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Trade. http://www.flickr.com/photos/amagill/3366720659 /. Trade. is the buying and selling of goods between countries of the World. http://www.flickr.com/photos/amagill/3366720659 /. Electronics Imports. Imports are the goods that countries buy from others.

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Trade

http://www.flickr.com/photos/amagill/3366720659

/


Trade

is the buying and selling of goods between countries of the World.

http://www.flickr.com/photos/amagill/3366720659

/


Electronics Imports

Imports are the goods that countries buy from others.

http://www.worldmapper.org/display.php?selected=90


Electronics Exports

Exports are the goods that countries sell to others.

http://www.worldmapper.org/images/largepng/89.png


Balance of Payments

is the difference between the exports and imports of a country.

http://www.flickr.com/photos/amagill/3366720659

/


Deficit

When the imports of a country are greater than its exports.

http://www.flickr.com/photos/articnomad/8806988/


Surplus

When the exports of a country are greater than its imports.

http://www.flickr.com/photos/amagill/3367543296/



There are a number of advantages to having a trade surplus

  • The country doesn’t have to take out loans to fund public projects and services.

  • The country can invest in infrastructure and services.

  • These improvements will help improve the quality of life in the country.

  • The country can help industry develop and maintain it’s competitiveness, through grants and subsidies.

http://www.flickr.com/photos/hmtreasury/4720955639/in/set-72157624207966917/


Types of trade

http://www.flickr.com/photos/amagill/3367543296/


Free Trade

is the buying and selling of good between countries without import taxes, quotas or subsidies. It is a level playing field.

http://www.flickr.com/photos/amagill/3367543296/


Protectionism

is when a country seeks to protect its own industry by placing restrictions on the goods of foreign countries, using import taxes, quotas and subsidies.

http://www.flickr.com/photos/amagill/3367543296/


Secondary Exports- 1990

Pattern?

http://www.worldmapper.org/display.php?selected=349


Primary Exports- 2002

Pattern? Issue?

http://www.worldmapper.org/display.php?selected=348


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