• Trade is the exchange of goods between people, states, and countries.   
  • International trade refers to trading between two countries
  • Local trade occurs in cities, towns, and villages , whereas state-level trade occurs between two or more states
  • A c ountry's advancement in international trade is an indicator of its economic prosperity.
  • Export and import are the components of the trade
  • The balance of trade of a country is the difference between its export and import .
  • A favorable balance of trade exists when the value of exports exceeds the value of imports.
  • An unfavorable trade balance occurs when the value of imports exceeds the value of exports.
  • Agriculture and allied products, ores, minerals, gems, and jewelry are among the commodities exported from India
  • Petroleum and petroleum products, pearls, chemicals, and machinery are among the commodities imported into India.
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Davneet Singh

Davneet Singh has done his B.Tech from Indian Institute of Technology, Kanpur. He has been teaching from the past 14 years. He provides courses for Maths, Science, Social Science, Physics, Chemistry, Computer Science at Teachoo.