INTERNATIONAL TRADE International trade is exchange of goods and services between two or more countries. FORMS OF INTERNATIONAL TRADE 1. Bilateral Trade: exchange involving two countries. 2. Multi-lateral Trade: exchange involving more than two countries DIVISIONS OF INTERNATIONAL TRADE 1. EXPORT These are goods and services sold by a country to other countries of the world. Ex. Nigeria exports crude oil to USA 2. IMPORT These are goods and services bought by a country from abroad. Ex. Nigeria buys electronics from China or automobiles from America . Visible imports and exports: These are tangible product bought from or sold to other countries. Examples: mobile phones, automobiles. Invisible imports and Exports: These are services rendered by or to other countries. Examples: banking, tourism, shipping etc. 3. ENTREPORT This is importing goods and services for re-exporting REASONS FOR ...