international trade is the buying and selling of goods and services between two or more countries.
This can take place between individuals, companies from different countries
ADVANTAGES OF INTERNATIONAL TRADE
- A country can obtain goods it can’t produce from other countries it cannot produce.
- Enable surplus goods to be exported to other countries.
- It may be cheaper to buy certain goods from abroad.
- To bring foreign currency to the country.
- To allow the exchange of technology between countries.
Disadvantages of international trade
- Causes of natural resources to be exhausted.
- Even undesirable and harmful goods may be imported e.g firearms and cocaine.
- Exposure of the county to dumping.
- It cause over-dependence between countries