þjónustujafnvægis

þjónustujafnvægis translates to "balance of services" in English and refers to the part of a country's balance of payments that records transactions related to the trade in services. This includes a wide range of economic activities where one party provides a service to a non-resident of their country.

Key components of the services balance include travel and tourism, transportation services (like shipping and air freight), financial services, insurance, telecommunications, business services (such as consulting and legal services), and royalties and license fees. When a country exports more services than it imports, it has a surplus in its services balance. Conversely, importing more services than exporting results in a deficit.

A country's services balance is an important indicator of its economic competitiveness and its integration into the global economy. A strong surplus in services can help offset deficits in other areas of the balance of payments, such as the trade in goods. Understanding and monitoring the services balance is crucial for policymakers when assessing a nation's overall economic health and formulating trade and economic strategies. It reflects the value of intangible exports and imports, which are increasingly significant in modern economies.