The Importance of International Trade
International trade significantly boosts a country’s economy by increasing productivity, optimizing resource use, and fostering global competitiveness. It enables access to specialized goods, advanced technologies, and international markets, improving both exports and imports. While trade promotes economic growth and innovation, challenges such as monopolies and market imbalances must be managed. Overall, active participation in global trade is essential for sustainable development and economic advancement in the modern world.
References
Muir, E. V., & Borovkov, K. (2017). Approximating the equilibrium quantity traded and welfare in large markets. Stochastic Models, 33(3), 411-429.
Okyere, I., & Jilu, L. (2020). The Impact of export and import to economic growth of Ghana. European Journal of Business and Management, 12(21), 130-138.
Yang, B. Z., He, X. J., & Huang, N. J. (2021). Equilibrium price and optimal insider trading strategy under stochastic liquidity with long memory. Applied Mathematics & Optimization, 84(2), 1209-1237.
Reference
StudyCorgi. (2025, July 7). The Importance of International Trade. https://studycorgi.video/the-importance-of-international-trade/