The Role of Services in International Trade; the Example of Singapore
DOI:
https://doi.org/10.24917/20801653.311.8Keywords:
development, environment, export, servicesAbstract
Of the three sectors of the economy: industry, services, agriculture, the most important role is played out by services. Their development causes a number of changes, not only economic, but also social. As a result, it influences on the shaping of development framework of each country. The range of services that are exported and their types depend on many factors with demand, supply, or even structural justifications. They influence on the development of the balance of trade, corporate profits, exchange of experiences, development of cooperation, innovation potential, and so on. The aim of the study is to present the role of services in international trade with emphasis on their diversity and the impact of the changes in spatial systems. The test method is based on the analysis of statistical data and case study of Singapore. The considerations allow to point out that in some countries, the development of export services may be dictated by the search for new competitive advantages where there are some barriers (for example territorial or environmental) to devel- opment and attempts to overcome them.
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