Asked in EconomicsBusiness and IndustryInternational Business and Trade
Business and Industry
International Business and Trade
Benefits of international trade?
December 06, 2011 6:35PM
- The benefit of international trade are as follows:
- Promotion of trade: International trade helps in promoting trading activities among nations. The sales of product or importation and exportation of goods as easily promote trading activities.
- Promotion of Economic development: It helps to promote development of a country. e.g Nigeria product like petroleum are exported to other countries which in return creates a good a fair favourable balance of trade.
- Development of Market for industrial product: With the introduction of international trade, individuals can easily get access or know the particular point where raw materials could be purchase at a suitable market price.
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