Services Trade

Services trade refers to the exchange of services between countries, rather than physical goods. This can include activities such as banking, education, tourism, professional consulting, and IT services. When countries provide services to each other, it helps boost their economies and create jobs. For example, a software company in one country might provide its services to clients in another country. This trade can occur through various means, such as international travel, online platforms, or temporary relocation of service providers. Overall, services trade is an essential component of the global economy, fostering collaboration and growth across borders.