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International Trade
Expert Option
International trade refers to all commercial activities that have to do with the transfer of goods, resources, ideas, technologies and services through different countries and their markets (it is part of the economy).
It is done using currencies and is subject to additional regulations established by the participants in imports and exports, as well as the governments of their countries of origin.
By conducting international business operations, the countries involved benefit each other by better positioning their products, and entering foreign markets.
It not only involves the products, but also the services. In fact, the products that have the most impact on international trade are: oil (and energy), automobiles, chemicals and drugs, textiles, cell phones (and communication products) and food. These industries are part of 70% of world exports and imports.
Comparative advantage occurs when a nation that has one or more advantages over other nations, that is, greater accessibility to resources or surplus labor, economics can also be considered among the comparative advantages.
In this way, the concept of comparative advantage means that a nation can export what it has in abundance to satisfy some deficiencies or increase its economic stability and in turn satisfy the deficiencies of other nations.
Also, companies with strong capital may look for a country that is abundant in land or labor (or large companies) to invest internationally when their local market becomes saturated.
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