International trade

International trade is the trade carried out between two or more countries. In order to fulfill the needs of a country, both domestic and international products are required because a country is not self sufficient with goods and services required. Further, a country also needs to sell its excess production to other countries. Hence, almost all the countries are engaged in international trade.

There are two categories of international trade.

  1. Import trade
  2. Export trade

# Import trade Import trade is bringing goods from a foreign country or countries to this country. 

Examples :- 

Purchasing crude oil from Middle East countries
Purchasing automobiles from India, Japan etc.

# Export trade Export trade is selling domestic goods to a foreign country or countries.

Examples :-

Selling rice,rubber and tea to European countries.
Selling apparel products to European countries.


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