Trends in international trade in services
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2024-04-10 17:12
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LOBANOV, Natalia. Trends in international trade in services. In: Competitivitatea şi inovarea în economia cunoaşterii: Culegere de rezumate, Ed. Ediția 27, 22-23 septembrie 2023, Chişinău. Chişinău Republica Moldova: "Print-Caro" SRL, 2023, Ediţia a 27-a, Volumul 1, p. 40. ISBN 978-9975-175-98-2.
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Competitivitatea şi inovarea în economia cunoaşterii
Ediţia a 27-a, Volumul 1, 2023
Conferința "Competitivitate şi inovare în economia cunoaşterii"
Ediția 27, Chişinău, Moldova, 22-23 septembrie 2023

Trends in international trade in services

JEL: F02, F13

Pag. 40-40

Lobanov Natalia
 
Academy of Economic Studies of Moldova
 
 
Disponibil în IBN: 14 februarie 2024


Rezumat

Free international trade in services implies their unrestricted provision in national and interstate space. It contributes to expanding the market, developing competition, reducing prices and increasing the quality of services. Countries that traditionally dominate in industrial production are also competitive providers of services. In 2019, the leaders in the export of services were the USA, Great Britain, Germany, China, France, the Netherlands, Ireland, India, Singapore, Japan. The main importers - USA, China, Germany, Ireland, Great Britain, France, Netherlands, Japan, Singapore, India. In 2020, global services exports were valued at US$5 trillion, accounting for 5.9% of world GDP and 22.6% of total world trade in both goods and services. According to the UNCTAD report, the volume of world trade increased by 12% in 2022 compared to 2021 and reached a record 32 trillion dollars. Trade in goods grew by 10% to $25 trillion and in services by 15% to $7 trillion. International trade in services is influenced by the following global trends: the increasing influence of digital technologies, demographic changes and the effects of climate change. It is expected that the share of services in international trade will continue to grow in the future, given the shift in consumer preferences from goods to services that has been noticeable in recent years, both in developed countries and especially in developing countries. To date, however, there are more barriers to trade in services than to trade in goods. Thus, the liberalization of trade in services can give it a particularly big boost. In connection with the growing scale of international trade in services, it is necessary to create international and national mechanisms to regulate this process. In this context, the objective of GATS is to develop multilateral rules aimed at liberalizing world trade in services. However, in practice most countries apply restrictions to protect national service providers. It is not possible to remove all restrictions, so the GATS sets out rules and procedures for the application of accepted restrictions in international trade in services.

Cuvinte-cheie
WTO, GATS, international trade in services, liberalization, negotiations