INTERNATIONAL TRADE

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INTERNATIONAL TRADE:

INTERNATIONAL TRADE

INTERNATIONAL TRADE:

INTERNATIONAL TRADE IT IS THE EXCHANGE OF CAPITAL, GOODS AND SERVICES ACROSS INTERNATIONAL BORDERS. IN MOST OF THE COUNTRIES, IT REPRESENTS A SIGNIFICANT SHARE OF GDP.

INTERNATIONAL TRADE:

INTERNATIONAL TRADE INTERNATIONAL TRADE IS THE MAJOR SOURCE OF REVENUE FOR ANY NATION. IT HAS BEEN PRESENT THROUGHOUT SINCE ANCIENT PERIOD, ITS ECONOMIC, SOCIAL AND POLITICAL IMPORTANCE HAS BEEN ON THE RISE IN RECENT CENTURIES.

INTERNATIONAL TRADE:

INTERNATIONAL TRADE DIFFERENCE BETWEEN DOMESTIC TRADE AND INTERNATIONAL TRADE: DISTANCE : THE DISTANCE INVOLVED IN EXTERNAL TRADE IS MORE THAN DOMESTIC TRADE. TARIFF BARIERS: IN DOMESTIC TRADE THERE IS NO CUSTOM DUTIES, FIXED QUOTA, TARIFF BARRIERS, EXCHANGE RESTRICTIONS OR TARIFF BARRIERS.

INTERNATIONAL TRADE:

INTERNATIONAL TRADE LANGUAGE DIFFERENCE: THERE ARE DIFFERENCE IN THE LANGUAGE OF THE NATIONS OF THE WORLD. CULTURAL DIFFERENCE: A PRODUCER SHOULD HAVE FULL KNOWLEDGE ABOUT THE MARKET OF HIS PRODUCTS. FOR EXPORTING GOODS PARTICULARLY A THOROUGH RESEARCH IS UNDERTAKEN.

INTERNATIONAL TRADE:

INTERNATIONAL TRADE TECHNICAL DIFFERENCE: IN THE NATIONAL MARKET THE DIFFERENCE IN THE TECHNICAL SPECIFICATION FOR GOODS AND THEIR REQUIREMENTS IS NOT WIDE. DOCUMENTATIONS: IN HOME TRADE THERE ARE FEW DOCUMENTS INVOLVED IN THE EXCHANGE OF GOODS AND SERVICES BUT IN FOREIGN TRADE IT IS COMPLICATED.

INTERNATIONAL TRADE:

INTERNATIONAL TRADE PAYMENTS: IN THE NATIONAL TRADE GOODS ARE EXCHANGED IN THE CURRENCY UNIT OF THE COUNTRY. BUT IN CASE OF FOREIGN TRADE CURRIENCIES DIFFER WIDELY THROUGHOUT THE WORLD AND ALSO VARY IN VALUE. TRANSPORT COST: TRANSPORT COST IS LESS IN DOMESTIC TRADE THAN INTERNATIONAL TRADE.

INTERNATIONAL TRADE:

INTERNATIONAL TRADE INSURANCE COST: FOR INTERNATIONAL TRADE INSURANCE COST, FOR EXPORT OF GOODS AND SERVICES, IS VERY HIGH AND COMPLICATED WHILE IN DOMESTIC TRADE IT IS LESS COSTLY AND SIMPLE.

INTERNATIONAL TRADE:

INTERNATIONAL TRADE MOVEMENT OF GOODS: IN DOMESTIC TRADE IT IS EASIER TO MOVE GOODS FROM ONE PLACE TO ANOTHER PLACE WITHOUT MUCH RESTRICTIONS WHEREAS IN FOREIGN TRADE IT IS NOT EASY BECAUSE OF RESTRICTIONS LIKE: QUOTA, TARIFF OR EMBARGO.

INTERNATIONAL TRADE:

INTERNATIONAL TRADE MOBILITY OF FACTORS OF PRODUCTION: IN DOMESTIC TRADE THERE IS FREE MOBILITY OF FACTORS OF PRODUCTION LIKE LAND, LABOUR, CAPITAL AND ENTREPRENEURSHIP FROM ONE PLACE TO ANOTHER. BUT IN CASE OF FOREIGN TRADE IT IS NOT SO EASY.

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