The paper aims to highlight the importance of services as an integral component of international trade and, in particular, to identify structural determinants affecting their balance. The analysis is made using panel regression for 1980 – 2016 and includes all the world countries. The text is based on approaches of international trade theory concerning specific features associated with services. Significant factors affecting the balance of services include the presence of foreign direct investment, financial sector development level, geographic factors, human capital stock and interaction between the balance of services and balance of goods.
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