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Economics glossary · The global economy

Trade in services

What trade in services means in economics, as one of components of the current account, with an example and a question to test yourself.

Definition
Trade in services
Trade in services records exports and imports of services, such as finance, law, software and tourism, which can cross borders without any shipment.
Example

Can you think of an example of trade in services?

Test yourself

Can you name the four components of the current account?

Learn it properly: the module

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