Foreign Trade meaning
- Definition of “foreign trade” - English Dictionary. “foreign trade” in Business English. › the activity of trading goods and services with other countries: He said putting up barriers to foreign trade and guarding jobs might work in the short run but not indefinitely.
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The Meaning and Definition of Foreign Trade or International Trade! Foreign trade is exchange of capital, goods, and services across international borders or territories. In most countries, it represents a significant share of gross domestic product (GDP). While international trade has been present throughout much of history, its economic ...
Foreign Trade: Definition, Types of Foreign Trade Foreign trade is the exchange of capital, goods, and services across international borders or territories. In most countries, it represents a significant share of gross domestic product (GDP).
foreign trade meaning: the activity of trading goods and services with other countries: . Learn more.
- Division of labour and specialisation. Foreign trade leads to division of labour and specialisation at the world level. Some countries have abundant natural resources.
- Optimum allocation and utilisation of resources. Due to specialisation, unproductive lines can be eliminated and wastage of resources avoided. In other words, resources are channelised for the production of only those goods which would give highest returns.
- Equality of prices. Prices can be stabilised by foreign trade. It helps to keep the demand and supply position stable, which in turn stabilises the prices, making allowances for transport and other marketing expenses.
- Availability of multiple choices. Foreign trade helps in providing a better choice to the consumers. It helps in making available new varieties to consumers all over the world.
2 days ago · Foreign trade definition: Trade is the activity of buying , selling, or exchanging goods or services between... | Meaning, pronunciation, translations and examples
foreign trade definition: the activity of trading goods and services with other countries: . Learn more.
AdjustmentsThe Foreign Trade Division applies adjustments for seasonal and working-day variations, and for price changes.Goods are initially classified under the Harmonized System (HS) which descri...Advanced Technology Products (ATP) About 500 of some 22,000 commodity classification codes used in reporting U.S. merchandise trade are identified as "advanced technology" codes and they meet the f...AES Applicant The USPPI or authorized agent who applies to the Census Bureau for authorization to report export information electronically to the AES, or through AESDirector its related applications.AESDirect A free Internet application supported by the U.S. Census Bureau that allows USPPIs, their authorized agent, or the authorized agent of the FPPI to transmit EEI through the AES via the Int...Balance The difference between exports and imports. A positive balance is called a surplus. A negative balance is called a deficit.Balance of Payments (BOP) Goods on a Census basis are adjusted by the Bureau of Economic Analysisto goods on a BOP basis to bring the data in line with the concepts and definitions used to prepare...Bill of Lading (BL) A document that establishes the terms of a contract between a shipper and a transportation company under which freight is to be moved between specified points for a specified ch...BondAn instrument used by CBPas security to ensure the payment of duties, taxes and fees and/or compliance with certain requirements such as the submission of manifest information.CAFTA-DR (Dominican Republic-Central America-United States Free Trade Agreement) For a list of member countries, see Country GroupingsCalculated Duty Estimates of calculated duty do not necessarily reflect amounts of duty paid and should, therefore, be used with caution. The inclusion in the figures of some U.S. products returned...Canadian EstimateEffective with January 2001 statistics, the current month data for exports to Canada contain an estimate for late arrivals and corrections. The following month, this estimate is re...Deficit When import value is greater than export value.DestinationThe foreign location to which a shipment is consigned.Diplomatic Pouch Any properly identified and sealed pouch, package, envelope, bag, or other container that is used to transport official correspondence, documents, and articles intended for officia...Disclosure Limitation Disclosure limitation is the process for protecting the confidentiality of data. A disclosure of data occurs when published statistical information identifies either an indivi...Electronic Export Information (EEI)The electronic export data as filed in the AES. This is the electronic equivalent of the export data formerly collected as Shipper's Export Declaration (SED) info...Electronic CBP Form 214 Admissions (e214)An automated CBP mechanism that allows importers, brokers, and zone operators to report FTZ admission information electronically via the CBP’s Automated Bro...Employer Identification Number (EIN)The USPPI's Internal Revenue Service (IRS) EIN is the 9-digit numerical code as reported on the Employer's Quarterly Federal Tax Return, Treasury Form 941.End-Use A classification system for U.S. exported and imported merchandise based on principal use rather than the physical characteristics of the merchandise. End-Use codes are assigned by the Bure...484(f) Committee Inter-agency committee that reviews requests for changes to the statistical reporting requirements of the Harmonized Tariff Schedule of the United States Annotated (HTSA) for impor...Fatal Error Message An electronic response sent to the filer by the AES when invalid or missing data has been encountered, the EEIhas been rejected, and the information is not on file in the AES. T...FilersThose USPPIs or authorized agents (of either the USPPI or the FPPI) who have been approved to file EEI directly in the AES or AESDirectInternet application.Filer IDThe Employer Identification Number or Dun & Bradstreet Number of the company or individual filing the export information in the Automated Export System.General Imports Measures the total physical arrivals of merchandise from foreign countries, whether such merchandise enters consumption channels immediately or is entered into bonded warehouses or...Generalized System of Preferences (GSP) A framework under which certain developing countries are given preferential tariff treatment to their manufactured goods.Geographic Discrepancies The following types of shipments are included for statistical purposes in special CBPport groupings and are not reported by their geographical location: Vessels under their...Goods Merchandise, supplies, raw materials, and products or any other item identified by a Harmonized System (HS)code.Harmonized System (HS) The Harmonized System (HS) is an international classification system administered by the World Customs Organization. The 2-, 4-, and 6-digit HS headings and subheadings are t...Harmonized Tariff Schedule of the United States Annotated (HTSA) The import statistics are initially collected and compiled in terms of approximately 18,000 10-digit commodity codes in the HTSA. Th...Household GoodsUsual and reasonable kinds and quantities of personal property necessary and appropriate for use by the USPPI in the USPPI’s dwelling in a foreign country that are shipped under a bi...Imports All goods physically brought into the United States, including: (1) Goods of foreign origin, and (2) Goods of domestic origin returned to the United States without substantial transformatio...Import Adjustments See AdjustmentsImport ChargesThe import charges represent the aggregate cost of all freight, insurance, and other charges (excluding U.S. import duties) incurred in bringing the merchandise from alongside the car...Imports (General)Measures the total physical arrivals of merchandise from foreign countries, whether such merchandise enters consumption channels immediately or is entered into bonded warehouses or...L (Liter) See Conversion Tables and Units of QuantityLatin American Free Trade Market (LAFTA) For a list of member countries, see Country GroupingsLicense Applicant The person who applies for an export or re-export license. (For example, obtaining a license for commodities, software, or technology that are listed on the CCL.)License Exception An authorization that allows a USPPI or other appropriate party to export or re-export under stated conditions, items subject to the EAR that would otherwise require a license und...
International trade, economic transactions that are made between countries. Among the items commonly traded are consumer goods, such as television sets and clothing; capital goods, such as machinery; and raw materials and food. Learn more about international trade in this article.
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.. In most countries, such trade represents a significant share of gross domestic product (GDP).
Advantages of International Trade . Exports create jobs and boost economic growth, as well as give domestic companies more experience in producing for foreign markets. Over time, companies gain a competitive advantage in global trade. Research shows that exporters are more productive than companies that focus on domestic trade.