Question

Bye guys ........ur question is what is the importance of trade....??

Answer 1

the following are the reasons why the trade is important

Exporting primary goods (commodities) in which a country has a natural comparative advantage

Import substitution – where a country develops a domestic manufacturing capability and capacity e.g. tomato growing businesses can build tomato processing factories

Export- focused manufacturing production taking advantage of lower unit cost labour and increasing economies of scale in production

Answer 2

Trade is important for the development of a nation. Because no country can produce all the products and services that the population needs. Sometimes countries specialize in the production of certain commodities, manufactured products or services.

HOPE IT HELPS YOU MATE...