Final answer:
The statement that world trade in services exceeds world trade in merchandise is false. Global trade is still primarily comprised of goods, even though the trade in services has grown substantially and forms a major part of high-income economies' production.
Step-by-step explanation:
The statement that world trade in services represents a higher percentage of total world trade than does world trade in merchandise is false. Despite the substantial growth in the services sector over the past few decades, primarily due to technological advancements in telecommunications and computers, most global trade is still dominated by the exchange of goods. High-income economies do see services comprising more than half of their total production, which points to a significant presence of services in total economic output, but this does not equate to a higher percentage in total world trade volume when compared to goods.
Statistics and reports, such as those from the World Bank and the World Trade Organization, continue to highlight the prominence of merchandise in world trade. While the global services trade sector has surpassed $6.1 trillion and makes up over one-fifth of total world trade in goods and services, it still does not exceed the trade in merchandise. However, it's paramount to acknowledge the rapidly increasing role that services play in the international trade landscape.