Official in charge of service trade gave an overview on service trade development in 2022

By：MOFCOM Update：2023-01-31

China’s service trade maintained rapid growth in 2022. Service import and export reached 5.98019 trillion yuan, up by 12.9% year on year. In breakdown, service export reached 2.85224 trillion yuan, up 12.1%; service import reached 3.12795 yuan, up by 13.5%; running a deficit of 275.71 billion yuan.

Import and export of knowledge-intensive services grew steadily. In 2022, import and export of knowledge-intensive services reached 2.50685 trillion yuan, up 7.8%. In breakdown, the export of knowledge-intensive services reached 1.41608 trillion yuan, up 12.2%; areas with rapid growth include IP royalties, computing and information services, up by 17.5% and 13% respectively. The import of knowledge-intensive services reached 1.09077 trillion yuan, up 2.6%; areas with rapid growth include insurance, up by 35.8%. Travel service trade continued to recover. In 2022, travel service showed overall recovery, with import and export of travel services hitting 855.98 billion yuan, up by 8.4%.