International trade and foreign trade policy in the service sector is becoming an increasingly important and rapidly growing segment of foreign economic relations. Over the past decade, its volume has exceeded the level of more than 4 trillion. dollars. In the global turnover, the share of services is 20%, where 1/3 is the tourism sector. In addition, an increase in trade in services is 25% faster than global trade in goods. In Russia, the turnover of trade in services in 2010 exceeded the value of $ 2.5 billion.
International trade and trade policy in the service sector suggest features, primarily in their geographical distribution. About 70% of the cost of all exported services falls on the USA, Germany, Great Britain, Japan, France and others. These countries specialize mainly in the provision of services in the field of finance, communications, tourism, culture and education. Developing countries, either specialize in the provision of certain types of services, for example, tourism (Jamaica), transit (Panama), etc., or appear on the market as exporters of raw materials and trade in services makes up no more than 10% of total exports (Iran, Angola).
In Belarus, for example, foreign trade and trade policy are still asymmetric, with more than 70% of exports and 40% of imports being transport services. Further, in terms of foreign trade, construction services and communication services follow. Tourist services can become a promising export item for the republic, but at present their share in exports does not exceed 3%.
Foreign trade and trade policy in the exchange of services provides for a number of patterns and development trends.
Firstly, the structure of the service sector continues to improve: new types are emerging; actively distinguished as an object of trade types of services that previously had an auxiliary character; large integrated companies appear on the market, supplying the consumer with a “package” of services.
Secondly, the development of trade in services is also due to changes in technology. This implies the following trend - the increasing role of information technology. Changes in information technology, liberalization of trade in services and many other factors lead to the following trend - the growing internationalization of business activity. And this is manifested, first of all, in the activities of TNCs in the global services market. US foreign trade and trade policy, for example, is built on the production of services mainly abroad.
One of the most important trends in the development of trade in services remains the reduction of barriers in international trade and investment.
Thus, in the 21st century, foreign trade and trade policy in the service sector continue to develop dynamically and play an increasingly prominent role. This directly determines the foreign trade image of the country and the state of its currency situation. This dependence is manifested in the following:
The success of foreign trade determines the economic situation within the country.
There is a positive correlation between the exchange rate and the volume of foreign trade, but the exchange rate is not the only factor affecting foreign trade.
With the depreciation of the currency, there is an increase in exports.
The weakening of the currency is due to an increase in interest rates, and this is a very detrimental mechanism for the economy: loans are becoming more expensive.
International trade participants are interested in a stable exchange rate, the changes of which are consistent and predictable.
In a market economy, the exchange rate reflects the real macroeconomic indicators of the country, and its change can only stimulate foreign trade, without becoming a decisive factor for growth.
The growth of trade depends on the state of affairs at the enterprises themselves: high quality, low cost and competent marketing increase the competitiveness of national goods and stimulate trade growth.