Trade and Economy

Trade refers to the exchange of goods and services between individuals, businesses, or countries. It plays a crucial role in the economy by enabling access to a wider variety of products, fostering competition, and stimulating innovation. Economies can be local, national, or global, with trade contributing to economic growth by creating jobs and generating income. The balance of trade—comparing exports (what a country sells) and imports (what it buys)—affects a country’s economic health. Good trade relationships can enhance cooperation and development, while trade disputes can lead to economic challenges.