What is international trade?

Question

What is international trade?

Answer 1

Simply we can say the trade between two countries is called international trade. This is easy & compact definition.

Answer 2

Is an economic benefit among countries, into a trade strategy; where the main economic activities of a country, is a comparative advantage relative to other markets.

Reem Heakal defines International trade as:

“…the exchange of goods and services between countries. This type of trade gives rise to a world economy, in which prices, or supply and demand, affect and are affected by global events.”

Also adds that:

“...every kind of product can be found on the international market: food, clothes, spare parts, oil, jewelry, wine, stocks, currencies and water. Services are also traded: tourism, banking, consulting and transportation.”

If this statement is correct, it means, international trade needs: import and export.

In other words:

"the  products that are sold to the global market is an export, and products that are bought from the global market is an import."

See these links:

http://www.investopedia.com/articles/03/...

http://en.wikipedia.org/wiki/Internation...

International trade statistic:

http://www.wto.org/english/res_e/statis_...