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CHARACTERISTICS OF THE SERVICES SECTOR - OVERVIEW- Workshop on Statistics on International Trade in Services 1 Jump to first page I. CHARACTERISTICS OF THE SERVICES SECTOR – OVERVIEW 1. 2. 3. 4. Importance of services, and trade in services, in the economy Key distinctions: Trade in Services vs. Trade in Goods Production characteristics - Modes of Supply BOP, WTO, GATT & GATS (see slide 8) Discussion Workshop on Statistics on International Trade in Services 2 Jump to first page Share of Services Value Added in GDP Country groups and selected countries, 2000 (percentage) er ia N ig di a In il B ra z n Ja pa EU in co U S m e Lo le M id d w in in h H ig co m m e co or ld W e 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Services Agriculture Industry Workshop on Statistics on International Trade in Services 3 Jump to first page SERVICES vs. GOODS (1/2) • Trade in goods – tangible – can be stored – trade associated with cross-border shipment – data normally based on Customs documents • Trade in Services – intangible goods – cannot be stored - output delivered as used – no associated Customs documents – different modes of supply ( cross-border, consumption abroad, FATS, movement of natural persons) BUT – data reported on ITRS in some countries Workshop on Statistics on International Trade in Services 4 Jump to first page SERVICES vs. GOODS (2/2) • Services - Intangible output of a production process PRODUCTION PRODUCTS: • GOODS (tangible) • SERVICES (intangible) USERS’ NEEDS Workshop on Statistics on International Trade in Services 5 Jump to first page SERVICES vs. TRANSFERS Important difference between Services and Transfers Services: Payment for services provided (“quid pro quo”) Transfers: Payment without any goods or services provided (no “quid pro quo”) Workshop on Statistics on International Trade in Services 6 Jump to first page SERVICES vs. INCOME Services (to be reported): provision of an intangible product such as: transportation travel communications business services Income (not to be reported): Earnings from investment Salaries and wages Corporation profits Workshop on Statistics on International Trade in Services 7 Jump to first page BOP, WTO, GATT and GATS Balance of Payments - records international transactions - part of System of National Accounts World Trade Organization - established in 1995 with broad mandate General Agreement on Tariffs and Trade - predecessor to WTO - mandate restricted to trade in goods General Agreement on Trade in Services - international agreement governing trade in services Workshop on Statistics on International Trade in Services 8 Jump to first page GENERAL AGREEMENT ON TRADE IN SERVICES (GATS) Set of rules covering international trade in services Set of general obligations and disciplines GATS Pillars Countries’ schedules of specific commitments Annexes on specific issues Commitments under GATS By services sectors By mode of supply Workshop on Statistics on International Trade in Services 9 Jump to first page