What is foreign trade nedir?

Foreign trade, also known as international trade, refers to the exchange of goods and services between different countries. It is an important aspect of the global economy that allows countries to expand their markets, access a wider variety of goods, and benefit from comparative advantages.

Foreign trade can be classified in two major categories; exports and imports. Exports refer to goods and services that are produced within a country and sold to other countries. Import, on the other hand, refers to the goods and services that are imported from other countries for domestic consumption.

Foreign trade is governed by laws and regulations in each country. Governments often impose tariffs, quotas, and other restrictions on trade to protect their domestic industries and regulate the flow of goods and services.

Foreign trade plays a crucial role in promoting economic growth and development. It allows countries to specialize in goods and services that they are comparatively better at producing, leading to efficient allocation of resources. It also provides opportunities for businesses to expand their operations and access new markets, leading to increased employment and economic activity.