Global Trade

Global trade refers to the exchange of goods and services between countries around the world. It encompasses the import and export of products, capital, and services across international borders, facilitating economic interaction and cooperation among nations. Global trade plays a crucial role in the global economy, as it allows countries to specialize in the production of specific goods and services that they can produce efficiently, while obtaining others at a lower cost through trade. This interdependence can lead to increased efficiency, access to a broader variety of goods, economic growth, and enhanced international relations. Global trade is often influenced by various factors, including trade agreements, tariffs, exchange rates, and political relations, and is subject to regulations from international bodies like the World Trade Organization (WTO).