Development of the Global It Services Market and the Role of International Investment in Romania’s Foreign Economic Cooperation

The relevance of the article is determined by the rapid development of the global IT services market, the expanding role of digitally deliverable services in international trade, and the growing importance of foreign investment for countries participating in regional economic integration. These processes require a clearer understanding of how investment, technological change and external demand interact in shaping the export capacity of national ICT sectors. Romania is examined as a country whose integration into the European Union, access to the single market, skilled workforce and participation in multinational business networks have created favourable conditions for the internationalization of information and communication services. The article discusses changes in the scale and regional structure of the global IT services market, with particular attention to Europe and Eastern Europe. It considers the transition from traditional outsourcing to cloud services, data processing, artificial intelligence and other knowledge-intensive digital solutions, as well as the importance of digital infrastructure, cybersecurity, professional skills and institutional conditions. Romania’s position in international trade in telecommunications, computer and information services is considered through indicators of exports, imports and the share of ICT services in total services exports. The analysis also covers employment and value added in the national ICT sector, annual foreign direct investment flows and the accumulated stock of foreign-controlled assets. The distinction between investment flows and stocks is important because current flows reflect short-term changes in financing and corporate transactions, whereas the accumulated stock characterizes the financial, technological and organizational base formed over a longer period. Possible channels linking international investment with Romania’s ICT services exports are discussed, including the creation of development and shared-service centres, access to foreign customers, participation in global value chains, workforce development and the adoption of international corporate practices. The possibility of a reverse relationship is also considered, since the expansion of an export-oriented ICT sector may influence investment attractiveness and reinvestment decisions. The methodological framework combines comparative, structural and dynamic analysis with an econometric model formulated in logarithmic growth rates. The specification relates changes in Romania’s ICT services exports to changes in the inward FDI stock and global ICT services exports. Attention is paid to the limitations arising from a short time series, the use of aggregate rather than sector-specific FDI data, measurement in current US dollars and the inability of statistical association alone to establish causality. Further research may use panel data, sectoral investment indicators and additional variables describing human capital, innovation, institutions and exchange-rate conditions.