Basics: What exactly is global trade?

Publication - 2005-12-02
Global trade refers to the act of buying and selling goods and services between countries. Because “globalisation’ has made the world a much smaller place, these goods and services can travel further and faster so that – for instance – products from all over the world can be found at your corner shop. This can be anything from fruits and vegetables, to cars, banking services, clothing, and bottled water. The scale and pace of this kind of trade has only increased over time, and has become a very powerful tool. International trade is considered a prime driver of how well a country develops, and affects very much how well the economies of different countries are doing.