export-service

Export Service

Exports of goods and services consist of transactions in goods and services (sales, barter, and gifts) from residents to non-residents. Exports of goods occur when economic ownership of goods changes between residents and non-residents. Service Exporter is an exporter who exports the services where we can't see the product physically, i.e, intangible products. We can explain service export simply as, any service provided by a person in one nation to people or companies from another. Service exports are an important emerging trend in global trade.

Exporting services provides an opportunity for export diversification and growth, which is important for economic stability. If global demand for one sector drops, a country with diversified exports can rely on others such as banking, transport, or business services.