Trade in services of China, Japan and Korea: The Way Forward

Abstract

For a long time, manufacturing and international trade have been the main contributors to economic growth for the three countries of North-east Asia. However, contrary to their trade surplus in goods, they are all countries who face trade deficit in services. Also, despite its importance in the economy, the services trade of the three Northeast Asia countries seems to contribute less to their economy compared to other developed countries; while services exports account for 29.1% of total exports on average for OECD members in 2016, they only account for 7.8%, 21.5%, 15.3% of total exports for China, Japan and Korea, respectively.