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Trade
Swati Gupta Business Studies
Meaning
Trade between two or more nations is called foreign trade or international trade.
This involves the exchange of goods and services between the citizens of two
nations. when the citizens of one nation exchange goods and services with the
citizens of another nation, it is called foreign trade; for example, India's trade with
USA, Japan, France and Pakistan.
• Import Trade
• Export Trade
• Entrepot Trade.
The aim of foreign trade is to increase production and to raise the standard of
living of the people. Foreign trade helps citizens of one nation to consume and
enjoy the possession of goods produced in some other nation. There is a need of
foreign trade due to the following reasons: