International trade is exchange of capital, goods, and services across international borders or territories.. In most countries, it represents a significant share of gross domestic product (GDP). While international trade has been present throughout much of history (see Silk Road, Amber Road), its economic, social, and political importance has been on the rise in recent centuries.

Industrialization, advanced transportation, globalization, multinational corporations, and outsourcing are all having a major impact on the international trade system. Increasing international trade is crucial to the continuance of globalization. Without international trade, nations would be limited to the goods and services produced within their own borders.

International trade is in principle not different from domestic trade as the motivation and the behavior of parties involved in a trade do not change fundamentally regardless of whether trade is across a border or not. The main difference is that international trade is typically more costly than domestic trade. The reason is that a border typically imposes additional costs such as tariffs, time costs due to border delays and costs associated with country differences such as language, the legal system or culture.

Another difference between domestic and international trade is that factors of production such as capital and labour are typically more mobile within a country than across countries. Thus international trade is mostly restricted to trade in goods and services, and only to a lesser extent to trade in capital, labor or other factors of production. Then trade in goods and services can serve as a substitute for trade in factors of production. Instead of importing a factor of production, a country can import goods that make intensive use of the factor of production and are thus embodying the respective factor. An example is the import of labor-intensive goods by the United States from China. Instead of importing Chinese labor the United States is importing goods from China that were produced with Chinese labor.

International trade is also a branch of economics, which, together with international finance, forms the larger branch of international economics.

International trade uses a variety of currencies, the most important of which are held as foreign reserves by governments and central banks. Here the percentage of global cummulative reserves held for each currency between 1995 and 2005 are shown: the US dollar is the most sought-after currency, with the Euro in strong demand as well.

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Thu Sep 2 20:24:02 2010

What is the purpose of international trade dumping?
Q. What is the purpose of international trade dumping?
Asked by dawpa2000 - Fri Oct 2 11:25:47 2009 - - 1 Answers - 0 Comments

A. Increase sales in that country, even at a reduced or government funded sales price, in order to stabilize employment and reduce international trade deficits
Answered by jwishz - Fri Oct 2 22:15:18 2009

What are the Pro and cons of Joint ventures when doing international trade?
Q. Joint ventures are becoming more and more common in today's high technology world. Discuss the pros and cons of this method of international trade. This is the question i have to answer for my homework assignment and i cant seem to answer it please help thanks
Asked by krissy t - Mon Feb 11 21:07:11 2008 - - 1 Answers - 0 Comments

A. Advantages Entering new markets Reducing manufacturing costs Developing and diffusing new technologies Long term business relationships Share costs/lower costs Gain knowledge/skills/abilitie s Added distribution channels Flexibility Disadvantages Proprietary information might be shared Long term commitment
Answered by ray.deezy - Tue Feb 12 20:23:59 2008

What are the disadvantages to International Trade?
Q. It doesn't necesary have to be a very strong point or the obvious, anything that involves with the disadvantages of International Trade so fill this Q&A as much as your awesome mind can work it! This is for my international business debate team, we're on the con side! >:D remember only disadvantages!
Asked by chopzsite - Tue Feb 19 09:57:46 2008 - - 3 Answers - 0 Comments

A. Remember what caused the war of 1812? That's one disadvantage.
Answered by Qiyuan Z - Tue Feb 19 10:10:39 2008

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See also:

  • Thunderlake: Functional Trade Policy IssuesThunderlake: Functional Trade Policy Issues
    thunderlake.com
    Functional trade policy issues including development, agriculture, environment, labour, finance, investment, and transport.
  • EUROPA - External TradeEUROPA - External Trade
    ec.europa.eu
    News and information about world trade including trade issues and statistics, EU exporters' guide, public dialogue and hot topics. With documents, publications, downloads and archives.
  • The Fair Trade PageThe Fair Trade Page
    internationalecon.com
    Articles and links about issues of fairness in trade.
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Western countries need trade liberalisation more than the East - Telegraph.co.uk
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Western countries need trade liberalisation more than the East - Telegraph.co.uk
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liberalisation more than the East Telegraph.co.uk While I accept that some see international trade negotiations as an arcane subject, I do not accept the view that completing the Doha Round of trade ... Globalism Destroys America: 10 Reasons Why The World Trade Organization Is Bad ... Benzinga WTO chief wants G20 push on global trade deal Economic Times
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ABA International Delegation meets with European Business Association
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Indian Trade Profits: World's Third Largest Economy by 2040
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Indian Trade Profits: World's Third Largest Economy by 2040

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Fri, 08 Sep 2006 08:00:00 GM

Outdone only by China, India has been the second fastest-growing​ country during the past 15 years. So why is India home to 40% of the world's poor?

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The Demise of Doha and the Future of Global
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Great Decisions 2007 Specials - Guests: Daniel Drezner, Professor of international politics, Fletcher School of Law and Diplomacy, Tufts ... video.google.co​m.

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Competitive Devaluations Are Likely in Asia

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Senior Fellow at the European Center for International Political Economy and former chief Asia Commentator and World Trade Editor of the Financial ... fora.tv.

September
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Discussing September's​ international trade numbers, with CNBC's Steve Liesman, Rick Santelli and Jeff Carter, independent trader; Gary ... youtube.com.

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