Global Trade

Global trade refers to the exchange of goods and services across international borders. It encompasses the import and export activities that occur between countries, allowing them to specialize in the production of certain goods while obtaining others from abroad. Global trade is a key component of the global economy, facilitating economic growth, increasing market access, and fostering international cooperation. It is influenced by factors such as trade agreements, tariffs, exchange rates, and the demand and supply of products in different markets. Global trade allows countries to leverage their comparative advantages, which can lead to more efficient production and consumption patterns, ultimately benefiting consumers through a wider variety of products and potentially lower prices.