Thursday, February 7, 2008

INTRODUCTION AND TYPES OF TRADE

Introduction :

Trade is the process of taking goods from the source of product or place of procurement to the consumers. It also implies exchange of goods. Trade may be classified into internal trade, external trade, wholesale and retail trade. The exchange of goods within the country is called Internal trade. The exchange of goods between the countries is called external or foreign trade. In wholesale trade, goods are sold to retailers in large quantities. In retail trade goods are sold in small quantities to the consumers. In this section, we shall discuss about the meaning, need, merits, demerits, types, agencies involved in internation trade, mutinational companies, globalizations and world trade organizations.


Meaning:

Trade between two or more nations is called international trade or foreign trade. For example, India’s trade with U.S.A, Japan, France, Pakistan etc., is called foreign trade or external trade. Foreign trade may be bilateral or multilateral. Trade between two countries is called as bilateral trade. Trade among many countries is called multilateral trade.

Types of foreign trade:

The foreign trade transactions are classified into three types as follows.

1. Import Trade

2. Export Trade

3. Entreport Trade

Meaning:

When goods are purchased from a foreign country it is called as import trade. For example when India buys petrol from Kuwait it is called as import trade.

Import Trade policy:

In almost all the countries, the government controls the import trade. The objectives of such control are

a)proper use of foreign exchange,

b) restrictions on imports of non-essential and luxury gods and

c)developing indigenous industries.

5 comments:

Nina Athena said...

Thank you for sharing such valuable and helpful information and knowledge! This gives us more insights and inspiration. Looking forward to seeing more updates from you.

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Unknown said...

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Lelan said...

Import is about the purchase of goods by someone or business in one country from someone in another country. The inflow of goods in a country is called import trade. Basically, it involves exchange of goods and services between two or more countries. Trade is not just about imports though, it also revolves to exports. The Australian Government controls the import of certain goods to Australia. Learn more here: ACC customs clearance Perth

Anjana Seair said...

Import Export Trade Data contains a lot of information about how to do trading, what are the current market trends, where to buy a product, where to sell it, etc.

Bangladeshimportsdata.com said...

If you want to keep updated regarding what Bangladesh import the most then you need to invest in the Import Data Bangladesh report. This is completely based on import bills, invoices, and shipping bills. It has shipping records of imported products such as HS code, product name, date of shipment, price, net weight, mode of shipment, etc.