THE BALANCE OF PAYMENTS OF SERVICES IN NON-EURO CEE COUNTRIES DURING THE PERIOD 2014-2021. A DYNAMIC EQUILIBRIUM ANALYSIS

Panescu Ion and Cristea Nicoleta-Elena
Additional contact information
Panescu Ion: BUCHAREST UNIVERSITY OF ECONOMIC STUDIES, DOCTORAL SCHOOL OF ECONOMICS AND INTERNATIONAL BUSINESS
Cristea Nicoleta-Elena: BUCHAREST UNIVERSITY OF ECONOMIC STUDIES, DOCTORAL SCHOOL OF ACCOUNTING

Annals - Economy Series, 2023, vol. 3, 187-196

Abstract: The services gain more and more importance in the context of the new digital era as their trade volumes and contribution in gross domestic product formation grow faster than in case of goods. This paper aims at analyzing the evolution of balance of payments in five non-euro Central and East European (CEE) countries, namely Poland, Romania, Czechia, Hungary and Bulgaria, during the most recent period of time, including the boom years following the financial and global crisis together with COVID-19 pandemic. The research findings show the analysed group of countries is a heterogenous one, there is generally a positive evolution of the balance of payments in all countries except the 2020 year, with the mention the Romanian services were less affected by social distancing, Poland has the most competitive services sector of all countries and last but not least the main sub-sectors were travel, manufacturing services on physical inputs owned by others, transport and telecommunication, computer and information services. Eurostat database was used in order to calculate trade balances, shares and trends of all sub-sectors classified after the IMF's and the United Nations' methodology of International Trade in Services. Although there are still missing data in case of few sub-sectors in some countries, the main provided services could be identified and a little light could be brought on the international trade in services of the analyzed group. The research might be continued with in-depth analyse of sub-sectors and also at the firm level.

Keywords: balance of trade; trade balance; trade in services; international trade; CEE trade in services; balance of payments; trade balance equilibrium (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.utgjiu.ro/revista/ec/pdf/2023-03/23_Panescu.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cbu:jrnlec:y:2023:v:3:p:187-196

Access Statistics for this article

More articles in Annals - Economy Series from Constantin Brancusi University, Faculty of Economics Contact information at EDIRC.
Bibliographic data for series maintained by Ecobici Nicolae ( this e-mail address is bad, please contact ).