Recent Developments In Trade In Services - A Comparative Analysis Of Romania And Bulgaria

Considering the recent global trends in trade in services, influenced by the pandemic crisis and postpandemic challenges, as well as by the increasing of digitalization opportunities, this paper examines the main characteristics of trade in services of Romania and Bulgaria. We choose these two Eastern European Union countries placed in the same category at European level due to their comparable characteristics and developments. The research highlights the major role of services in both economies, revealed by their high percentage in GDP and job market, as well as in the trade balance. Our research aims to underline the local and conjunctural factors that have supported the development of their trade in services. Our analysis also includes some evidence related to the recent evolutions of the trade in digitally delivered services of Romania and Bulgaria, both countries making progress in aligning themselves with current trends of intensive implementation of the new technologies in service industries. The concluding remarks in the last part of this paper underline the key elements on which the upcoming trends in trade in service of Romania and Bulgaria are going to be shaped, considering the digital evolution prospects of both countries and the global business environment movements.