What+are+the+benefits+of+international+Trade

Benefits of International Trade:


 * Obtaining goods you cannot produce domestically (tropical fruit in UK or wine in Indonesia)
 * Obtaining goods that can be produced cheaper abroad
 * Allowing you to specialise and sell abroad
 * You can benefit from bigger markets and economies of scale
 * Greater consumer choice
 * Increased competition leads to increased efficiency and lower prices
 * International trade can lead to economic growth and an improvement in the standard of living

Disadvantages of International Trade


 * Overspecialisation
 * Unemployment and lower growth
 * environmental impact