COVID-19 devastates global services trade, hitting travel and transport sectors hardest.
The COVID-19 pandemic has had a negative impact on trade in services, like travel and transport, more than on trade in goods. This is because services often require face-to-face interaction, which has been limited due to the pandemic. The severity of the impact varied among different service sectors, with travel services being the most affected. This shows that the pandemic has significantly affected how services are traded between countries.