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Question
Attempt the following.
What is the meaning of export trade?
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Solution
Trade is divided into two parts.
(a) Home trade and
(b) Foreign trade.
Home trade is a trade conducted within the country whereas foreign trade is trade with other countries. When the goods are purchased from and sold to other countries it is included in foreign trade.
Foreign trade is divided into three parts.
(a) Import trade,
(b) Export trade and
(c) Entrepot trade.
In case of export trade goods are sold to other countries e.g. A garment trader from India selling his garments to England Will be included in export trade.
Export trade plays an important role in the economy of any country, it helps a country to get valuable foreign exchange for the country, it also helps to enhance the reputation of the country in the foreign market.
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