What are the primary benefits of international trade include?

Answer 1

• 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.

Answer 2

There are various gains which international trade brings to participating countries. However the three most commonly expressed gains are:

It allows countries to import goods which they may be unable to produce themselves, in exchange for those that they can produce. For example Bangladesh may produce excess amounts of rice, which they can exchange for more luxurious goods such as chocolate.

Secondly, it allows a country to specialise in the production of goods in which it has some form of advantage - possibly from the Natural Resources available. It is also important to highlight that the specialisation of production will implicate lowered costs as that particular country is able to invest the necessary funds for production.

Furthermore, international trade often results in the total world production level increasing - which is beneficial for the world economy as currency values are stimulated.

1.improves the quality of product

2.foreign currency is earned by trade

3.trade increases employment

4.trade improves relationship with other countries

5.trade enables the state to cover up the deficiency of consumer

6.trade imports industrialisation

Answer 3

Its helps in flow of foreign direct exchange in the countries. It helps the nation to gain profit from global trade. By this, nations can maintain stability in economy even during market fulctuations. It increases economic interdependence of nations upon each other.

Answer 4

There are plenty of benefits to pursuing a career in international trade. For one, the career paths available to you are numerous and diverse. If emphasize only main three out of them, they are:

1. More Job Opportunities

Beyond the job opportunities available in a career in international trade, the industry helps to generate jobs as companies expand their available markets. As the available market grows and market share increases, naturally manufacturing and service capabilities expand as well. The end result is more job opportunities are available for the working class.

2. Expanding Target Markets & Increasing Revenues

As mentioned in the previous benefit, more jobs are created when companies expand their target markets and demand increases. Beyond job creation, a larger target market allows companies to run production without the fear of overproduction as any excess products produced can be sold internationally. Each country a business adds to their list opens up new potential for business growth and increased revenue.

3. Improved Risk Management

In addition to a larger target market size, international trade offers the opportunity for market diversification. When a company focuses only on the domestic market, there is increased risk from economic downturns, environmental events, political influence, and many more risk factors. By becoming less dependent on a singular market, companies reduce the potential risks associated with their core market.

Answer 5

it is important bcoz if we want anything else we cant be able to have it bcoz we dont grow only.........

Answer 6

One of the main benefits of international trade is the fact that it helps the economy. It helps bring money into countries. It also brings products to those who may not otherwise have them.

Answer 7

There are a great many benefits of international trade. International trade ensures that people from around the world get what they need even when their country cannot produce it.

Answer 8

what are the 3 advantage of international trade

Answer 9

the more efficient use of the world resources and higher living standards