International trade





International trade is defined as trade between two or more partners from
different countries (an exporter and an importer). Early international trade
consisted mostly of barter transactions.

International trade is also a branch of economics. Traditionally,
international trade is justified in economics by comparative advantage
theory. New developments include in patterns of international trade: the
integration of countries into trade blocks (eg. European Union, NAFTA, EFTA,
CEFTA) and globalisation.