International trade is primarily the exchange of goods and services (imports and exports) between countries – or across international borders. Since trading spans different regions, trading of this nature is affected by the world economy, as we’ve all seen when it comes to oil prices due to the conflicts in the Middle East. A product sold on the global market is considered an export, while products purchased are considered imports.
Since different countries have different resources, some are able to produce products or services more efficiently, and thus at a lower cost. These lower costs then afford them the benefit of selling it at a cheaper rate to other countries. If one country does not have a specific item, it can trade with other countries that have this item in exchange for something of value they do have available. Without international trade, countries would be bound to only those goods or services produced within their borders. As a result of international trading, in many instances there is greater competition which allows the consumers to find lower priced products available.
In order for businesses to be successful in international trade they must be aware of what resources various countries have available. To that extent information on investment analysis, economic forecasts, political status, and demographics is important to staying ahead. Our WTC can help you obtain the information your company needs to understand the Haitian market and succeed in the international trade arena.