The Impact Of International Trade On The Economic Development Of Nigeria

CHAPTER ONE INTRODUCTION 1.1      BACKGROUND OF THE STUDY International trade is the exchange of capital, goods, and services across international borders or territories. In most countries, such trade represents a significant share ofgross domestic product (GDP). Industrialization, advancedtransportation, multinational corporations, offshoring andoutsourcing all have a major impact on world trade. The growth of international trade is a fundamental component of globalization. An absolute trade advantage exists when countries can produce a commodity with less costs per unit produced than could i…