introduce foreign trade. discuss the importance and import Trade
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The foreign trade of a country consists of inward (import) and outward (export) movement of goods and services, which results into. outflow and inflow of foreign exchange. Thus it is also called EXIM Trade.
Maintaining a good relationship between import and export refers to the balance of trade. Importing goods brings new and exciting products to the local economy and makes it possible to build new products locally. Exporting products boosts the local economy and helps local businesses increase their revenue.
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