The website of the Ministry of Commerce announced on the 9th the development of service trade in the first quarter of 2023. Among them, the import and export of travel services was 337.63 billion yuan, a year-on-year increase of 56.6%.
In the first quarter of 2023, my country's trade in services will continue to grow. The total import and export of services was 1,584.01 billion yuan (RMB, the same below), a year-on-year increase of 8.7%. Among them, exports were 680.51 billion yuan, a decrease of 4.7%, and the decline rate was 7.1 percentage points lower than that of January-February; imports were 903.5 billion yuan, an increase of 21.6%; the service trade deficit was 222.99 billion yuan. It mainly presents the following characteristics:
The proportion of knowledge-intensive service trade has increased. In the first quarter, the import and export of knowledge-intensive services was 694.7 billion yuan, a year-on-year increase of 12.8%, accounting for 43.9% of the total service import and export, an increase of 1.6 percentage points year-on-year. Among them, the export of knowledge-intensive services was 415.57 billion yuan, an increase of 18.7%; the fastest growing field was insurance services, an increase of 276.4%. The import of knowledge-intensive services was 279.13 billion yuan, an increase of 5.1%; the fastest growing areas were personal cultural and entertainment services, and other commercial services, which increased by 35.4% and 20.5% respectively.
Travel services are clearly recovering. In the first quarter, the import and export of travel services was 337.63 billion yuan, a year-on-year increase of 56.6%. Among them, exports increased by 38.4%, and imports increased by 58%.
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