A. M. The World Trade Organization (WTO) reports that, in the first quarter of 2025, global trade in services showed a general slowdown, but Central America and the Caribbean managed to maintain positive performance in key areas. Payments for maritime transport services in the region increased by 19%, driven by higher demand for goods. This dynamism contrasted with the performance of other areas, where economic uncertainty and the appreciation of the dollar slowed trade in services.
In terms of tourism, Latin America and the Caribbean benefited partially from the global recovery in international travel, which grew by 5% year-on-year. Although the report does not provide specific figures for each Central American country, the positive trend in tourist arrivals and consumption was reflected in several destinations in the region, favored by health stability and the reactivation of air routes. Asian growth in the tourism sector, however, overshadowed Latin American progress.
Globally, trade in services grew by only 5% year-on-year, half the pace recorded in 2023 and 2024. Europe and North America recorded increases of just 3%, while Asia remained strong at 9%. The category of “Other commercial services” — which ranges from financial services to professionally provided digital services — was the most affected by the slowdown. In 2024, this group accounted for 60% of global trade in services, with Europe as the main exporter.
Financial services grew by just 3% globally, with the European Union and the United States increasing by only 2%, and Switzerland recording a 3% decline. In contrast, the United Kingdom stood out with a 10% increase, sustained by exports to the United States. In intellectual property services, global growth was 4%, also affected by exchange rate volatility.
The construction sector contracted by 15% year-on-year, with significant declines in China (-25%), South Korea (-15%), and the European Union (-6%). In contrast, IT services maintained solid growth thanks to demand for solutions in artificial intelligence, cybersecurity, and digital transformation, with notable increases in India (+13%) and Ireland (+9%).
