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International trade terminology_main features_types_settlement mode

Nouns Explaining International Trade

The abbreviation of international trade (International Trade), refers to the exchange of goods and services between different countries (and / or regions). International trade is the international transfer of goods and services. International trade is also called world trade. International trade consists of import trade and export trade two parts, so sometimes also known as import and export trade.

The main features of international trade

International trade in goods is the scope of commodity exchange, and domestic trade is not different in nature, but because it is carried out in different countries or regions, so compared with the domestic trade has the following characteristics:

1, the international trade in goods involves different countries or regions in the policy measures, the legal system may exist. Policy measures, legal system differences and conflicts that may exist, as well as language and culture, social customs and other aspects of the differences brought about by the issues involved are far more complex than domestic trade.

2, international trade in goods, the number and amount of transactions are generally larger, the transportation distance is farther, the fulfillment time is longer, so the risk borne by both parties to the transaction is far greater than the domestic trade.

3, international trade in goods is susceptible to political and economic changes in the countries of the two parties to the transaction, bilateral relations and changes in the international situation and other conditions.

4, international trade in goods in addition to the two sides of the transaction, but also involves transportation, insurance, banking, commodity inspection, customs and other departments of the collaboration, cooperation, the process is more complex than domestic trade.

Types of international trade

First, according to the direction of the movement of goods, international trade can be divided into

1, import trade (Import Trade): the import of foreign goods or services into the domestic market for sale.

2, export trade (Export Trade): the export of goods or services to foreign markets.

3, transit trade (Transit Trade): country A's goods through the territory of country C to the market in country B for sale, to country C

that is transit trade. Due to the role of transit trade on the obstruction of international trade, the WTO member states are not engaged in transit trade between each other.

Second, according to the form of goods international trade can be divided into

1, tangible trade (Visible Trade): the import and export of goods in physical form. For example, machinery, equipment, furniture, etc. are goods in physical form, the import and export of these goods is called tangible trade.

2, intangible trade (Invisible Trade): no physical form of technology and services import and export. The transfer of patent rights, tourism, financial and insurance enterprises to provide services across borders are no physical form of goods, the import and export is called invisible trade.

Third, according to the producer and consumer countries in the trade relationship between international trade can be divided into

1, direct trade (Direct Trade): refers to the commodity-producing countries and commodity-consuming countries do not buy and sell goods through a third country behavior. The exporting side of trade is called direct export, the importing side is called direct import.

2, indirect trade (Indirect Trade) and re-export trade (Transit Trade): refers to the commodity-producing countries and commodity-consuming countries through a third country to buy and sell commodities, indirect trade in the producer countries known as indirect exporters, consumer countries known as indirect importers, and the third country is the country of the transit trade, the third country is engaged in the re-export trade.

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