Export, Import, Trade and Trade Balance of India with the Selected Countries of the World

Dr Dean Martin

Abstract


International trade is the exchange of capital, goods, and services across international borders or territories. It is the exchange of goods and services among nations of the world. Trading globally gives consumers and countries the opportunity to be exposed to new markets and products. Services are also traded: tourism, banking, consulting and transportation. A product that is sold to the global market is an export, and a product that is bought from the global market is an import. Industrialization, advanced technology, including 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.


Keywords


Export, Import, Trade and Trade Balance

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References


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