Types of global trade - Live And Love Out Loud

Types of global trade

If you’re interested in learning about the ins and outs of international trade from Umberto de Pretto, it’s well worth continuing reading to discover a few types of global trade, which dominate the world of international trade.

Types of global trade:

  1. Diamonds and gemstones

Australia, South Africa, and Tanzania are examples of a few of the countries which are known for producing the world’s supply of diamonds and rare gems. Which end up being exported to every corner of the globe. No matter whether you visit a high-end jewelry store in Paris, New York or Tokyo, you’ll be sure to find diamonds and gemstones which have been sourced in Australia and Africa.

  1. Clothing, shoes, and accessories

Most of the world’s supply of clothing, shoes, and accessories are produced in Asia. As Asia boasts the largest amount of factories in the world and is able to mass produce items of all types at a far lower cost, than most countries. Some of the reasons why Asian countries can manufacture goods such as clothing and shoes for a few dollars per item is that generally the more items a factory produces, the cheaper each item will be to produce.

If you take a look at the label on each of your clothing items, you should find that the vast majority of your clothing items were made in an Asian country such as China, Taiwan or the Philipines.

  1. Cars and motorbikes

The vast majority of vehicles are manufactured in Europe and Asia. As an example, individuals throughout the world who are looking to purchase an inexpensive vehicle often purchase Japanese branded cars such as Toyotas, Subarus and Mazdas.

While individuals around the world who are interested in purchasing luxury vehicles often purchase cars which were manufactured in Germany or Italy. Examples of which include Ferraris, Lamborghinis, Mercedes-Benz, and Audis.

  1. Oil

Most of the world’s oil reserves come from Middle Eastern countries such as Saudi Arabia, Iran, Iraq, and Kuwait. In fact, you may be shocked to learn that one-fifth of the world’s oil reserves are located in Saudi Arabia. Which is one reason why Saudi Arabia is such a prosperous nation. However, you may be surprised to find that Canada is also home to a large percentage of the world’s untapped oil reserves. Which could lead to Canada’s economy skyrocketing in the future. Should Canada choose to export their oil to every continent on Earth.

  1. Meat and dairy products

Although New Zealand is a relatively small country which is located at the bottom of the world, New Zealand is known for exporting large volumes of milk and meat to countries as far-flung as France and the United Kingdom.

  1. Top quality wine

The top producing wine nations in the world which include the USA, France and Spain, export their top quality wines to every country in the world. As all 3 countries have highly rated wines which demand high international prices.

In conclusion, apart from food products most of the products which you consume on a daily product, were probably manufactured overseas.