International Trade – Lifelines of National Economy

International trade is the exchange of stocks, services and goods among the different countries for profit for themselves.

Now trade is actually one of the items needed by each country for their own survival. When two or more nation enter into an agreement to buy and sell any kind of good service or products our business men call it international trade.

It is considered as the economic barometer for a country. Export and import are the components of trade.

When the value of export exceeds the value of imports, it is called a favourable balance.

The commodities to other countries include gems and jewellery, chemicals and related products, agriculture and allied products, etc.

The commodities include petroleum crude and products, gems and jewellery, chemicals and related products, base metals, electronic items, machinery, agriculture and allied products.