Intellectual dimension of international trade

Abstract

The article reveals foundations and trends for the increasing role of intellectual component in international trade nowadays. In the knowledge-based economy greater financial resources are allocated to science and education with larger inputs of intangible capital, various intellectual and creative assets into creation of public wealth, and hence higher value added in the global economy and trade. International exchange in technologies, intellectual property, science-based and intellectual services, cultural and creative industries’ services has been buoyant, notably outpacing that of the world GDP. International education market is used as a case for demonstrating new intellectual drivers of international trade development and its increasing socio-humanitarian context. Basing on international experience, the author concludes that improvement of educational services’ exports is a major opportunity to modernize substantially the country’s international specialisation.