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Trade in Services or Services in Trade? Metka Stare, Faculty of Social Sciences and IMAD. 14. Statistični dnevi 2004, Radenci, 8-10. november 2004. Common perception of services. Services Goods GDP 70% 30 % Trade 20% 80%
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Trade in Services or Services in Trade?Metka Stare, Faculty of Social Sciences and IMAD 14. Statistični dnevi 2004, Radenci, 8-10.november 2004
Common perception of services Services Goods GDP 70% 30% Trade 20% 80% Further tertiarisation of economy threatens its competitiveness due to stagnant character of services trade???
Causes of dichotomy • Nature of services and low tradability, conceptual differences • Globalisation and FDI growth • Increased links between goods and services • Underestimation of trade in services (narrow definition)
Defining trade in services (1) • Traditional approach: trade of services between residents and non-residents • Broad approach introduced by the GATS: 4 modes of supply Trade in services includes sales of majority-owned affiliates
Defining trade in services (2) • Manual on Statistics in ITS (2002)- gradual implementation • Some elements of services trade escape statistical recording (intra-firm trade) • Indirect trade in services (analytical category)
SLOVENIA (1) Traditional (narrow) definition of trade inservices: balance of payments data % of services in total export 1996 20,4% 2003 17,8%
SLOVENIA (2) Broad definition of trade in services includes foreign affiliates sales of services: business statistics data BoP data FATS Imports of services • 27% 73% • 17% 83%
SLOVENIA (3) Indirect trade in services embedded in goods and services: input-output table data Indirect exports Services Goods 2000 47% 53% 1993 44% 56% Services in trade are not stagnant!
Message Evolution of dimensions of trade in services due to: -globalisation, FDI, ICT introduction, -increased interlinkages between services and goodsproduction Need for improved data and analysis of services trade to better understand andevaluatethe role played byservices in trade and development