Service Trade

Service trade involves the exchange of intangible services between countries, such as banking, education, healthcare, consulting, and tourism. Unlike physical goods, these services are delivered through actions, expertise, or digital platforms, and often cross borders via technology or personnel travel. Service trade enables countries to access specialized skills, expand markets, and boost economic growth without manufacturing or exporting physical products. It plays a crucial role in the global economy, fostering international cooperation and development by allowing consumers and businesses to benefit from services provided across borders.