International trade in services – German SMEs are active too
News from 2018-06-21 / KfW Research
Structural change towards services is underway on a global scale and influencing international trade flows. Services account for roughly one quarter of global exports. In Germany, which is still mainly an industrial country compared with the rest of Europe, the role of the services sector is also growing. Latest figures show that services make up nearly 70 % of Germany's economic output and around 18 % of exports.
In the SME sector, around three quarters of all businesses are service providers. Small businesses are more heavily affected by restrictive regulations on trade in services and could particularly benefit from the removal of trade barriers. Advancing digitalisation is also likely to have a positive impact on their export activities.