Question

Give classification of foreign Trade in brief.

Answer 1

Types of Foreign Trade – The two types of Foreign Trade are: Bilateral trade: This is a trade agreement in which two countries exchange goods and services. Multilateral trade: This is the type of international tradewhere a country trade with two or more countries.

Answer 2

Classification of Foreign Trade

International Trade is the trading of capital, merchandise, and administrations between at least two nations. International Trade comprises of export trade and import trade. Import trade includes closeout of products and ventures to different countries. Import exchange consists of the buying of products and investments from different nations.

The two kinds of Foreign Trade are:

1. Bilateral trade: This is an exchange understanding of which two nations trade products and enterprises.

2. Multilateral exchange: This is the kind of universal exchange that was a national exchange with at least two nations.