What Are the Different Types of International Trade Services?

International Service Trade (International Service Trade) refers to a mode of trade in the import and export of international services.

National services trading

(Referring to a mode of trade in the import and export of international services)

Prior to the 1970s, international trade in services was not a noticeable area in world economic and trade relations.

As a result of competition for international markets and the promotion of comparative interests, a new form of international economic relations was formed during the industrial revolution, namely transnational investment or international investment. International investment in the modern sense is divided into direct investment and indirect investment. Direct investment forms the management and control of investment enterprises, while indirect investment only considers investment returns and does not involve management and control.

Due to the rapid development of international service trade since the 1970s, competition in the international service trade market is becoming increasingly fierce, and countries have strengthened their research on the field of international service trade for their own interests. Traditionally, international service trade theory and empirical research have been relatively neglected in the field of international economic and trade relations among countries. However, since the international trade in services became a new topic of the "Uruguayan Round" in 1986, the development of international trade in services and domestic services has become a hot spot of concern for the government, industry and commerce, and academia.

In developed countries, the government has funded academic and think tanks to conduct special research in this area, analyze the economic meaning of international trade in services, the current state of development, strategies for competing in the world market, and various possible policy actions. In developing countries, on the one hand, they are still cautiously protectionist in opening up markets for finance, insurance, transportation, audiovisual services, and commercial sales. On the other hand, they have also begun to attach importance to research in this area. Some countries have even begun to organize special research and evaluation institutions on the state of their own service industries and the state of foreign service industries, in an attempt to truly know each other in this new international economic and trade field, in order to enter and open international service trade The market practice is in an active position.