INTERNATIONAL SERVICES FLOWS UNDER THE IMPACT OF THE EU-27 GLOBAL ECONOMIC CRISIS

Abstract

The European Union has been severely affected by the financial crisis and by the fact that many countries have entered recession. Europe, as a region, still has the highest share in world trade in services, with more than 43.3% of exports and more than 30.7% of imports in 2011. The intern services market is less integrated than that of material goods, situation demonstrated on the one hand, by the ratio of intra-EU exports and extra-EU exports, shown by comparison for goods and services. The intern services market is not sufficiently integrated, consequence of the specific nature of services, since these activities lend themselves to a lesser extent to constitute the object of international trade.

Keywords

• services
• trade
• export
• import
• economic crisis
• globalization