wat is the scope of external trade?

Answer 1

Almost all goods and services can be part of international trade. Directly, a country can export any of the food, forest products, and manufactured goods that it produces. Directly it can export some services such as financial services (like when a foreigner buys stocks on its stock market), design, music, and technical knowhow. Some other goods and services are exported in national accounts terms because they are bought by foreign visitors. (People who have bought your currency as a foreign currency and then spend it on a haircut or a museum ticket or a taxi fare etc.) The only surefire non-tradables in the economy are the provision of government services that only citizens are eligible for, such as unemployment benefit officials and income tax collectors.

In the world as a whole, about a quarter of the world economy is international trade. Trade as a proportion of GDP is least in large developed countries like the US (about 15%) and greatest in small developed countries like Singapore. (Counted once, that is, ie exports, not imports which in GDP accounting are a minus number.)

Answer 2

Trade is everybody's business. Trade policy actually involves us all, every day, whatever we do and wherever we live. Without trade, your life would be severely restricted. Think of morning tea or coffee, the cars we drive, the computers on which we increasingly depend or a holiday on another continent.

Globalisation is including more and more countries, rich and poor, in the world economy and increasing competitive pressure. This process is changing the context for world trade and increasingly permeating our everyday lives. The development of trade - if properly managed - is also an opportunity for economic growth.

The trade policy must look to secure prosperity, solidarity and security between countrys and around the globe.

The External Trade are committed to helping world trade and development, thereby boosting competitiveness, jobs and growth in the process.

A possible agenda: negotiating bilateral and multilateral trade agreements, ensuring that the rules we agree are actually applied, and working closely with multilateral institutions. This allows countrys us to tackle international trade and customs barriers, backed up where needed legislation.

The aim is to meet the challenges posed by globalisation and to to ensure that as many people as possible can seize the opportunities it offers.

It must cover all areas of activity from manufactured goods to services, intellectual property and investment; ensure that our businesses can operate fairly across the world and are ready to make full use of our powers to tackle unfair competition and dumping.