Patterns And Trends In International Trade
Patterns and Trends in
International Trade
–Imports are the goods and services that we buy from people in other countries.
–Exports are the goods and services we sell to people in other countries.
Patterns and Trends in
International Trade
•Trade in Goods
–Manufactured goods represent 50 percent of our goods exports and 70 percent of our goods imports.
–Raw materials and semi-manufactured materials represent 40 percent of our exports and 15 percent of imports. –Our largest export and import items are capital goods and automobiles.
–Goods account for 80 percent of our international trade.
The rest is services.
Patterns and Trends in
International Trade
•Trade in Services
–International trade in services such as travel, transportation, and insurance is large and growing.
•Geographical Patterns of International Trade
–Canada trades with countries all over the world, but its biggest trading partner is the United States, which buys 82 percent of our exports and sells us 71 percent of our imports. –The European Union is our second largest trading partner with 10 percent of our exports and 14 percent of our imports.
Patterns and Trends in
International Trade
•Trends in the Volume of Trade
–In 1978, we exported 25 percent of our output and imported 25 percent of the goods and services that we bought.
–In 2001, we exported 43 percent of our total output and imported 38 percent of the goods and services that we bought.
Patterns and Trends in
International Trade
•Net Exports and International Borrowing
–The value of exports minus imports is called net exports.
–In 2001, net exports were $57 billion.
–When a country exports more than it imports, it lends to foreigners or buys some of their assets.
–When a country imports more than it exports, it borrows from foreigners or sells them some of its assets.
The Gains from International
Trade
–Comparative advantage is the fundamental force that generates trade between nations.
–The basis for comparative trade is divergent
International Trade
–Imports are the goods and services that we buy from people in other countries.
–Exports are the goods and services we sell to people in other countries.
Patterns and Trends in
International Trade
•Trade in Goods
–Manufactured goods represent 50 percent of our goods exports and 70 percent of our goods imports.
–Raw materials and semi-manufactured materials represent 40 percent of our exports and 15 percent of imports. –Our largest export and import items are capital goods and automobiles.
–Goods account for 80 percent of our international trade.
The rest is services.
Patterns and Trends in
International Trade
•Trade in Services
–International trade in services such as travel, transportation, and insurance is large and growing.
•Geographical Patterns of International Trade
–Canada trades with countries all over the world, but its biggest trading partner is the United States, which buys 82 percent of our exports and sells us 71 percent of our imports. –The European Union is our second largest trading partner with 10 percent of our exports and 14 percent of our imports.
Patterns and Trends in
International Trade
•Trends in the Volume of Trade
–In 1978, we exported 25 percent of our output and imported 25 percent of the goods and services that we bought.
–In 2001, we exported 43 percent of our total output and imported 38 percent of the goods and services that we bought.
Patterns and Trends in
International Trade
•Net Exports and International Borrowing
–The value of exports minus imports is called net exports.
–In 2001, net exports were $57 billion.
–When a country exports more than it imports, it lends to foreigners or buys some of their assets.
–When a country imports more than it exports, it borrows from foreigners or sells them some of its assets.
The Gains from International
Trade
–Comparative advantage is the fundamental force that generates trade between nations.
–The basis for comparative trade is divergent