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Form 4 Geography online lessons on trade
Meaning of regional and international trade,types of international trade (5m 34s)
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(B). Regional Trade.
- Trade between countries found in the same geographical region.
(C). International Trade.
- Also known as external or foreign trade.
- Exchange of goods and services at the global level.
- It is classified into:
1. Export Trade - Selling of goods and services to foreign countries. Examples of major exports from Kenya are coffee, tea, cut flowers, tourism, fluorspar, miraa, vegetables, etc.
2. Import Trade - Buying of goods and services from other countries. Examples of imports to Kenya are crude oil, vehicles, electronics,
sugar, skilled labour, fertilisers, rice, vehicle parts etc.
3. Bilateral Trade - Exchange of goods and services between two countries.
4. Multilateral Trade - Exchange of goods and services between many countries.
5. Visible Trade - Trading in tangible goods.
6. Invisible Trade - Trading in services.