View source for International trade

{{Short description|Exchange across international borders}}
{{original research|date=August 2023}}
{{World trade}}

'''International trade''' is the exchange of [[Capital (economics)|capital]], [[goods]], and [[Service (economics)|services]] across [[international borders]] or [[Territory|territories]]<ref>{{cite web|url=http://dictionary.reference.com/browse/trade|title=Trade – Define Trade at Dictionary.com|work=Dictionary.com|access-date=2007-11-07|archive-date=2010-07-27|archive-url=https://web.archive.org/web/20100727151536/http://dictionary.reference.com/browse/trade|url-status=live}}</ref> because there is a need or want of goods or services.<ref>{{Cite web |url=https://www.edumaritime.net/icc-academy |title=International Trade and Finance by ICC Academy |access-date=2020-04-05 |archive-date=2022-03-12 |archive-url=https://web.archive.org/web/20220312050735/https://www.edumaritime.net/icc-academy |url-status=live }}</ref> 

In most countries, such [[trade]] represents a significant share of [[gross domestic product]] (GDP). While international trade has existed throughout history (for example [[Uttarapatha]], [[Silk Road]], [[Amber Road]], [[salt road]]s), its economic, social, and political importance has been on the rise in recent centuries.

Carrying out trade at an international level is a complex process when compared to [[domestic trade]]. When trade takes place between two or more [[State (polity)|states]], factors like [[currency]], government policies, economy, [[Judiciary|judicial system]], laws, and markets influence trade.

To ease and justify the process of trade between countries of different economic standing in the modern era, some international economic organizations were formed, such as the [[World Trade Organization]]. These organizations work towards the facilitation and growth of international trade. Statistical services of intergovernmental and supranational organizations and governmental statistical agencies publish [[official statistics]] on international trade.

== Characteristics of global trade ==
{{More|World economy}}
A [[Product (business)|product]] that is transferred or sold from a party in one country to a party in another country is an [[export]] from the originating country, and an [[import]] to the country receiving that product.  Imports and exports are accounted for in a country's current account in the [[balance of payments]].<ref>{{Cite news|url= http://www.investopedia.com/terms/b/bop.asp|title= Balance Of Payments (BOP)|date= 2003-11-25|work= Investopedia|access-date= 2017-05-07|language= en-US|archive-date= 2017-05-12|archive-url= https://web.archive.org/web/20170512015039/http://www.investopedia.com/terms/b/bop.asp|url-status= live}}</ref>

Trading globally may give [[consumer]]s and countries the opportunity to be exposed to new [[Market (economics)|market]]s and  products. Almost every kind of product can be found in the [[international market]], for example: food, clothes, spare parts, oil, jewellery, wine, stocks, currencies, and water. Services are also traded, such as in [[tourism]], [[banking]], [[consulting]], and [[transport]]ation.

[[File:SeidenstrasseGMT.JPG|thumb|The ancient Silk Road trade routes across [[Eurasia]]]]

Advanced [[technology]] (including [[transportation]]), [[globalization]], [[industrialization]], [[outsourcing]] and [[multinational corporation]]s have major impacts on the international trade [[system|systems]].

== Differences from domestic trade ==
[[File:Flight to Newark Liberty International Airport (EWR) with view to Newark Bay - panoramio.jpg|thumb|right|upright=1.35|[[Port]]s play an important role in facilitating international trade. The [[Port of New York and New Jersey]] grew from [[New York Harbor|the original harbor]] at the convergence of the [[North River (Hudson River)|Hudson River]] and the [[East River]] at the [[Upper New York Bay]].]]
International trade is, in principle, not different from [[domestic trade]] as the motivation and the behavior of parties involved in a trade do not change fundamentally regardless of whether trade is across a border or not.

However, in practical terms, carrying out trade at an international level is typically a more complex process than domestic trade. The main difference is that international trade is typically more costly than domestic trade. This is due to the fact that cross-border trade typically incurs additional costs such as explicit [[tariff]]s as well as explicit or implicit [[non-tariff barriers]] such as time costs (due to border delays), language and cultural differences, product safety, the legal system, and so on.

Another difference between domestic and international trade is that [[factors of production]] such as capital and [[Labour economics|labor]] are often more mobile within a country than across countries. Thus, international trade is mostly restricted to trade in goods and services, and only to a lesser extent to trade in capital, labour, or other factors of production. Trade in goods and services can serve as a substitute for trade in factors of production. Instead of importing a factor of production, a country can import goods that make intensive use of that factor of production and thus embody it. An example of this is the import of labor-intensive goods by the United States from [[China]]. Instead of importing Chinese labor, the United States imports goods that were produced with Chinese labor. One report in 2010, suggested that international trade was increased when a country hosted a network of immigrants, but the trade effect was weakened when the [[Immigration|immigrants]] became assimilated into their new country.<ref name="twsA36">{{cite news
 |author= Kusum Mundra
 |title= Immigrant Networks and U.S. Bilateral Trade: The Role of Immigrant Income
 |publisher= Department of Economics, Rutgers University
 |date= October 18, 2010
 |ssrn= 1693334
}}</ref>

==History==
{{Main|Timeline of international trade}}

The [[timeline of international trade|history of international trade]] chronicles notable events that have affected trading among various economies.

==Theories and models==
{{main|International trade theory}}
There are several models that seek to explain the factors behind international trade, the welfare consequences of trade and the pattern of trade.

==Most traded export products==
[[File:Most traded export products.png|upright=3.65|frameless|center]]

==Largest countries or regions by total international trade==
{{Main|List of countries by exports|List of countries by imports}}
[[File:Volume of world merchandise exports.png|thumb|Volume of world merchandise exports]]

The following table is a list of the 30 largest trading states according to the [[World Trade Organization]] in 2024.<ref name="WTO Stats">{{cite web |title=WTO Stats |url=https://stats.wto.org/?idSavedQuery=062b87c0-a3cf-4395-ac1b-4e9bbc327ba9 |publisher=World Trade Organization |access-date=15 April 2023 |archive-date=9 November 2022 |archive-url=https://web.archive.org/web/20221109215410/https://stats.wto.org/?idSavedQuery=062b87c0-a3cf-4395-ac1b-4e9bbc327ba9 |url-status=live }}</ref><ref name="WTO Trade">{{cite web |title=WTO Stats |url=https://stats.wto.org/dashboard/services_en.html |publisher=World Trade Organization |access-date=15 April 2023 |archive-date=15 April 2023 |archive-url=https://web.archive.org/web/20230415075448/https://stats.wto.org/dashboard/services_en.html |url-status=live }}</ref>

{| class="wikitable sortable" style="text-align: right"
|+International trade (millions of [[USD]])
! data-sort-type="number"|Rank !! State !! Goods!!Services!!Goods and<br />services
|-
| – ||align=left|'''''[[World]]''''' || 49,177,769 || 16,930,782 || 66,108,551
|-
| – ||align=left|'''{{flag|European Union}}''' || 5,429,683 || 3,156,243 || 8,585,926
|-
| 1 ||align=left|'''{{flag|United States}}''' || 5,424,499 || 1,993,624 || 7,418,123
|-
| 2 ||align=left|'''{{flag|China}}''' || 6,163,999 || 1,056,457 || 7,220,456
|-
| 3 ||align=left|'''{{flag|Germany}}''' || 3,107,433 || 1,023,755 || 4,131,188
|-
| 4 ||align=left|'''{{flag|United Kingdom}}''' || 1,328,813 || 1,050,548 || 2,379,361
|-
| 5 ||align=left|'''{{flag|Netherlands}}''' || 1,732,989 || 640,644 || 2,373,633 
|-
| 6 ||align=left|'''{{flag|France}}''' || 1,390,477 || 740,560 || 2,131,037
|-
| 7 ||align=left|'''{{flag|Japan}}''' || 1,449,636 || 474,705 || 1,924,341
|-
| 8 ||align=left|'''{{flag|India}}''' || 1,144,196 || 644,197 || 1,788,393
|-
| 9 ||align=left|'''{{flag|Singapore}}''' || 964,344 || 746,688 || 1,711,032
|-
| 10 ||align=left|'''{{flag|South Korea}}''' || 1,315,376 || 301,607 || 1,616,983
|-
| 11 ||align=left|'''{{flag|Italy}}''' || 1,289,671 || 318,022 || 1,607,693
|-
| 12 ||align=left|'''{{flag|Hong Kong}}''' || 1,349,678 || 199,642 || 1,549,320 
|-
| 13 ||align=left|'''{{flag|Canada}}''' || 1,141,276 || 319,173 || 1,460,449
|-
| 14 ||align=left|'''{{nowrap|{{flag|United Arab Emirates}}}}''' || 1,142,066 || 283,962 || 1,426,028
|-
| 15 ||align=left|'''{{flag|Mexico}}''' || 1,261,074 || 125,087 || 1,386,161
|-
| 16 ||align=left|'''{{flag|Ireland}}''' || 383,054 || 986,640 || 1,369,694
|-
| 17 ||align=left|'''{{flag|Belgium}}''' || 1,048,406 || 307,233 || 1,355,639 
|-
| 18 ||align=left|'''{{flag|Spain}}''' || 896,146 || 331,898 || 1,228,044
|-
| 19 ||align=left|'''{{flag|Switzerland}}''' || 816,072 || 394,410 || 1,210,482
|-
| 20 ||align=left|'''{{flag|Taiwan}}''' || 875,482 || 129,912 || 1,005,394
|-
| 21 ||align=left|'''{{flag|Poland}}''' || 759,378 || 193,934 || 953,312
|-
| 22 ||align=left|'''{{flag|Vietnam}}''' || 782,268 || 60,044 || 842,312 
|-
| 23 ||align=left|'''{{flag|Russia}}''' || 711,706 || 121,512 || 833,218 
|-
| 24 ||align=left|'''{{flag|Australia}}''' || 637,759 || 192,015 || 829,744
|-
| 25 ||align=left|'''{{flag|Turkey}}''' || 605,875 || 168,506 || 774,381
|-
| 26 ||align=left|'''{{flag|Brazil}}''' || 615,000 || 151,513 || 766,513
|-
| 27 ||align=left|'''{{flag|Thailand}}''' || 607,339 || 145,786 || 753,125
|-
| 28 ||align=left|'''{{flag|Malaysia}}''' || 630,781 || 109,773 || 740,554
|-
| 29 ||align=left|'''{{flag|Saudi Arabia}}''' || 537,338 || 156,942 || 694,280
|-
| 30 ||align=left|'''{{flag|Sweden}}''' || 382,556 || 241,841 || 624,397
|-
|}

==Top traded commodities by value (exports)==
{{See also|List of top exporting countries by product category}}
{| class="sortable wikitable"
|+Traded commodities in 2022
! Rank !! Commodity !! Value in US$<br />(millions)!! Date of<br />information
|-
| align="center" |  1 || Mineral fuels, oils, distillation products || align="right" | 3,988,389|| align="center" |2022
|-
| align="center" |  2 || Electrical, electronic equipment || align="right" | 3,493,553|| align="center" | 2022
|-
| align="center" |  3 || Machinery, nuclear reactors, boilers, etc. || align="right" | 2,573,572|| align="center" |2022
|-
| align="center" |  4 || Vehicles (excluding railway) || align="right" | 1,621,658|| align="center" |2022
|-
| align="center" |  5 || Pharmaceutical products || align="right" | 875,345|| align="center" |2022
|-
| align="center" | 6 || Pearls, precious stones, metals, coins, etc. || align="right" | 866,839|| align="center" | 2022
|-
| align="center" |  7 || Plastics and articles thereof || align="right" |815,554|| align="center" | 2022
|-
| align="center" |  8 || Optical, photo, technical, medical, etc. apparatus || align="right" |669,128|| align="center" |2022
|-
| align="center" |  9 || Iron and steel || align="right" | 564,547|| align="center" | 2022
|-
| align="center" |  10 || Organic chemicals || align="right" | 537,854|| align="center" | 2022
|}
Source: [[International Trade Centre]]<ref>{{Cite web |title=List of exporters for the selected product in 2022 |url=https://www.trademap.org/Country_SelProduct.aspx?nvpm=1%7c%7c%7c%7c%7cTOTAL%7c%7c%7c2%7c1%7c1%7c2%7c1%7c%7c2%7c1%7c1%7c1 |access-date=2022-08-22 |website=ITC}}</ref>

==Observances==
In the US, starting in 1935, the various U.S. presidents have held "World Trade Week" observances to promote large and small companies to be more involved with the export and import of goods and services. This tradition was preceded by a local observance of "Foreign Trade Week" by the [[Los Angeles Area Chamber of Commerce]] that originated in 1927 as an expansion of [[United States National Maritime Day]].

Every year the President declares the third week of May to be World Trade Week.<ref>{{Cite web|url=http://www.eximatlasindia.com/|title=Import Export Data|website=Import Export data|access-date=2017-10-06|archive-date=2017-10-28|archive-url=https://web.archive.org/web/20171028070839/http://www.eximatlasindia.com/|url-status=live}}</ref><ref>{{Cite web|url=http://www.worldtradeweeknyc.org/|title=World Trade Week New York|website=World Trade Week New York|access-date=2017-10-06|archive-date=2005-02-19|archive-url=https://web.archive.org/web/20050219171323/http://www.worldtradeweeknyc.org/|url-status=live}}</ref>

* President [[George W. Bush]] observed World Trade Week on May 18, 2001 and May 17, 2002.<ref>{{cite news|last1=Office of the Press Secretary|author-link=White House Office of the Press Secretary|title=World Trade Week, 2001|url=https://www.federalregister.gov/documents/2001/05/22/01-13115/world-trade-week-2001|work=[[Federal Register]]|publisher=[[Federal Government of the United States]]|location=[[Washington, D.C.]]|date=May 22, 2001|access-date=March 13, 2017|archive-url=https://web.archive.org/web/20161124222044/https://www.federalregister.gov/documents/2001/05/22/01-13115/world-trade-week-2001|archive-date=November 24, 2016}} [https://www.gpo.gov/fdsys/pkg/FR-2001-05-22/pdf/01-13115.pdf Alt URL] {{Webarchive|url=https://web.archive.org/web/20171020162329/https://www.gpo.gov/fdsys/pkg/FR-2001-05-22/pdf/01-13115.pdf |date=2017-10-20 }}</ref><ref>{{cite news|last1=Office of the Press Secretary|author-link=White House Office of the Press Secretary|title=World Trade Week, 2002|url=https://www.federalregister.gov/documents/2002/05/22/02-13030/world-trade-week-2002|work=[[Federal Register]]|publisher=[[Federal Government of the United States]]|location=[[Washington, D.C.]]|date=May 22, 2002|access-date=March 12, 2017|archive-url=https://web.archive.org/web/20170313130043/https://www.federalregister.gov/documents/2002/05/22/02-13030/world-trade-week-2002|archive-date=March 13, 2017}} [https://www.gpo.gov/fdsys/pkg/FR-2002-05-22/pdf/02-13030.pdf Alt URL] {{Webarchive|url=https://web.archive.org/web/20171020162332/https://www.gpo.gov/fdsys/pkg/FR-2002-05-22/pdf/02-13030.pdf |date=2017-10-20 }}</ref>
* On May 13, 2016, President [[Barack Obama]] proclaimed May 15–21, 2016 as World Trade Week.<ref>{{cite news|url=https://obamawhitehouse.archives.gov/the-press-office/2016/05/13/presidential-proclamation-world-trade-week-2016|title=Presidential Proclamation -- World Trade Week, 2016|location=[[Washington, D.C.]]|language=en|date=May 13, 2016|via=[[NARA|National Archives]]|work=[[whitehouse.gov]]|access-date=April 11, 2017|archive-date=April 11, 2017|archive-url=https://web.archive.org/web/20170411140109/https://obamawhitehouse.archives.gov/the-press-office/2016/05/13/presidential-proclamation-world-trade-week-2016|url-status=live}}</ref>
* On May 19, 2017, President [[Donald Trump]] proclaimed May 21–27, 2017 as World Trade Week.<ref>{{cite news|last1=Office of the Press Secretary|author-link=White House Office of the Press Secretary|url=https://www.whitehouse.gov/the-press-office/2017/05/19/president-donald-j-trump-proclaims-may-21-through-may-27-2017-world|archive-url=https://web.archive.org/web/20170520071051/https://www.whitehouse.gov/the-press-office/2017/05/19/president-donald-j-trump-proclaims-may-21-through-may-27-2017-world|archive-date=May 20, 2017|title=President Donald J. Trump Proclaims May 21 through May 27, 2017, as World Trade Week|work=[[whitehouse.gov]]|publisher=[[White House]]|location=[[Washington, D.C.]]|language=en|date=May 19, 2017|access-date=May 20, 2017}}</ref><ref>{{cite news|url=https://article.wn.com/view/2017/05/20/President_Donald_J_Trump_Proclaims_May_21_through_May_27_201_z/|title=President Donald J. Trump Proclaims May 21 through May 27, 2017, as World Trade Week|author=<!--Not stated-->|work=[[World News Network]]|publisher=World News Inc.|location=United States|date=May 20, 2017|access-date=May 20, 2017|archive-date=October 20, 2017|archive-url=https://web.archive.org/web/20171020162332/https://article.wn.com/view/2017/05/20/President_Donald_J_Trump_Proclaims_May_21_through_May_27_201_z/|url-status=live}}</ref>

==International trade vs local production==
===Food security===
{{Main|Food security}}
The trade-offs between [[local food]] production and distant food production are controversial, with limited studies comparing environmental impact and scientists cautioning that regionally specific environmental impacts should be considered.<ref>{{cite journal |last1=Rothwell |first1=Alison |last2=Ridoutt |first2=Brad |last3=Page |first3=Girija |last4=Bellotti |first4=William |title=Environmental performance of local food: trade-offs and implications for climate resilience in a developed city |journal=Journal of Cleaner Production |date=15 February 2016 |volume=114 |pages=420–430 |doi=10.1016/j.jclepro.2015.04.096 |bibcode=2016JCPro.114..420R |url=https://www.sciencedirect.com/science/article/abs/pii/S0959652615004710 |access-date=4 December 2020 |language=en |issn=0959-6526 |archive-date=13 March 2023 |archive-url=https://web.archive.org/web/20230313031049/https://www.sciencedirect.com/science/article/abs/pii/S0959652615004710 |url-status=live |url-access=subscription }}</ref> A 2020 study indicated that local food crop production alone cannot meet the demand for most food crops with "current production and consumption patterns" and the locations of food production at the time of the study for 72–89% of the global population and 100 km radiuses as of early 2020.{{clarify|date=December 2024}}<ref>{{cite news |last1=Dunphy |first1=Siobhán |title=Majority of the world's population depends on imported food |url=https://www.europeanscientist.com/en/agriculture/majority-of-the-worlds-population-depends-on-imported-food/ |access-date=17 May 2020 |work=European Scientist |date=28 April 2020 |archive-date=4 May 2020 |archive-url=https://web.archive.org/web/20200504205506/https://www.europeanscientist.com/en/agriculture/majority-of-the-worlds-population-depends-on-imported-food/ |url-status=live }}</ref><ref name="phys-localfood">{{cite news |title=Relying on 'local food' is a distant dream for most of the world |url=https://phys.org/news/2020-04-local-food-distant-world.html |access-date=17 May 2020 |work=phys.org |language=en |archive-date=29 April 2020 |archive-url=https://web.archive.org/web/20200429051805/https://phys.org/news/2020-04-local-food-distant-world.html |url-status=live }}</ref><ref>{{cite journal |last1=Kinnunen |first1=Pekka |last2=Guillaume |first2=Joseph H. A. |last3=Taka |first3=Maija |last4=D'Odorico |first4=Paolo |last5=Siebert |first5=Stefan |last6=Puma |first6=Michael J. |last7=Jalava |first7=Mika |last8=Kummu |first8=Matti |title=Local food crop production can fulfil demand for less than one-third of the population |journal=Nature Food |date=April 2020 |volume=1 |issue=4 |pages=229–237 |doi=10.1038/s43016-020-0060-7 |doi-access=free |bibcode=2020NatFd...1..229K }}</ref> Studies found that [[food mile]]s are a relatively minor factor for carbon emissions, albeit increased food localization may also enable additional, more significant, environmental benefits such as recycling of energy, water, and nutrients.<ref>{{cite journal |last1=Yang |first1=Yi |last2=Campbell |first2=J. Elliott |title=Improving attributional life cycle assessment for decision support: The case of local food in sustainable design |journal=Journal of Cleaner Production |date=1 March 2017 |volume=145 |pages=361–366 |doi=10.1016/j.jclepro.2017.01.020 |bibcode=2017JCPro.145..361Y |url=https://www.sciencedirect.com/science/article/abs/pii/S0959652617300276 |access-date=4 December 2020 |language=en |issn=0959-6526 |archive-date=8 November 2021 |archive-url=https://web.archive.org/web/20211108230846/https://www.sciencedirect.com/science/article/abs/pii/S0959652617300276 |url-status=live |url-access=subscription }}</ref> For specific foods regional differences in harvest seasons may make it more environmentally friendly to import from distant regions than more local production and storage or local production in greenhouses.<ref>{{cite journal |last1=Edwards-Jones |first1=Gareth |title=Does eating local food reduce the environmental impact of food production and enhance consumer health? |journal=Proceedings of the Nutrition Society |year=2010 |volume=69 |issue=4 |pages=582–591 |doi=10.1017/S0029665110002004 |pmid=20696093 |language=en |issn=1475-2719|doi-access=free }}</ref>

===Qualitative differences and economic aspects===
Qualitative differences between substitutive products of different production regions may exist due to different legal requirements and quality standards or different levels of controllability by local production- and [[governance]]-systems which may have aspects of [[security]] beyond resource security, [[environmental protection]], [[product quality]] and [[product design]] and [[health]]. The process of transforming supply as well as [[labor rights]] may differ as well.

Local production has been reported to increase local employment in many cases. A 2018 study claimed that international trade can increase local employment.<ref>{{cite journal |last1=Wang |first1=Zhi |last2=Wei |first2=Shang-Jin |last3=Yu |first3=Xinding |last4=Zhu |first4=Kunfu |title=Re-examining the Effects of Trading with China on Local Labor Markets: A Supply Chain Perspective |journal=Working Paper Series |date=13 August 2018 |url=https://www.nber.org/papers/w24886 |access-date=4 December 2020 |publisher=National Bureau of Economic Research |doi=10.3386/w24886 |s2cid=158243880 |doi-access=free |archive-date=22 December 2020 |archive-url=https://web.archive.org/web/20201222061538/https://www.nber.org/papers/w24886 |url-status=live }}</ref> A 2016 study found that local employment and total labor income in both manufacturing and nonmanufacturing were negatively affected by rising exposure to imports.<ref>{{cite journal |last1=Malgouyres |first1=Clément |title=The Impact of Chinese Import Competition on the Local Structure of Employment and Wages: Evidence from France |journal=Journal of Regional Science |date=2017 |volume=57 |issue=3 |pages=411–441 |doi=10.1111/jors.12303 |bibcode=2017JRegS..57..411M |s2cid=56047849 |url=https://onlinelibrary.wiley.com/doi/full/10.1111/jors.12303 |access-date=4 December 2020 |language=en |issn=1467-9787 |archive-date=21 January 2022 |archive-url=https://web.archive.org/web/20220121063923/https://onlinelibrary.wiley.com/doi/full/10.1111/jors.12303 |url-status=live |url-access=subscription }}</ref>

Local production in high-income countries, rather than distant regions may require higher wages for workers. Higher wages incentivize [[automation]]<ref>{{cite web |title=How Artificial Intelligence Could Widen the Gap Between Rich and Poor Nations |url=https://blogs.imf.org/2020/12/02/how-artificial-intelligence-could-widen-the-gap-between-rich-and-poor-nations/ |website=IMF Blog |date=2 December 2020 |access-date=4 December 2020 |quote=Higher wages Advanced economies have higher wages because total factor productivity is higher. These higher wages induce firms in advanced economies to use robots more intensively, to begin with, especially when robots easily substitute for workers. Then, when robot productivity rises, the advanced economy will benefit more in the long run. This divergence grows larger, the more robots substitute for workers. |archive-date=3 December 2020 |archive-url=https://web.archive.org/web/20201203215838/https://blogs.imf.org/2020/12/02/how-artificial-intelligence-could-widen-the-gap-between-rich-and-poor-nations/ |url-status=live }}</ref> which could allow for automated workers' time to be reallocated by society and its economic mechanisms or be converted into leisure-like time.

====Specialization, production efficiency and regional differences====
Local production may require [[knowledge transfer]], [[technology transfer]] and may not be able to compete in efficiency initially with [[Division of labor |specialized]], established industries and businesses, or in consumer demand without policy measures such as [[eco-tariff]]s. Regional differences may cause specific regions to be more suitable for a specific production, thereby increasing the advantages of specific trade over specific local production. Forms of local products that are highly localized may not be able to meet the efficiency of more large-scale, highly consolidated production in terms of efficiency, including environmental impact.{{citation needed|date=December 2020}}

===Resource security===
[[File:Water, energy and land insecurity in global supply chains.webm|thumb|A video explaining findings of the study "Water, energy and land insecurity in global supply chains"]]
A systematic, and possibly first large-scale, cross-sectoral analysis of [[water security|water]], [[energy security|energy]] and [[land degradation|land]] in [[security]] in 189 countries that links total and sectorial consumption to sources showed that countries and sectors are highly exposed to over-exploited, insecure, and degraded such resources with [[economic globalization]] having decreased security of [[Global supply chain management|global supply chains]]. The 2020 study finds that most countries exhibit greater exposure to resource [[Risk management|risks]] via international trade – mainly from remote [[production (economics)|production]] sources – and that diversifying trading partners is unlikely to help countries and sectors to reduce these or to improve their resource [[self-sufficiency]].<ref>{{cite news |title=Global trade linked to resource insecurity |url=https://cosmosmagazine.com/earth/sustainability/global-trade-linked-to-resource-insecurity/ |access-date=3 December 2020 |work=Cosmos Magazine |date=26 October 2020 |language=en-AU |archive-date=3 December 2020 |archive-url=https://web.archive.org/web/20201203082429/https://cosmosmagazine.com/earth/sustainability/global-trade-linked-to-resource-insecurity/ |url-status=live }}</ref><ref>{{cite news |last1=Dunphy |first1=Siobhán |title=Is globalisation compatible with sustainable and resilient supply chains? |url=https://www.europeanscientist.com/en/agriculture/is-globalisation-compatible-with-sustainable-and-resilient-supply-chains/ |access-date=3 December 2020 |work=European Scientist |date=20 November 2020 |archive-date=2 December 2020 |archive-url=https://web.archive.org/web/20201202042615/https://www.europeanscientist.com/en/agriculture/is-globalisation-compatible-with-sustainable-and-resilient-supply-chains/ |url-status=live }}</ref><ref>{{cite web |title=Globalized economy making water, energy and land insecurity worse: study |url=https://phys.org/news/2020-10-globalized-economy-energy-insecurity-worse.html |website=phys.org |access-date=3 December 2020 |language=en |archive-date=4 December 2020 |archive-url=https://web.archive.org/web/20201204174006/https://phys.org/news/2020-10-globalized-economy-energy-insecurity-worse.html |url-status=live }}</ref><ref>{{cite journal |last1=Taherzadeh |first1=Oliver |last2=Bithell |first2=Mike |last3=Richards |first3=Keith |title=Water, energy and land insecurity in global supply chains |journal=Global Environmental Change |date=28 October 2020 |volume=67 |article-number=102158 |doi=10.1016/j.gloenvcha.2020.102158 |s2cid=228952251 |url=https://www.sciencedirect.com/science/article/abs/pii/S095937802030741X |access-date=3 December 2020 |language=en |issn=0959-3780}}</ref>

== Illicit trade ==
=== Illegal gold trade ===
A number of people in [[Africa]], including children, were using informal or "[[Artisanal mining|artisanal]]" methods to produce [[gold]]. While millions were making a livelihood through this small-scale mining, governments of [[Ghana]], [[Tanzania]] and [[Zambia]] complained about the increase in illegal production and gold [[smuggling]]. Sometimes the procedure involved criminal operations and even human and environmental cost. Investigative reports based on Africa's export data revealed that gold in large quantities is smuggled out of the country{{clarify|date=December 2024}} through the [[United Arab Emirates]], without any taxes being paid to the producing states. Analysis also reflected discrepancies in the amount exported from Africa and the total gold imported into the UAE.<ref>{{cite news|url=https://www.reuters.com/investigates/special-report/gold-africa-smuggling/ |date= April 24, 2019 |first1= David |last1=Lewis |first2=Ryan |last2=Mcneill |first3=Zandi |last3=Shabalala |title=Gold worth billions smuggled out of Africa|access-date=24 April 2019|website=Reuters|archive-date=2 January 2020|archive-url=https://web.archive.org/web/20200102225119/https://www.reuters.com/investigates/special-report/gold-africa-smuggling/|url-status=live}}</ref>

In July 2020, a report by Swissaid highlighted that the Dubai-based precious metal refining firms, including Kaloti Jewellery International Group and Trust One Financial Services (T1FS), received most of their gold from poor African states like [[Sudan]]. The gold mines in Sudan were seldom under the militias{{clarify|date=December 2024}} involved in [[war crimes]] and [[human rights abuses]]. The Swissaid report also highlighted that the illicit gold coming into [[Dubai]] from Africa is imported in large quantities by the world's largest refinery in [[Switzerland]], [[Valcambi]].<ref>{{cite news|url=https://www.letemps.ch/economie/lor-douteux-dubai-prise-suisse|title=L'or douteux de Dubaï est prisé en Suisse |trans-title=Dubai's dubious gold is prized in Switzerland |first1=Richard |last1=Etienne |access-date=16 July 2020|website=Le Temps|date=16 July 2020|archive-date=17 July 2020|archive-url=https://web.archive.org/web/20200717004043/https://www.letemps.ch/economie/lor-douteux-dubai-prise-suisse|url-status=live}}</ref><ref>{{cite web|url=https://swissaid.kinsta.cloud/wp-content/uploads/2020/07/SWISSAID-Goldstudie-EN_final-web.pdf |first1=Marc |last1=Ummel |date=July 2020 |title=GOLDEN DETOUR: The hidden face of the gold trade between the United Arab Emirates and Switzerland|access-date=16 July 2020|website=Swissaid|archive-date=18 July 2020|archive-url=https://web.archive.org/web/20200718093216/https://swissaid.kinsta.cloud/wp-content/uploads/2020/07/SWISSAID-Goldstudie-EN_final-web.pdf|url-status=live}}</ref>

Another report in March 2022 revealed the contradiction between the lucrative gold trade of West African countries and the illicit dealings. Like [[Sudan]], [[Democratic Republic of Congo]] (DRC), [[Ghana]] and other states, discrepancies were recorded between the gold production in [[Mali]] and its trade with Dubai, UAE. The third largest gold exporter in Africa, Mali imposed taxes only on the first {{Convert|50|kg|abbr=on}} of gold exports per month, which allowed several small-scale miners to enjoy tax exemptions and smuggle gold worth millions. In 2014, Mali's gold production was 45.8 tonnes, while the UAE's gold imports were 59.9 tonnes.<ref>{{cite web|url=https://enactafrica.org/enact-observer/mali-west-africas-hub-for-illegal-gold-trade-with-dubai |first1= Abdelkader |last1=Abderrahmane |title=Mali: West Africa's hub for illegal gold trade with Dubai|access-date=11 March 2022|website=Enact Africa|date=11 March 2022|archive-date=2 January 2020|archive-url=https://web.archive.org/web/20200102225119/https://enactafrica.org/enact-observer/mali-west-africas-hub-for-illegal-gold-trade-with-dubai|url-status=live}}</ref><ref>{{cite web|url=https://issafrica.org/iss-today/mali-to-dubai-artery-for-west-africas-booming-illegal-gold-trade  |first1= Abdelkader |last1=Abderrahmane |title=Mali to Dubai: artery for West Africa's booming illegal gold trade|access-date=3 August 2022|website=ISS Africa|date=3 August 2022|archive-date=2 January 2020|archive-url=https://web.archive.org/web/20200102225119/https://issafrica.org/iss-today/mali-to-dubai-artery-for-west-africas-booming-illegal-gold-trade|url-status=live}}</ref>

== Statistics ==
* [[List of countries by imports]]
* [[List of countries by exports]]
** [[List of countries by merchandise exports]]
** [[List of countries by service exports and imports]]
** [[List of top exporting countries by product category]]
** [[List of countries by exports per capita]]
* [[List of countries by leading trade partners]]
* [[List of countries by net goods exports]] ([[Balance of trade]])
* [[List of sovereign states by current account balance]]
* [[List of countries by tariff rate]]

==See also==
{{portal|border=no|Business and economics|Politics|World}}
{{Div col|colwidth=30em}}
* {{Annotated link |Index of international trade articles}}
* {{Annotated link |Aggressive legalism}}
* {{Annotated link |Concertina model}}
* {{Annotated link |Export control}}
* {{Annotated link |Free trade}}
* {{Annotated link |Free-trade area}}
* {{Annotated link |Gravity model of trade}}
* {{Annotated link |Import}}
* {{Annotated link |Systems theory|Interdependence}}
* {{Annotated link |International business}}
* {{Annotated link |International trade law}}
* {{Annotated link |Internationalization}}
* {{Annotated link |Market segmentation index}}
* {{Annotated link |Mercantilism}}
* {{Annotated link |Monopolistic competition in international trade}}
* {{Annotated link |Northwest Passage}}
* {{Annotated link |Panama Canal}}
* {{Annotated link |Suez Canal}}
* {{Annotated link |Tariff}}
* {{Annotated link |Trade Adjustment Assistance}}
* {{Annotated link |Trade bloc}}
* {{Annotated link |Trade finance}}
* {{Annotated link |Transfer problem}}
* [[United Nations Conference on Trade and Development]] (UNCTAD)
{{div col end}}

==References==
{{Reflist|30em}}

==Further reading==
* {{cite book |last1=Helpman |first1=Elhanan |title=Understanding Global Trade |date=2011 |publisher=Harvard University Press |location=Cambridge, Massachusetts |isbn=978-0-674-06078-4}}
* {{cite book |last1=Nelson |first1=Scott Reynolds |title=Oceans of Grain: How American Wheat Remade the World |date=2022 |publisher=Basic Books |location=New York |isbn=978-1-5416-4646-9}}
* {{cite journal |last1=Linsi |first1=Lukas |last2=Burgoon |first2=Brian |last3=Mügge |first3=Daniel K |title=The Problem with Trade Measurement in International Relations |journal=[[International Studies Quarterly]] |date=2023 |volume=67 |issue=2 |article-number=sqad020 |doi=10.1093/isq/sqad020 |doi-access=free}}

==Sources==
{{refbegin}}
* {{cite journal|last=Jones|first=Ronald W.|year=1961|title=Comparative Advantage and the Theory of Tariffs|journal=The Review of Economic Studies|volume=28|issue=3|pages=161–175|doi=10.2307/2295945|jstor=2295945}}
* {{cite journal|last=McKenzie|first=Lionel W.|year=1954|title=Specialization and Efficiency in World Production|journal=The Review of Economic Studies|volume=21|issue=3|pages=165–180|doi=10.2307/2295770|jstor=2295770}}
* {{cite journal|last=Samuelson|first=Paul|year=2001|title=A Ricardo-Sraffa Paradigm Comparing the Gains from Trade in Inputs and Finished Goods|journal=Journal of Economic Literature|volume=39|issue=4|pages=1204–1214|doi=10.1257/jel.39.4.1204}}
{{refend}}

==External links==
===Data===
{{Main|Trade data}}
====Statistics from intergovernmental sources====
Data on the value of exports and imports and their quantities often broken down by detailed lists of products are available in statistical collections on international trade published by the statistical services of intergovernmental and supranational organisations and national statistical institutes. The definitions and methodological concepts applied for the various statistical collections on international trade often differ in terms of definition (e.g. special trade vs. general trade) and coverage (reporting thresholds, inclusion of trade in services, estimates for smuggled goods and cross-border provision of illegal services). Metadata providing information on definitions and methods are often published along with the data.
* [http://comtrade.un.org/ United Nations Commodity Trade Database]
* [http://www.trademap.org/Index.aspx Trade Map, trade statistics for international business development]
* [http://www.wto.org/english/res_e/statis_e/statis_e.htm WTO Statistics Portal]
* [http://www.oecd.org/statsportal/0,3352,en_2825_293564_1_1_1_1_1,00.html Statistical Portal]: OECD
* [https://web.archive.org/web/20110419214922/http://epp.eurostat.ec.europa.eu/portal/page/portal/external_trade/introduction European Union International Trade in Goods Data]
* [http://faostat.fao.org/site/291/default.aspx Food and Agricultural Trade Data] {{Webarchive|url=https://web.archive.org/web/20100710162350/http://faostat.fao.org/site/291/default.aspx |date=2010-07-10 }} by [[FAO]]

===Other external links===
* [http://atlas.media.mit.edu/en/ The MIT Observatory of Economic Complexity]
* The McGill Faculty of Law runs a Regional Trade Agreements Database that contains the text of almost all preferential and regional trade agreements in the world.  [http://www.ptas.mcgill.ca/ ptas.mcgill.ca]
* [https://fraser.stlouisfed.org/subject/4232 Historical documents on international trade] available on FRASER (St Louis Fed)

{{Trade|state=expanded}}
{{Authority control}}

{{DEFAULTSORT:International Trade}}
[[Category:International trade| ]]
[[Category:Official statistics]]