international trade is called the economic barometer of the country explain with examples
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Advancement of international trade of a country is an index to its economic prosperity. (ii) As the resources are space bound, no country can survive without international trade. ... It is, therefore, considered the economic barometer for a country.
Explanation:
Advancement of international trade of a country leads to economic prosperity.
Income earned from international trade constitutes a major part of the nation's net national income
large international trade leads to revival of domestic economy
Industries are also considered as economic barometer of the country.
as it indicates the share of a country in world trade.
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