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FOREIGN TRADE — Economics STD 12 Commerce — Question

Gujarat BoardEnglish MediumSTD 12 CommerceEconomicsFOREIGN TRADE3 Marks
Question
State the present condition of world trade.
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Answer

The present world trade is characterized by:
1. Increasing share of developing nations like China and India.
2. Growth in trade of services (software, BPO) alongside goods.
3. Formation of trade blocs (EU, ASEAN).
4. Role of WTO in promoting free trade and reducing tariffs. Global trade volume has increased significantly but faces challenges from protectionist policies.

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