International trade is the exchange of products, services and money across national borders;
essentially trade between countries. When consumers in the U.S. purchase
Swiss-made watches, Guatemalan-grown fruits, Chinese-made toys and electronics,
and Japanese-manufactured automobiles, they experience the end result of
international trade...
Foreign
trade is trade between the different countries of the world.It is also called International trade,
External trade or Inter-Regional trade.It consists of imports, exports and entrepot.
The inflow of goods in a country is called import trade whereas outflow of goods
from a country is called export trade.
Many times goods are imported for the purpose of re-export after some
processing operations.This is called entrepot trade.
Foreign trade basically takes places for
mutual satisfaction of wants and utilities of resources...” Not only goods are
traded, but services as well.
International trade also includes trade in services which is defined as
“...the sale and delivery of an intangible product, between a producer and a
consumer.
Comments
Post a Comment