Customs clearance of goods in export mode: theoretical aspects

Abstract

Methods. The results are obtained through the use of the following methods: analysis – when studying and processing statistical data and determining the share of exports of financial services from total world service export; synthesis – when identifying essential signs of the impact of the pandemic on demand for financial services; generalization – when determining global trends in the global market of financial services and changes in the practical, legislative environment of Ukraine in the direction of modernizing the regulation of the Ukrainian financial services market. Results. It is determined, that the current stage of evolution of international financial services markets is characterized by the greatest intensification of financial flows. The composition of financial services in accordance with international norms and Ukrainian legislation is defined. It is emphasized that in recent decades, international trade in financial services has significantly intensified, becoming global in nature. The factors of intensification of international trade in financial services, which are becoming global, are determined. It is substantiated that 2020 was in many respects an unprecedented year for financial markets. The lockdowns because of the COVID-19 resulted in an aggressive monetary and fiscal reaction from the Central Bank and governments of developed markets. As a result, in 2020, the economy, production of goods and volume of services provided fell sharply due to the pandemic of the COVID-19 and related restrictions (about 38 countries have applied restrictive measures to trade in services). Financial services, on the contrary, continued to grow. The financial services market has reacted to the restrictions due to the COVID-19 pandemic by moving online rapidly. It is noted that technology in any form has always been the driving force of change, and in these uncertain times it is particularly relevant. The necessity of structuring the major trends of development of the world market of financial services is grounded. Novelty. The factors changing the conditions of functioning of the financial services market under Covid-19 pandemic are identified. Practical value. The authors have systematized the most current technological trends in the development of the global financial services market and changes in the practical, legislative environment of Ukraine in the direction of bringing it into compliance with the EU legislation.