Global Trade

Global trade refers to the exchange of goods and services between countries across international borders. It encompasses all forms of trade that occur on a worldwide scale, including the import and export of products, services, and capital. Global trade is influenced by factors such as economic policies, tariffs, trade agreements, and transportation costs. It plays a crucial role in the economic development of nations, as it allows countries to specialize in the production of goods they can create efficiently while accessing a wider variety of products than would be available domestically. The dynamics of global trade can also shape international relations and economic interdependence among nations, impacting areas such as development, employment, and consumer prices.