Importance The service sector becomes especially important when the market economy emerges and develops. The developed and developing economies and economies in transit should accelerate the development of the service sector in order to boost economic growth. The service sector has been grown even more important for recent years, with its development outperforming the dynamism of the material production. It stems from active transformation of production, commodity market, investment, capital, growth in R&D. Considering crisis phenomena in the global economy and transparency policy of the Republic of Belarus, the service sector development gains relevance. Objectives The research analyzes the development of the service sector in the Republic of Belarus and its effect on the national economic development, identifies the prevailing segments and outlines the main directions for their development. Methods Using analytical methods, I review various aspects of developing the service sector in the Republic of Belarus. The synthesis method helps identify the most effective directions and mechanisms for their implementation. Results I performed a set of activities to develop the promising areas of the service sector in the Republic of Belarus. Conclusions and Relevance I conclude the legislation should be enhanced so to accelerate the development of the promising areas of the service sector in the Republic of Belarus and regulate the service market. The outcome of the research may prove useful to analyze and choose areas for developing the service market, considering the current foreign economic position of the country in the domestic and global markets.
Keywords: service, service market, export, import
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