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Manufacturing Services

By Federico Mazzella ,
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  n240 Trade Thermometer

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What role does Latin America and the Caribbean play in the market for services?

Measured in terms of value added, the service sector represents 45% of global trade, rather than the 20% that is the product of traditional estimations based on gross exports and imports. Services account for between 25% and 35% of manufacturing exports in a large number of countries. This reveals the need to rethink where value added is generated in the modern economy, not only to ensure we reach the right analytical conclusions, but also to develop policy strategies that are appropriate to each country’s economic development goals.

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