Question

Define foreign trade. How balance of payment can be balanced by a country? Explain the trends of foreign trade recent years.​

Answer 1

Answer:

Foreign trade is the exchange of foreign currency by the means of export and import.

Balance of payment of a country can be balanced by the equal amount of export as well as import.

The trends of foreign trade recent years are :

• Cooperation among the countries - With the help of the foreign trade the friendship between two countries has relatively increased over period of time.

• Transfer of technology - With the help of the transfer of technology, the countries having less advanced technology are now growing at a relatively fast rate.