Broad Pattern of International Trade Assignment Help

Trade pattern can be measured through the evaluation of international trade and world output. The insight on trade

pattern and potential growth in future also helps to viewed trade patterns. The trade pattern can also be defined as the trading between high income and low income nations. About 60% of the world trade is accounted by the Western Europe. On the other hand about 34% trades in international trade are held by the mid level income countries, while remaining are made by low income countries. The classification of the international trade pattern on the national income level shows that wealthy nations account for a larger portion of world merchandise trade in comparison of the poor countries. These numbers helps to determine the broad pattern of international trade or to determine who trades with whom. It also helps to determine that there is existence of the significant trade between the richest and poorer countries of the world. It also shows the poorer nations are also involved in the trade activities, which is essential for their growth (Ricks, 2006). At the same time it exhibits the comparative advantage of poorer and richest country in producing particular goods or services. This pattern is described by the customs agencies in the nations. The record of export, import and the destination are kept by these agencies, which are helpful to determine the broad pattern of international trade. In the international trade, generally richest countries decide a level of trade with other countries in order to maintain balance of payment or to achieve powerful position in the world. Sometime trade between two countries is also altered by the government for the goods and services, which have significant for the defense of the economy. But regardless all of these, the trade pattern is the best way to analyze trade between two countries or which country is trading with whom.