THE BALANCE OF TRADE

‘Bilateral Trade’ term represents the meaning ‘when two nations agree to maintain direct business relationship of import and export’. ‘Multilateral Trade’ means ‘when different counties agree to deal globally’. At the level of international trade, the values in terms of money are never same and the differences outstanding at any Read more…

TERMS OF TRADE

It is an important measure of the distribution of gains to individual countries from international trade. The balance of payments is the result of exchanges of value and depends on prices. A given quantity of the same goods imported or exported may move at different prices from week to week Read more…

TARIFF BARRIERS

In international trade tariff refer to the duties or taxes imposed by a government on internationally traded commodities when they cross its national borders. They include duties, columned-tariffs, Countervailing and Anti-Dumping Duties. They are explained briefly in the following: 1. Import Duties: Import duty is a tax imposed on a Read more…

NON-TARIFF BARRIERS

These barriers have grown considerably since the beginning of 1980s and include Quotas, Boycotts, Monetary Barriers, Voluntary Export Restraints, Standards and Dumping. 1. Quotas Quotas are the most important non-tariff trade barriers. They are direct quantitative restrictions on the amount and specified units of commodities allowed to be imported or Read more…

BRUSSELS TARIFF NOMENCLATURE

After coming into being on January 01, 1958, the European Economic Community (EEC) adopted a common external tariff which was set at the average of 1957 tariff of six member-nations, viz. West Germany, Luxembourg, Italy, France, Belgium and the Netherlands. This helped in developing free trade in industrial goods and Read more…

EASY TRADE RESTRICTIONS

The evolution of global markets has focused attention on ways to eliminate barriers to international trade and some of the recent developments include Economic Integration, Preferential Trade Agreements,  Free Trade Area, Customs Union, Common Market, Economic Union, Most Favored Nation Principle. Economic Integration It is a process which aims at Read more…