IMPORTANCE OF INTERNATIONAL TRADE IN ECONOMIC GROWTH

COURSE NAME - DEVELOPMENT THEORIES AND APPROACHES

SUBMITTED BY:SHARIAR SAYEED
ROLL: 18121017
SUBMITTED TO LECTURER MOHAMMAD SAEED ISLAM
DEPT. OF DEVELOPMENT STUDIES
BANGLADESH UNIVERSITY OF PROFESSIONALS
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 INTERNATIONAL TRADE

• International trade plays a significant role in economic growth of

a country .The term international trade is used to indicate the
buying and selling of goods and services between countries the
needs of its population.

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WHY DO COUNTRIES TRADE?

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 THE NEED OF INTERNATIONAL TRADE?

• International trade is needed so that all countries can avail

themselves of the things that they need that are not available in
their own country.

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 THE IMPORTANCE OF INTERNATIONAL TRADE:

• International trade between different countries is an important factor in

raising living standards, providing employment and enabling consumers
to enjoy a greater variety of goods.

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 IS INTERNATIONAL TRADE GOOD OR BAD?

• PROS OF INTERNATIONAL TRADE

• It provides the power of choice to the customer and increases

market competition leading to better quality and lesser prices for
the consumers.
• It creates more jobs locally if you are exporting goods or
services.
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 CONS
• People in some countries lose jobs because jobs move to locations
where the workforce and cost of living are low. A typical example
is IT and ITES (call centres) outsourcing.
• Dumping of cheap and obsolete products (like old non-conforming
car models) has a detrimental impact on the environment of poor
recipient countries

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 ROLE OF INTERNATIONAL TRADE IN ECONOMIC DEVELOPMENT

• Foreign trade and economic development

• Foreign trade earning
• Market expansion
• Increase in investment

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 CONCLUSION
• International trade is essential as a country can’t be always up to
date in every sector of production of goods and services
efficiently and effectively that is why international trade occurs
between two countries to overcome this handicap. Bangladesh is
also like another countries associated with international trade i.e.
export and import.

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