Question

Write a brief note on external trade.​

Answer 1

Answer:

Such exchange is termed as “External Trade”. It is also known as Foreign Trade or International Trade.

Explanation:

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Answer 2

Explanation:

Trade which occurs beyond the geographical boundaries of the country between people and organisations is called external trade. External trade can be classified into import, export and entrepôt.

i) Import trade: Goods are purchased from foreign countries.

ii) Export trade: Goods are sold to foreign countries.

iii) Entrepôt trade: Imported goods are exported to the other country again.