| 2013 | 12.4% | +0.4% |
| 2014 | 12.2% | -1.3% |
| 2015 | 11.3% | -7.6% |
| 2016 | 10.5% | -7.1% |
| 2017 | 10.2% | -2.5% |
| 2018 | 10.5% | +2.9% |
| 2019 | 10.1% | -3.8% |
| 2020 | 7.8% | -22.5% |
| 2021 | 7.9% | +1.1% |
| 2022 | 8.5% | +6.8% |
| 2023 | 8.8% | +4.1% |
| 2024 | 8.6% | -2.5% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1970s | 7.5% | 7.5% | 7.5% | 1 |
| 1980s | 7.8% | 7.0% | 8.3% | 9 |
| 1990s | 10.1% | 7.1% | 11.8% | 10 |
| 2000s | 10.9% | 9.3% | 12.7% | 10 |
| 2010s | 11.4% | 10.1% | 12.4% | 10 |
| 2020s | 8.3% | 7.8% | 8.8% | 5 |
Countries ranked near Least developed countries
- 34 Saint Vincent and the Grenadines 47.3% compare
- 35 Belize 47.1% compare
- 36 Netherlands 46.9% compare
- 37 Montenegro 46.7% compare
- 38 Albania 46.5% compare
- 39 Belgium 46.2% compare
- 40 Djibouti 45.8% compare
More economy & growth data for Least developed countries
- Agriculture, forestry, and fishing, value added 4.0% (2025)
- Imports of goods and services 441.25 billion constant 2015 US$ (2025)
- Imports of goods and services 6.4% (2025)
- Imports of goods and services 28.5% (2025)
- External balance on goods and services -6.8% (2025)
- Trade 43.7% (2025)
- GDP (constant 2015 US$), per capita 1,112 constant 2015 US$ per person (2025)
- Agriculture, forestry, and fishing, value added 260.34 billion constant 2015 US$ (2025)
- Industry (including construction), value added 490.85 billion current US$ (2025)
- Manufacturing, value added 14.1% (2025)
Frequently asked questions
- What is trade in services in Least developed countries?
- Trade in services in Least developed countries was 8.6% 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 Least developed countries?
- The highest recorded value was 12.7% in 2008.
- What is the lowest trade in services recorded in Least developed countries?
- The lowest recorded value was 7.0% in 1984.
- How does Least developed countries rank for trade in services?
- Least developed countries ranks 37th out of 45 groups with data for 2024.
- Is trade in services rising or falling in Least developed countries?
- Over the last ten years it is down 29.6%. The long-run trend across the full record is rising.
- Where does this Least developed countries 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
CSV · JSON — 45 observations, free to reuse under CC BY 4.0 (World Bank Open Data).
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.