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Economics
Business and Industry
International Business and Trade

Benefits of international trade?

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December 06, 2011 6:35PM
  • The benefit of international trade are as follows:
  1. 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.
  2. 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.
  3. 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.