Services: A New Source of Value

Pajarinen MikaRouvinen PetriYlä-Anttila Pekka

Abstract

The division of the economy into three sectors – primary production, industry (mainly manufacturing), and services – has become obsolete, i.e., the dividing lines between them have become blurred and partly disappeared completely. Manufacturing and services complement each other. Many successful multinational companies are deeply engaged in combining goods and services in their operations and market offerings. Digitalization is changing the traditional understanding of services: many services can be stored and transferred as goods. Consequently digital services are growing faster than any other segment of world trade.

Publication info

Series
ETLA Muistio - ETLA Brief 11
Date
07.05.2013
ISSN
2323-2463
Pages
8
Language
English