International Service Trade means import and export business among different countries. Foreign trade includes transportation, insurance, finance. In details, it would be international transportation, international tourism, multinational banks, international financing companies and other financial services, international information processing, transmission, computer and data services, international information business, construction and engineering contracting and other labor exports, international telecommunications business, advertising, design, accounting management and other services, international leasing, maintenance, maintenance, technical guidance and other after-sales service, the international audio-visual services, education, health, culture and the arts of international exchange services, commercial wholesale and retail services.
From the historical angle, the historical origin of international trade in services is subordinated to the international trade in goods. The older the international trade in services is, the more closely linked it is to international trade in goods.
At the level of industrial structure, international investment has led to the development of related services in various countries. Such as from the traditional direct investment to various forms of international indirect investment, will inevitably require the country’s financial services industry has a faster and better development.
International investment strengthen the dependence of national economic interdependence, mutual demand for services to each other also increased.
Since the 1970s, international trade in services has developed quickly. In 1970, world trade in services totaled only $ 71 billion, and in 1980 it soared to $ 383 billion, more than fivefold in ten years. Since 1980, international trade in services has maintained a rapid growth momentum, the average annual growth rate of about 5% over the same period of international trade in goods 2.5% average annual growth rate of twice. By 1993, world trade in services had reached US $ 1,030 billion, accounting for more than a quarter of the world’s total trade. It is expected that with the implementation of the GATT “Uruguay Round” agreement and the formal operation of the World Trade Organization (WTO), countries will further open the service market, service trade will be further developed to the end of this century will account for the global Trade volume of 1/3.