I am not any bit surprised of how much International trade (exports and imports) contributes to every countries GDP, courtesy of statistics released by World Bank. Particularly, I see it as something that fosters relationships between different countries. I mean take a look at organizations like NAFTA and EU, they consist of countries near each other geographically. And both organizations enable reduction of non-tariff barriers to create more trades internationally. Left to me, I will say countries should specifically produce the goods they are renowned for with lower opportunity cost. They can always cut down the production of goods they aren’t known for: to get their best products out more. There’s no way you can’t define your worth with your best foot forward: trading with other countries. Honestly, I feel we even have international trade to thank for our daily consumer goods. A good example is with goods like clothing. There are quite a number of brands even in developed countries that produce and sell quality clothes at affordable prices. However, people also import the likes of Gucci from Italy and Chanel from France. Sometimes I just think to myself how good can International trade become.
Yours truly,
Isi Inyang
Vanised Ltd.
www.vanised.com
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