4. SERVICES -
In recent decades, the service sector has become the most important sector in our economy. - This growth is similar to the other developed countries. - This is linked to the following factors: 1. Higher overall living standards: - Greater purchaising power has given rise to new needs, which must be met through srvices: leisure, culture‌ 2. The outsourcing of processes: Companies in industry and in other sectors prefer to outsource to other companies certain services hat their employees used to do. In theory, this is to save costs, leaving extrnal service companies to compte amongst themselves to offer the most competitive price. 3. Consolidaion of he welfare state: This legally guarantees the right to certain public services: education, healthcare, social services and disability care. Our taxes go towards the funding of these important activities.
4. SERVICES DOMESTIC TRADE -Domestic trade includes all commercial transactions that take place within a state. - In Spain, it is caharacterised by: 1. Small-scale businesses: These are small family businesses engaged in traditional commerce, dealing directly with costumers. This type of business helps energise neighbourhood life and contributes to the development of a sense of community and belonging. Tehy are very vulerable. They face competition from large retail operations and new ways of selling. 2. The mergence of new ways of selling: - E-commerce is experiencing significant growth. 3. Use of new technologies: - They include bar code readers 4. The proliferation of shoping centres: - These are monopolising the market in large and mid-sized cities.
4. SERVICES FOREIGN TRADE - Foreign trade is made up of commercial transactions between different countries. - The basic characteristics are: 1. Exports: These are sales of products and services produced here and sold to other countries. Spain exports food, industrial machinery and vehicles. Spain’smin trading partners are its neighbours in he European Union: France, Germany, Italy… 2. Imports: These are purchases of products and services from other countries. Spain imports machinery and ools, echnology and textiles. Spain’s main suppliers are European Union countries, the United Stats and China. 3. The balance of trade: It is the difference between what we export and what we import. Traditionally, Spain has had a negative balance of trade.