Information about International Trade

International Trade, refers to the trade of goods and services across borders, generally consisting of import trade and export trade, so it can also be called import and export trade. International trade is also called world trade. Import and export trade can regulate the utilization rate of domestic production factors, improve the international supply and demand relationship, also can adjust the economic structure, and increase fiscal revenue.

International trade major belongs to the field of economics, mainly based on economic theory, including microeconomics, macroeconomics, international economics, econometrics, introduction to world economics, political economy, etc.

International Trade Classification

International trade can be divided into:

1. Import Trade: Introduce goods or services from other countries into local market for sale.

2. Export Trade: Exports the goods or services to other countries for sale.

3. Transit Trade: The goods of country A are transported to the market of country B through the territory of country C, which is transit trade for country C. Due to the hindrance of transit trade to international trade, WTO members do not engage in transit trade.

Import trade and export trade are for each side of the transaction. For the seller, it is the export trade, and for the buyer, it is the import trade. In addition, when the goods imported into the country are re-exported, they become re-exports; when the products exported abroad are imported into the country, they are called re-imports. As I know, the biggest B2B platform for steel in China is Sinosources.

International trade characteristics

International trade in goods is a commodity exchange, and it is not different in nature from domestic trade. since it is carried out in different countries or regions, it has the following characteristics compared with domestic trade:

1. International trade in goods involves the differences and conflicts between different countries and regions in terms of policy measures and legal systems, as well as differences in language culture and social customs. The problems involved are far more complicated than domestic trade.

2. The number and amount of transactions in international trade are generally large, the transportation distance is long, and the performance time is long. Therefore, the risks borne by both parties are far greater than domestic trade.

3. International trade in goods is susceptible to conditions such as political and economic changes in the countries where the two parties are trading.

4. In addition to the two parties to the transaction, international trade in goods also involves the cooperation of transportation, insurance, banking, commodity inspection, customs and other departments. The process is much more complicated than domestic trade.

The impact of e-commerce

With the continuous development of computer technology, the world economy has gradually changed from the industrial economy to the information economy, which has led to the international trade of information products. At the same time, e-commerce is booming around the world and has become the main driving force for the rapid growth of the world economy. The rapid development of e-commerce has made international trade gradually turn to the direction of informationization and create sustainable development for international trade.