It dominates in the structure of world trade. World trade: types, structure, development trends

international trade- this is the exchange of goods and services between different countries, associated with the general internationalization of economic life and the intensification of the international division of labor in the conditions of the scientific and technological revolution.

Global market dynamics

Today, even the most highly developed country is not able to successfully develop the national economic system without participating in the process of global commodity exchange, since it is impossible to meet the needs of the domestic market only with domestic products. Another important factor due to which the commodity structure of international trade is rapidly developing is the uneven distribution of natural resources in the bowels of the planet. Today, world trade has become the economic basis for many countries with huge reserves of raw materials (Example: numerous countries in the Persian Gulf). The overall dynamics of international trade outpaces the overall growth of world production, which indicates a significant increase in the internationalization of the entire world economy. trade capital migration integration

International trade structure

The structure of international trade, starting from the 90s, has acquired a tendency towards a gradual reduction in the share of raw materials, fuel materials and food in global trade turnover. Experts explain the decrease in the share of raw materials for several main reasons. Among them are:

1) increase in production capacity of many developing countries
2) significant export of synthetic materials,
3) the transition of some countries to domestic raw materials
4) use of energy-saving technologies.

Geographical features

The geographical structure of international trade in recent decades has shown the world a somewhat unexpected tendency towards a gradual shift in the center of gravity of global trade towards developing countries and potential future economic and geopolitical leaders - the BRICS (Brazil-Russia-India-China-South Africa) association. Now the geographical distribution of world trade is characterized by the predominance of the “Big Six” states (Great Britain, Canada, France, Germany, Italy, the USA and Japan) with a slow but steady decline in their share in the global economic Olympus.

The world's largest exporters (in billion dollars) - USA, Germany, Japan, France. Among developing countries, the largest exporters are the following-- Hong Kong, Singapore, Korea, Malaysia, Thailand. Among countries with economies in transition, the largest exporters-- China, Russia, Poland, Czech Republic, Hungary. In most cases, the largest exporters are also the largest importers in the world market.

Exporters

1. USA 2. Great Britain 3. Germany 4. France 5. China
6. Japan 7. Spain 8. Italy 9. India 10. Netherlands
11. Ireland 12. Hong Kong 13. Belgium 14. Singapore
15. Switzerland 16. Korea 17. Denmark 18. Sweden 19. Luxembourg 20. Canada 21. Austria 22. Russian Federation 23. Greece 24. Australia 25. Norway 26. Poland 27. Turkey 28. Taiwan 29. Thailand 30. Malaysia

Evolution of integration processes. Main forms of regional integration, their characteristics.

In its development, international economic integration goes through a number of stages. Currently, there are five such successive stages: free trade zone; Customs Union; single market; economic union; economic and monetary union.

Forms of regional economic integration:

· free trade zone, when participating countries limit themselves to the abolition of customs barriers in mutual trade;
· a customs union, when the free movement of goods and services within the group complements the single customs tariff in relation to third countries and a system of proportional distribution of customs revenues is created;
· a common market, when barriers between countries are eliminated not only in mutual trade, but also for the movement of labor and capital; thus, a common market is a common market for goods, services, capital, labor;
· an economic union, including a common market and the implementation of a common economic policy, the creation of a system of interstate regulation of socio-economic processes occurring in the region;
· a monetary union, which implies an economic union based on a single banking system and, ultimately, a single currency.
· political union, implies the unification of all policies, including the unification of foreign policy, and actually leads to the formation of a new state of a federal or confederal type

Main results of regional integration:

1. The processes of economic and social development of countries are synchronized, the values of macroeconomic development indicators are closer.
2. The interdependence of economies and the integration of countries is deepening.
3. Growth of GDP and labor productivity.
4. Increase in production scale, cost reduction.
5. Formation of regional trade markets.

Commodity structure world trade is changing under the influence of scientific and technological revolution, the deepening of the international division of labor. Currently, manufacturing products are of greatest importance in world trade. The share of such types of products as machinery, equipment, vehicles, and chemical products is growing especially rapidly. The share of food, raw materials and fuel is approximately 1/4. Trade in science-intensive goods and high-tech products is developing most dynamically, which stimulates the exchange of services between countries, especially of a scientific, technical, production, communication and financial and credit nature. Trade in services(especially such as information computing, consulting, leasing, engineering) stimulates global trade in capital goods.

For geographical distribution world trade is characterized by the predominance of countries with developed market economies and industrialized countries. Developed countries trade the most with each other. Trade of developing countries is focused mainly on the markets of industrialized countries. Their share in world trade is about 25% of world trade turnover. The importance of oil exporting countries in world trade has been declining in recent years; The role of the so-called newly industrialized countries, especially Asian ones, is becoming more and more noticeable.

In modern conditions active participation of the country in world trade is associated with significant advantages, i.e. it allows:

1) make more efficient use of the resources available in the country;

2) join the world achievements of science and technology;

3) carry out structural restructuring of its economy in a shorter period of time;

4) satisfy the needs of the population more fully and diversified.

World trade in various groups of countries is naturally associated with the uniqueness of the national economies of groups of countries.

First group are the rich countries of the world, accounting for most of the world's production and income.

The rest of the world is called developing, or underdeveloped, countries.

The small volume of trade between underdeveloped countries means that a huge part of their exports consists of raw materials and materials used in the production of industrialized countries. From time to time, political disagreements arise between “rich” and “poor” countries over the distribution of income from trade.

To correct the situation within this system, measures must be taken to special measures: countries should receive some compensation for the difficulties they face. As debtors of basic raw materials, countries are particularly vulnerable to macroeconomic policy industrialized countries that determine global interest rates and commodity prices

Basic theories of international trade

Mercantilist theory developed and implemented in XVI–XVIII centuries, is first of theories of international trade.

Supporters of this theory believed that the country needed to limit imports and try to produce everything itself, as well as in every possible way encourage the export of finished products, achieving an influx of currency (gold), i.e., only export was considered economically justified. As a result of a positive balance of trade, the influx of gold into the country increased the ability to accumulate capital and thereby contributed to economic growth, employment and prosperity of the country.

Mercantilists did not take into account the benefits that countries receive in the course of the international division of labor from the import of foreign goods and services.

According to the classical theory of international trade emphasizes that “exchange is favorable for each country; every country finds an absolute advantage in it,” the necessity and importance of foreign trade is proven.

For the first time, the free trade policy was defined A. Smith.

D. Ricardo developed the ideas of A. Smith and argued that it is in the interests of each country to specialize in production in which the relative benefit is greatest, where it has the greatest advantage or the least weakness.

Ricardo's reasoning found expression in theories of comparative advantage(comparative production costs). D. Ricardo proved that international exchange is possible and desirable in the interests of all countries.

J. S. Mill showed that according to the law of supply and demand, the price of exchange is set at such a level that the total exports of each country make it possible to cover its total imports.

According to Heckscher-Ohlin theory Countries will always seek to covertly export surplus factors of production and import scarce factors of production. That is, all countries strive to export goods that require significant inputs of production factors, which they have in relative abundance. As a result Leontiev's paradox.

The paradox is that, using the Heckscher-Ohlin theorem, Leontief showed that the American economy in the post-war period specialized in those types of production that required relatively more labor than capital.

Theory of comparative advantage was developed by taking into account the following circumstances affecting international specialization:

1) heterogeneity of production factors, primarily the labor force, differing in skill levels;

2) the role of natural resources, which can be used in production only in conjunction with large amounts of capital (for example, in the extractive industries);

3) influence on the international specialization of foreign trade policies of states. The state can limit imports and stimulate production within the country and exports of products from those industries where relatively scarce factors of production.

International trade in goods and services.

Significant changes have occurred in the structure of world trade: the share of finished goods has increased and the share of food and raw materials, except fuel, has decreased. While in the 1950s the share of raw materials and fuels was approximately equal to the share of manufactured goods, by the beginning of the new century the share of raw materials, food and fuel had fallen to 30%, of which 25% were fuels and 5% were raw materials. At the same time, the share of finished products increased from 50% to 70%.

Trade in goods – 75%, trade in services – 25%.

Commodity structure of world trade:

1. Industry – 72% incl.

mechanical engineering – 37.9%

electronics – 12.6%

chemical industry – 10.9%

iron and steel – 3.1%

2. Agro-industrial complex – 8.4%, incl.

food products – 6.7%

agricultural raw materials – 1.7%

3. Extractive industry – 17.2%, incl.

minerals – 1.5%

fuel – 13.8%

non-ferrous metals – 2%

Structure of trade in services:

1. Tourist services – 32%

2. Transport services – 23%

3. Other services (financial, telecommunications, construction, educational) – 45%.

The decrease in the share of raw materials in international trade is explained by three main reasons: the expansion of the production of synthetic materials based on the development of the chemical industry, the greater use of domestic raw materials and the transition to resource-saving technologies. At the same time, trade in mineral fuels – oil, natural gas – has increased sharply as a result of the development of the chemical industry and changes in the structure of the fuel and energy balance

If earlier international trade was dominated by raw materials and final products, then in modern conditions the exchange of semi-finished products, intermediate forms of products, and individual parts of the final product is becoming important. The emergence of a powerful production apparatus of TNCs abroad and the establishment of stable cooperation ties between individual international links in technological chains have led to the fact that about 1/3 of all imports and up to 3/5 of trade in machinery and equipment are intermediate products.

The reason for this phenomenon can be called the growth of specialization in the conditions of the scientific and technological revolution. Monopolies strive to reduce unit production costs by increasing the minimum and optimal size of enterprises, achieving savings in large-scale serial production with the widespread use of exports, since the volume of the domestic market does not allow for a significant increase in production. According to research, with a doubling of serial production, unit costs are reduced by 8–10%.

In the exports of industrialized countries, the share of high-tech products is growing, which in the USA, Switzerland and Japan amounts to over 20%, in Germany and France - about 15%. Trade in microelectronics products is growing especially rapidly, where there is a tendency for China to strengthen its leading position.

Along with goods, a large sector of world trade includes the services market. It includes a wide variety of activities, including:

Services related to foreign trade, which include additional costs for goods, maritime and other transport and insurance;

Services related to technology exchange, which may include capital construction, technical cooperation, management services;

Travel, which includes receipts and income from tourism and business travel;

Banking expenses, leasing, payments related to capital income;

What all these different activities have in common is that, by their nature, they engage in international trade; in other words, they can be defined as payments for non-commodity commercial transactions concluded between citizens of more independent countries and reflected in the balance of payments.

According to some experts, by the end of the 80s, services reached 70% of world GDP, but only a small part of them was involved in world trade. Recently, their share and role in international exchange has increased significantly, primarily due to new species. According to the UN International Standardized Industrial Classification, services belong to the so-called non-tradable goods, i.e. to those that are consumed in the same country where they are produced and are not mixed between countries. Services comprise six groups (categories 4-9 of the official classification of international trade goods):

Utilities and construction;

Wholesale and retail trade, restaurants and hotels, tourist centers and campsites;

Transportation (travel), storage and communications, financial intermediation;

Defense and mandatory social services;

Education, Health and Community Service;

Other communal, social and personal.

Information and consulting services are increasingly being identified as a special type of services involved in international exchange.

As data from the International Monetary Fund show, the total volume of services accounts for about 25% of total world exports. Services are growing at a faster rate than foreign trade; doubling growth took only seven to eight years, compared with the 15 years needed to increase the volume of merchandise exports. The share of services provided by private firms is growing especially rapidly; during this period it increased two and a half times. The reasons for this growth are very diverse. The sharp decline in transport costs has increased the degree of mobility of producers and consumers of services; new forms and means of satellite communications and video technology in some cases make it possible to completely abandon personal contact between the seller and the buyer. Technological progress has increased the demand for services that previously had a commodity form. This applies to financial services, banking services, and insurance companies.

Geographical distribution of trade in services. Provided by individual countries, it is characterized by extreme unevenness in favor of developed countries.

The global services market is dominated by eight leading countries, which account for 2/3 of world service exports and more than 50% of imports; the share of the top five is more than 50% of exports. At the same time, four countries: the USA, Great Britain, Germany, and France account for 44% of all world exports of services.

Developing countries are characterized by a negative balance in foreign trade in services; the above, however, does not exclude the possibility that some of them are large exporters of services. For example, the Republic of Korea specializes in engineering, consulting and construction services, Mexico – in tourism, Singapore is a major financial center. Many small island states derive the bulk of their export income from tourism. Russia, other CIS states and the Baltic countries, although they have potential reserves for the development of tourism and transport services (they organize sea transportation), their widespread export is hampered by a weak material and technical base, as well as shortcomings of the economic mechanism.

Western European countries complement the high quality of their services by applying a wide range of restrictions on the use of foreign services, including those from the CIS countries.

If we talk about the distribution of the cost of services by individual types, tourism and transport are of greatest importance in global trade in services. The world's largest merchant fleet belongs to Japan, followed by Great Britain, Germany and Norway. Shipping accounts for 50% of these countries' service exports. The market for freight and passenger services is dominated by the United States, followed by Great Britain and France. They also hold the palm in the field of foreign tourism. A large volume of tourism services is provided by France, Italy, Canada, Switzerland, where tourism brings 40-50% of export revenue.

Specialized intergovernmental organizations such as ICAO (International Civil Aviation Organization), WTO (World Tourism Organization), IMO (International Maritime Organization) focus on regulating services within specific industries. If, for example, within the framework of ICAO, the unification of flight rules and operation of air transport, airfields, and air navigation facilities is carried out, then the World Tourism Organization determines the norms and standards for the maintenance of hotels and restaurants.

In the global plan of regulating trade in services, until recently, the General Agreement on Tariffs and Trade, created initially to regulate global foreign trade, was involved. However, in the second half of the 80s, the scope of activity of this organization was expanded at the initiative of the United States, which is the largest supplier of services to the world market; Since the 1970s, trade in services has become an official subject of negotiations under the GATT.

The main idea of the US proposal is to use the same rules in regulating services that have been developed in relation to goods: non-discrimination, national treatment, transparency (openness and uniform reading of laws), non-application of national laws to the detriment of foreign producers. On the way to implementing this program, however, there are serious problems associated, first of all, with the fact that since the consumption of services and its production are carried out almost simultaneously, regulating the conditions for the production of services means regulating the conditions for investment.

Modern international trade

The current stage of development of international trade is characterized by a number of features:

1. Acceleration of the development of international trade after the Second World War.

2. Merchandise exports increased in value by 37 times, under the influence of rising prices (inflation) and growth in volumes.

3. A characteristic feature of foreign trade is its preferential growth compared to the general pace of economic development of countries.

4. The growth of international trade in real terms is based on the expansion of industrial and agricultural production.

5. Growth trend in the economy's export quota.

The export quota of an economy is calculated as the ratio of exports of goods and services to the country's gross domestic product, and shows what share of all national products produced is sold on the world market. If the export quota of an industry is higher than that of the economy as a whole, this indicates the direction of the country's specialization in international trade.

Example: For Germany, the export quota is higher than the average for the electrical, chemical, general engineering and automotive industries.

The leading role in international trade belongs to industrialized countries.

6.Increasing the share of developing countries in world trade.

7. The leading role in world trade belongs to three centers of the world economy: the USA, the EU, Japan, which account for about 60% of world exports and imports.

8. An important feature of international trade is the uneven development of foreign trade of individual states.

The main trend in changes in the commodity structure of international trade is an increase in the share of manufacturing products and a reduction in the share of raw materials.

The situation in the markets for raw materials and mineral fuels is influenced by the struggle between two trends in the world economy. The first is the relative decline in the role of raw materials in material production. In the conditions of scientific and technological revolution, this process is accelerated under the influence of structural shifts in the economy in favor of new industries, characterized by lower material intensity, as well as energy-saving industries. An increase in the economic efficiency of using primary resources leads to a relative decrease in demand for many traditional types of raw materials. In addition, the replacement of natural raw materials with synthetic ones is expanding.

The second trend is due to such important factors as limited and non-renewable natural resources. To meet the periodically increasing demand for raw materials and fuel, new, often less economically efficient deposits are involved in industrial development. Due to the worsening environmental problems, the costs of restoring the natural environment are increasing. This causes an increase in costs and leads to an increase in prices.

Foreign trade in goods is part of international trade, which is a form of exchange of goods between sellers and buyers of different countries.

⇐ Previous2526272829303132Next ⇒

Commodity structure of international trade

1.12; in 1987-1989 - 1.72; in 1986-1992 - 2.37. As a rule, during periods of economic crises, the elasticity coefficient is lower than during periods of recession and recovery.

Terms of trade

Terms of trade is a coefficient that establishes the relationship between average world prices of exports and imports, since it is calculated as the ratio of their indices for a certain period of time. Its value varies from 0 to + ¥: if it is equal to 1, then the terms of trade are stable and maintain parity of export and import prices. If the coefficient increases (compared to the previous period), it means that the terms of trade are improving and vice versa.

MT elasticity coefficients

Import elasticity is an index characterizing changes in aggregate demand for imports resulting from changes in the terms of trade. It is calculated as a percentage of import volumes and their prices. In its numerical value it is always greater than zero and varies up to

+ ¥. If its value is less than 1, it means that a price increase of 1% led to an increase in demand by more than 1%, and therefore, demand for imports is elastic. If the coefficient is more than 1, then the demand for imports has increased by less than 1%, which means that imports are inelastic. Therefore, an improvement in the terms of trade forces a country to increase spending on imports if demand for it is elastic, and decrease it if it is inelastic, while increasing spending on exports.

The elasticity of exports and imports is also closely related to the terms of trade. When the elasticity of imports is equal to 1 (a drop in the price of imports by 1% led to an increase in its volume by 1%), the supply (export) of goods increases by 1%. This means that the elasticity of exports (Ex) will be equal to the elasticity of imports (Eim) minus 1, or Ex = Eim - 1. Thus, the higher the elasticity of imports, the more developed the market mechanism is, allowing producers to respond more quickly to changes in world prices. Low elasticity is fraught with serious economic problems for the country, if this is not associated with other reasons: high investments made in the industry earlier, the inability to quickly reorient, etc.

The above elasticity indicators can be used to characterize international trade, but they are more effective for characterizing foreign trade. This also applies to such indicators as foreign trade, export and import quotas.

MT quotas

The foreign trade quota (FTC) is defined as half the sum (S/2) of a country's exports (E) and imports (I), divided by GDP or GNP and multiplied by 100%. It characterizes the average dependence on the world market, its openness to the world economy.

Analysis of the importance of exports for a country is assessed by the export quota - the ratio of the amount of exports to GDP (GNP) multiplied by 100%; The import quota is calculated as the ratio of the amount of imports to GDP (GNP) multiplied by 100%.

An increase in the export quota indicates an increase in its importance for the development of the country’s economy, but this importance itself can be both positive and negative. It is certainly positive if the export of finished products expands, but an increase in the export of raw materials, as a rule, leads to a deterioration in the terms of trade for the exporting country. If exports are single-product, then its growth can lead to the destruction of the economy, which is why such growth is called destructive. The result of such an increase in exports is the insufficiency of funds for its further increase, and the deterioration of the terms of trade in terms of profitability does not allow the purchase of the required amount of imports with export earnings.

Trade balance

The resulting indicator characterizing a country's foreign trade is the trade balance, which is the difference between the amount of exports and imports. If this difference is positive (which is what all countries strive for), then the balance is active; if it is negative, it is passive. The trade balance is an integral part of the country's balance of payments and largely determines the latter.

Activities aimed at mediation between producers and consumers in the mutual exchange of economic goods are called trade from an economic point of view. When intermediation takes place between domestic producers and foreign consumers, or vice versa, trade becomes foreign (otherwise known as international).

international trade(international trade) - the sphere of international commodity-money relations, which represents the totality of foreign trade of all countries of the world.

In relation to one country, the term “foreign trade of a state” is usually used, in relation to trade between two countries - “interstate, mutual, bilateral trade”, and in relation to trade of all countries with each other - “international or world trade”.

Essentially, trade in the broad sense consists of its individual varieties, and in each of them there will certainly be a trade, commercial, “profitable” basis. The difference lies in the subject and forms of commercial transactions underlying the economic relations of the parties. For example, in the field of exchange of intellectual property, a product may be copyright, patent and other similar rights, and special transactions (licensing, etc.) may formalize the assignment of rights to use this specific product, in commercial essence a kind of lease, rental.

The subject of trade can be a wide variety of values and benefits, including:

1) material assets, things, movable and immovable property, i.e. goods in the narrow sense of the word;

2) “invisible” trade items, in particular services and labor;

3) results of intellectual activity, intellectual property rights, information;

4) money and securities, because in practice, money (especially “currency”) can be a commodity, because it can be traded; This is especially true for securities. Trade and monetary relations are difficult to separate.

International trade - trade across borders between countries, exchange of goods and services. Differences between countries in their competitive advantages (or comparative advantages) in producing different products give rise to the international division of labor (location of production) and determine the flow of exports and imports between countries.

International trade can bring benefits in both consumption and production. It helps improve living standards and production efficiency. International trade allows countries to consume some goods and services more cheaply through imports, and also to obtain some resources and products from other countries that would otherwise be unavailable because domestic producers are unable to bring them to market (for example, a rare raw material or a high-tech product ).

International trade encourages production efficiency by reallocating resources from regions that are better served by imports to those industries where the country has a competitive advantage relative to trading partners.

Variations in the competitive advantage of different countries are reflected in their different cost structures (i.e. competitive price) as well as different skill levels (competitiveness in product differentiation). They, in turn, are largely determined by the large basic factors of production (natural resources, labor, capital) and the degree of economic maturity (level of income per capita, general levels of costs and prices, scientific and technical qualifications, etc.). The endowment of resources and skills determines the choice of products that a country can technically produce, while relative costs, price, and product differentiation determine the economic benefits of producing products in which it has a comparative advantage over other countries.

In its simplified form, the theory of competitive advantage gives rise to international production and trade relations. Suppose country A has cheap labor, and country B has capital (capital is cheaper relative to labor) and that the product X is labor intensive, and the product Y- capital-intensive. Then country A will have a comparative advantage over country B in producing the product X, and country B will have the same advantage in producing the product Y. It follows that both countries will benefit from specialization and trade: country A produces the product X and exports some part of it in exchange for importing the product Y, and country B produces the product Y and trades with country A, selling it part Y in exchange for X.

The endowment of production factors, and therefore competitive advantages, are fixed.

Over time, competitive advantages change. This can happen in response to several types of influence:

1) the government of the country begins to implement structural programs leading to the redistribution of resources. For example, a country that appears to have an advantage in the supply of primary products such as cotton or wheat may nevertheless abandon them or shift its emphasis to industrialization and to establishing a competitive advantage in manufactured goods, where value added is always higher;

2) in response to capital movements in the international market and technology transfer, as well as in the case of redistribution of production by transnational corporations. For example, Malaysia has a competitive advantage in rubber production after British entrepreneurs established and invested in rubber plantations.

Taking into account the advantages of international trade, it should be noted that optimization of such advantages is achieved in free trade conditions(i.e., in the absence of trade bans and restrictions such as tariffs and quotas). These views have been shared by the international community since the entry into force of the General Agreement on Tariffs and Trade (GATT) and the formation of various regional free trade blocs. In practice, however, the benefits of international trade are often unequally distributed among countries, and this inevitably leads to a situation where national interests are placed above international responsibilities.

World trade is the simplest and most obvious form of implementation of the international division of labor. Each country, in accordance with its natural-geographical conditions and level of technical and economic development, participates to a greater or lesser extent in the global exchange of goods and services. Its participation in world trade is characterized by two relationships: import and export of goods and services.

The export of goods and services from a country and their sale in foreign markets is called export. The export orientation of a country, as well as the volume of goods and services it exports, are determined by the economic efficiency of their export, as well as the solution to a number of internal economic and social problems.

The import of goods and services and their sale in the domestic market of the country is called import .The range of imported goods and services is determined by the receipt of noticeable advantages compared to their domestic production. Savings can be associated both with comparative costs and with factor shortages in a given country when producing the relevant product. In addition, with the help of imports, demand is quickly saturated and needs for goods and services are satisfied, as well as the release of resources spent on the production of similar goods.

The importation of goods for the purpose of not selling them on the domestic market, but exporting them to third countries is called re-export .This is one of the forms of extracting benefits through “mediation” or one of the ways to achieve a certain balance in foreign trade with several partner countries in foreign economic activity. Re-export is also resorted to in cases where economic entities of a given country cannot enter the domestic markets of some countries for one or another political, military-strategic, or economic reasons. In this case, channels of foreign economic relations of partners from those countries with which there are normal relations are used. Re-export can also be used to carry out illegal foreign trade operations.

The entire set of foreign trade operations involving exports is called foreign trade balance of the country , in which export operations are classified as active items, and import operations are classified as passive.

The total amount of exports and imports is foreign trade turnover of the country.

The difference between the amount of exports and the amount of imports forms foreign trade balance . The trade balance is positive if exports exceed imports and, conversely, negative if imports exceed exports.

The ratio of exports and imports of goods and services in an open economy has a significant impact on the economic situation in the country.

Geographical and commodity structure of international trade.

Exports, like investment consumption, cause an increase in domestic production.

If imports increase, there will be a reorientation of part of the costs from consumption and investment to imports, i.e. services produced in other countries. And this will already entail a reduction in demand for domestically produced products, a reduction in jobs, and a reduction in income.

⇐ Previous50515253545556575859Next ⇒

Date of publication: 2014-11-26; Read: 245 | Page copyright infringement

Studopedia.org - Studopedia.Org - 2014-2018 (0.003 s)…

International trade is a form of international economic relations that involves the movement of goods and services beyond the boundaries designated by state borders. It is a form of connections between producers of different countries, which arises on the basis of the international division of labor and expresses their mutual economic dependence. The place of international trade in the system of international economic relations is determined by the fact that through it the results of all forms of world economic relations are realized - the export of capital, industrial cooperation, scientific and technical cooperation. It determines the dynamics of the international exchange of services, acts as an important prerequisite for international economic integration, and contributes to the further deepening of the international division of labor and the internationalization of economic relations.

It is advisable to consider the structure of international trade in three aspects: as trade in individual groups of goods, as the distribution of commodity flows between individual countries and groups of countries, as a system of methods for organizing trade on the world market.

The main types of international trade are: traditional trade, trade in products within the framework of cooperation, counter trade.

The foreign trade policy of individual states and their groups has a significant impact on the development, volumes and structure of international trade. Depending on the scale of intervention in international trade, a distinction is made between protectionist trade policies and free trade policies. The first provides for the protection of the domestic market from foreign competition through the use of tariff and non-tariff instruments, and minimal government intervention in foreign trade. For the most part, countries pursue a flexible foreign trade policy, using both protectionist and free trade policies.

World trade is the exchange of goods and services between state-national economies. The development of world trade led to the emergence of a world market for goods. The world market is a set of interconnected and interacting national markets of individual countries, participating in the international division of labor and connected with each other by a system of international economic relations.

International trade is growing and developing due to the profitability and expediency of the international division of labor, the concentration of production of certain products in individual countries for the purpose of their subsequent sale on the world market and thereby meeting the needs of other countries that create demand for this product.

If previously the main prerequisite for international trade was the uneven distribution of resources between different countries, today differences in the efficiency of resource use and technologies used are becoming increasingly important.

Development of international trade:

— allows you to overcome the limited national resource base;

— expands the capacity of the domestic market and establishes connections between the national market and the world market;

— provides additional income due to the difference between national and international production costs;

— expands the production capabilities of countries;

- leads to deepening specialization of production and, on this basis, increasing the efficiency of resource use and increasing production volume.

World trade is formed on the basis of foreign trade carried out by different countries.

The term “foreign trade” refers to trade with other countries, consisting of paid importation of goods. The main differences between foreign trade and domestic trade:

— goods and services on the world market are less mobile than within the country;

— when making calculations, each country uses its own national currency, hence the need to compare different currencies;

— foreign trade is subject to greater government control than domestic trade;

- a large number of buyers and a large number of competitors.

Foreign trade of an individual country is characterized by the following indicators:

1) trade turnover(sum of exports and imports);

2) foreign trade balance– ratio of exports and imports.

If exports are greater than imports, the country has a positive foreign trade balance (active trade balance), if imports are greater than exports, it has a negative balance (passive trade balance). The difference between exports and imports forms net exports.

3) export and import quota– share, respectively, of exports and

imports to GDP. The share of imports and exports in the volume of national production shows the degree of a country’s involvement in international trade, the degree of “openness” of the economy.

4) export potential(export opportunities) – share of products,

which can be sold by a given country without damaging its own economy;

5) structure of foreign trade– subjects (with whom the country trades)

and objects (what the country sells).

The state of the country’s foreign trade and the level of its development depend, first of all, on the competitiveness of the goods produced, the level of which is influenced by:

· the country's provision of resources (factors of production), including such as information and technology;

· capacity and requirements of the domestic market for product quality;

· the level of development of connections between export industries and related industries and industries;

· strategy of firms, their organizational structure, degree of development of competition in the domestic market.

World trade is usually characterized in terms of its volumes, growth rates, geographical (distribution of commodity flows between individual countries, regions) and commodity (by type of product) structure.

A feature of modern world trade from the perspective of its geography is the increase mutual trade between developed countries - most of the world trade is trade between the United States, Western Europe and Japan. The share of the Asia-Pacific region in global trade turnover is growing at a high rate. Among individual countries, the largest trade turnover falls on the United States (28% of world trade), followed by Germany, Japan, France, and the United Kingdom.

In the structure of world trade turnover, finished products absolutely predominate - 70%, and only 30% is accounted for by raw materials and food. (For comparison, in the first half of the 20th century, more than 60% of trade turnover accounted for food, raw materials and fuel). The world exchange of communications equipment, electronic equipment, computers, components, components and parts is growing at the fastest pace.

Along with goods, world trade includes the exchange of services of transport, communications, tourism, construction, insurance, etc.

Characteristics of features in modern international trade

It is worth noting the unprecedented growth in trade in services. The exchange of services on the world market is growing twice as fast as the exchange of goods.

Theoretical foundations of world trade. Why do countries trade with each other? Which products are profitable for them to buy and which to sell? What underlies the foreign trade of individual countries?

Obviously, if in one country the production costs of product A are less than the production costs of product B, and in another country the production costs of product B are less than the production costs of product A, then the exchange of goods between these countries is mutually beneficial. These are the so-called absolute advantages, formulated by A. Smith.

Developing the ideas of A. Smith, D. Ricardo created the theory of comparative advantage, proving that foreign trade is advisable even if a country does not have absolute advantages and the production costs of all its goods are higher than in another country.

The theory of comparative advantage is based on the idea that there are differences between countries in production conditions. In accordance with this, it is assumed that in any country, under any natural and climatic conditions, it is, in principle, possible to organize the production of any goods. So, in Russia, in principle, it is possible to establish the cultivation of bananas, but their cost will be high. A comparison of the costs associated with the production of certain goods leads to the conclusion that in each country there are goods that can be produced at relatively lower costs (compared to other goods). Specialization in a product whose production costs are relatively low and its sale on the foreign market will allow the country, through exchange, to acquire other goods whose production costs are relatively high.

So, comparative advantage is the ability of a country to produce some goods (and services) at relatively lower (comparative) costs than other goods.

Let's assume that Russia and Germany each produce 1000 trucks and 1000 tons of potatoes. The production costs of 1 truck and 1 ton of potatoes (in monetary units) are presented in Table 1.

⇐ Previous123456Next ⇒

Date of publication: 2015-04-10; Read: 1252 | Page copyright infringement

Studopedia.org - Studopedia.Org - 2014-2018 (0.002 s)…

International trade, that is, trade between countries, arose in ancient times. International trade is associated with such concepts as import and export. Import is the purchase by citizens of a country of goods manufactured in other countries. Export- sale of locally produced goods to citizens of other countries. There are three main reasons for international trade.

Firstly, The natural resources of the Earth used by humans are diverse and unevenly distributed. Therefore, some countries have some resources, others have others, and others have others. Some countries are rich in natural resources, others are not. However, all people need approximately the same things to maintain their livelihoods. All this gives rise to the need to exchange resources between countries. So, if one country is rich in oil and the other in fish, then the first will buy fish and sell oil, and the second will sell fish and buy oil.

The second reason for the existence of international trade can be called principle of absolute advantage. It assumes that it is more profitable to manufacture certain products in a specific country. It will be cheaper to manufacture here. The reasons for this are usually climatic conditions. For example, in Russia, vegetables can be grown in greenhouses in winter. However, the resource consumption will be greater than in countries with a warm climate all year round. Using the principle of absolute advantage in trade ensures that the Earth's resources are used in the most efficient way.

The third reason for international trade is principle of comparative advantage. In developed countries, production is more knowledge-intensive, technologically advanced, and personnel are more professional. Therefore, production costs are lower and products are cheaper. For example, manual cultivation of an agricultural crop makes its production inefficient even in a favorable climate. While the use of technology makes it possible to reduce the cost of growing crops even in unfavorable climates. As a result, products may be exported to those countries that could themselves produce and are producing these products. But imported goods are cheaper and therefore capture the market. It is profitable for the exporting country to do this, since the price of the product within itself is lower than in other countries. If, for example, it can sell a unit of production at home for 1 dollar, then abroad - for 2 dollars. It is clear that in such conditions the company will focus on exports.

We can say that the principle of comparative advantage is a consequence of the unequal development of countries, the existence of poor and rich countries. And in many ways it leads to the fact that rich countries become even richer, and poor countries become even poorer.

To ensure their development, countries are trying to increase the export of their products and protect their markets from excessive imports.

WORLD TRADE. MODERN TRENDS IN WORLD TRADE

Various methods are used for this: supporting local industries, setting duties and quotas on imported goods.

In today's global economy, negotiations between countries largely concern the rules of import and export. Finding the right balance between imported and local products in each country stimulates the development of the country itself. A bias in one direction or another can lead to negative consequences. For example, an increase in unemployment if it is profitable for people to buy imported goods; or to higher prices and loss of quality if imports are overly restricted.

The entire world economy and international trade can develop successfully only in conditions of specialization of countries in the production of specific products, which in a given country are produced with less natural resources than in other countries.

26. The main element of the international monetary system is the existence ...

Atlas of Kozelsky district of Kaluga region

1.1 From the history of world atlas cartography

The concept of “geographical atlas” has evolved over the centuries. It has gone through a complex and multifaceted path from a collection of scattered handwritten maps to the creation of a system-type work...

1.1 The world ocean and its parts

The word “ocean” itself is of ancient Greek origin and is translated as “a great boundless river flowing around the entire land”...

Biological resources of the World Ocean

2. The oceans as a habitat for life

Brazil is the economic giant of Latin America

3.1 Brazil's position in world trade

Brazil is the largest participant in world trade among South American countries. This state is traditionally one of the leading suppliers to the world market of a number of agricultural products - orange juice concentrate...

Mining industry of the United States of America

2.1 The importance of US industry in the global economy

The United States is an advanced power with great production power and enormous development potential.

In the first post-war decades, the leading position of the United States in the world economy was undeniable...

Mountain glaciers in hot countries are a unique and valuable keeper of cold and fresh water

1.1 Water cycle and global water balance

Several billion years ago, the Earth was deprived of free water. Later - 4 billion years ago - the volume of the hydrosphere was only 20 million km3, i.e. was 7000 times smaller than the modern one (Kliege 1982). The process of formation of the hydrosphere was long...

Oil and gas resources of the World Ocean

Chapter 1. The World Ocean. Its characteristics

Natural resource potential of the world economy

5. The role of natural resources in the global economy

Most countries with developed market economies consume more natural resources (especially minerals) than they have. The missing resources are imported mainly from developing countries...

Development of the Russian gas industry

2.1 Russia in the global gas supply system

The gas industry is the largest element of the Russian economy and the global energy supply system. Russia ranks first in the world in gas production, reserves and resources, providing over 21% of its global production (Fig...

State and development of the oil industry in Russia

1.World oil market and its characteristics

Socio-economic situation in Germany

1.3 Germany and the dynamics of the global economy

In the early 1990s, the world suffers from an economic recession: goods do not find buyers, investment in production is limited, profits are falling, and unemployment is frozen at a high level.

Probably…

Fuel and energy complex of Russia

9. Russia’s place in global energy trade, problems of expanding world markets

Russia ranks first in the world in the export of natural gas, third and fourth in the export of oil, petroleum products, and electricity, fifth and sixth, respectively, in the production of iron ore and coal...

Economy of India

2.1 World GDP share

India ranks 12th in terms of GDP at current prices. It is about 1.210 billion US dollars (Table 7) (Fig. 2). GDP growth in FY 2009-2010 - about 1.3% (Table 2)…

Economy of India

2.3 Share in world production

For several years after independence, India was dependent on aid from other countries due to food shortages. Over the past 40 years, food production has grown steadily, mainly...

Economy of Japan

1.1 Japanese economy before World War II

However, the prerequisites for the economic path that is now commonly called the “Japanese model” were laid somewhat earlier...

Considering world trade structure in the first half of the 20th century. (before World War II) and in subsequent years, we see significant changes. If in the first half of the century 2/3 of world trade turnover was accounted for by food, raw materials and fuel, then by the end of the century they accounted for 1/4 of trade turnover. The share of trade in manufacturing products increased from 1/3 to 3/4. And finally, more than 1/3 of all world trade in the mid-90s. is a trade in machinery and equipment.

Commodity structure of world trade changes under the influence of scientific and technological revolution, the deepening of the international division of labor. Currently, manufacturing products are of greatest importance in world trade: they account for 3/4 of world trade turnover.

The share of such types of products as machinery, equipment, vehicles, chemical products, manufacturing products, especially high-tech goods, is growing especially rapidly. The share of food, raw materials and fuel is approximately 1/4.

One of the fastest growing areas of international trade is trade in chemical products.

It should be noted that there is an increasing trend consumption of raw materials and energy resources. However, the growth rate of trade in raw materials lags noticeably behind the overall growth rate of world trade. This lag is due to the development of substitutes for raw materials, their more economical use, and the intensification of their processing. Growing at the fastest rate export of electrical and electronic equipment, which accounts for more than 25% of all exports of mechanical engineering products.

The geographical structure of world trade is characterized by the predominance of countries with developed market economies of industrialized countries. So, in the mid-90s. They accounted for about 70% of world exports.

Unlike most developing countries, "newly industrialized countries" in particular, the four “small dragons” of Asia (South Korea, Taiwan, Hong Kong, Singapore) are showing rapid growth in exports. Their share in world exports in the mid-90s. was 10.5%. China, which has been gaining economic momentum in the last decade, reached 2.9% (it was less than 1%). The USA accounts for 12.3% of world exports, Western Europe – 43%; Japan - 9.5%.

Characterizing the main trends in the geographical direction of international trade, it should be emphasized that the development and deepening of the international division of labor between industrialized countries leads to an increase in their mutual trade and a decrease in the share of developing countries.

The main trade flows take place within the framework of the “big triad”: USA – Western Europe – Japan. A notable trend in modern international trade is the increase in trade volumes between developing countries. The export expansion of the “newly industrialized countries” is especially noticeable.

Since the exports of industrialized countries are dominated by sophisticated technology, developing countries are of comparatively less interest to them as markets for such products. Complex technology is often not needed by developing countries because it does not fit into the existing production cycle. Sometimes they simply cannot afford it.

TYPES OF WORLD TRADE

international trade is a form of communication between commodity producers of different countries, arising on the basis of the international division of labor, and expresses their mutual economic dependence.

The following definition is often given in the literature: "International trade is the process of buying and selling carried out between buyers, sellers and intermediaries in different countries.” International trade includes export and import of goods, the relationship between which is called the trade balance. The UN statistical reference books provide data on the volume and dynamics of world trade as the sum of the value of exports from all countries of the world.

International trade is the paid total trade turnover between all countries of the world. However, the concept of “international trade” is also used in a more narrow sense, for example, the total trade turnover of industrialized countries, the total trade turnover of developing countries, the total trade turnover of countries of a continent, region, for example, countries of Eastern Europe, etc.

Types of world trade:

– wholesale trade;

– trading on commodity exchanges;

– trading on stock exchanges;

– international fairs;

– trading in foreign exchange markets.

Basic organizational form in the wholesale trade of countries with developed market economies - independent firms engaged in actual trade. But with the penetration of industrial firms into wholesale trade, they created their own trading apparatus. These are the wholesale branches of industrial firms in the United States: wholesale offices engaged in providing information services to various clients, and wholesale depots.

Large German companies have their own supply departments, special bureaus or sales offices, and wholesale warehouses. Industrial companies create subsidiaries to sell their products to firms and may have their own wholesale network. Direct connections between production and retail trade are used, bypassing specialized wholesale companies.

A special place in wholesale trade is occupied by commodity exchanges. They are similar to trading houses where they sell anything, both wholesale and retail. Basically, commodity exchanges have their own specialization: coal, oil, timber, grain, etc.

Securities are traded on international money markets, that is, on the exchanges of such large financial centers as New York, London, Paris, Frankfurt am Main, Tokyo, and Zurich. Trading of securities is carried out during business hours at the exchange, or the so-called “exchange time”. Only brokers (brokers), who fulfill the orders of their clients and receive a certain percentage of turnover for this. For trading securities - stocks and bonds - there are so-called "brokerage firms" or brokerage offices.

Annual world trade turnover is almost $20 billion, and the daily turnover of foreign exchange exchanges is approximately $500 billion. This means that 90% of all foreign exchange transactions are not directly related to trading operations, but are carried out by international banks.

Under foreign exchange trading understand transactions of purchase and sale of one currency to another or to national currency at a rate pre-established by partners.

TRADE BALANCE

Historically international trade acts as the initial form of international economic relations, connecting national economies into the world economy. Thanks to foreign trade, an international division of labor develops, which deepens and improves with the development of foreign trade and other international economic transactions.

Foreign trade indicators traditionally occupy an important place in the balance of payments.

The ratio of the value of exports and imports of goods forms the trade balance. Since a significant part of foreign trade is carried out on credit, there are differences between the figures for trade, payments and receipts actually made during the relevant period.

The economic significance of an asset or trade deficit in relation to a particular country depends on its position in the world economy, the nature of its relations with partners and general economic policy. For countries that lag behind the leaders in terms of economic development, a trade surplus is necessary as a source of foreign currency to pay international obligations under other balance of payments items.

For a number of industrialized countries, trade surpluses are used to create a second economy abroad. A passive trade balance is considered undesirable and is usually assessed as a sign of weakness in the country's foreign economic position. This is right for developing countries facing a shortage of foreign exchange earnings. This may have a different meaning for the industrial development of countries.

Of course, if exports decline due to falling demand for a given country's goods in other countries, this is a bad sign. But if a negative balance arises, for example, in the case of an increase in imports of investment goods and growth as a result of domestic production, then in this case the negative balance cannot serve as a basis for negative assessments of the state of the economy.

In other words, asset or trade deficit can be assessed only on the basis of an analysis of the circumstances leading to them. Thus, Russia's positive trade balance cannot serve as a basis for an optimistic assessment of the situation.

The majority of Russia's exports are Natural resources. Consequently, raw materials are being exported from the country, not goods. This means that production in the country is at a low level and the country’s economy is not in its best condition.

If the trade balance worsens (the negative balance increases), then this is an indicator that the country spends more money abroad than it receives, i.e. on the foreign exchange market, on the part of trading participants, the supply of national currency increases and the demand for foreign currency increases, which creates conditions for the formation of trends towards depreciation of the national currency.

On the contrary, with a positive trade balance, there is a tendency for the national currency to appreciate.

However, it is obvious that depreciation of the national currency (devaluation) stimulates exporters and makes imports less profitable. As a result, such a change in the exchange rate creates a tendency to increase exports and reduce imports, i.e., to reduce the negative and create a positive trade balance.

Related information.