When trade takes place between two or more states factors like currency, government policies, economy, judicial system, laws, and markets influence trade. While international trade has existed throughout history (for example Uttarapatha, Silk Road, Amber Road, scramble for Africa, Atlantic slave trade, salt roads), its economic, social, and political importance has been on the rise in recent centuries.Ĭarrying out trade at an international level is a complex process when compared to domestic trade. In most countries, such trade represents a significant share of gross domestic product (GDP). International trade is the exchange of capital, goods, and services across international borders or territories because there is a need or want of goods or services.
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