Trade and Development - PDF

Research Report

TABLE OF CONTENTS
EXECUTIVE SUMMARY.............................................................................................................3
INTRODUCTION...........................................................................................................................4
Main Body.......................................................................................................................................4
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

EXECUTIVE SUMMARY
Trade and development in developed and developing nations gives the basic economic
concept of buying and selling of products and shows how much world has changed. Trade can be
described as dealing with services, capital, goods across international borders or territories. In
this research report there is description on trade relations of Australia with India, Germany, UK,
US, China, Germany, Indonesia and Korea. Australia has progressive trade relations with India
and there is chance of development. With Korea some commitment and agreements have been
made. It has also exported and imported high quality of goods to and from Japan. They both have
established a Australia-Japan Foundation. UK has provided Australia wide platform for export
business. Many facts and figures have illustrated regarding imports and exports of these
countries with Australia. Other than this, there are various factors like inflation rate, government
policies, providing subsidies to domestic firms, impact of national income, restrictions on
imprted items that affect trade relations with other countries. US has implemented lower tariff as
compared to other nations which has protected its imported products in foreign market. It is the
largest exporter of all types of commodities in the world. Australia shares good relation with it
and export many items like gold, copper core and other minerals. They maintain unique bilateral
relationship. Australia biggest trading partner with India, China, UK Korea and Japan. It has
official relations with numerous nations. Thus, this report describes relation of it with other
countries with actual figures regarding export and import of products. It also provides factors
that hinder trade relations among them.

INTRODUCTION
Trade and development in developed and developing countries indicates that how much
world has changed. Trade can be considered as exchange of services, capital, goods across
international borders or territories. This gives opportunity to every company o get exposed to
new products and markets. In various countries this trade is represented in the form of gross
domestic product (GDP). Trade in UK, Germany, Korea, UK, US, China and India has risen in
the form of global exports and these countries have expanded their share of services all over the
world. India's multinational companies has highly contributed to UK's economy and business.
Similarly, relations between Indonesia and UK are strong since formal relations were established
in 1949. China-India trade relation shows political implications and strong potential in terms of
foreign trade, investments, joint ventures and foreign direct investments (Du and et.al., 2017). It
is the largest exporter for all countries. US is the largest source of FDI. In Indonesia, there are
good reasons to expect rise in demand for products in the market. Exports have helped to grow
economies of various developing countries
In UK economy is hold by Brexit including retail sales, inflation, labour market and
government finances. Britain and China are planning to uphold global free trade. On the other
hand, German companies are the third largest foreign employer in EU in which half are
employed in manufacturing. After China and Japan, it is the sixth largest market for US exports
followed by non-auto capital goods at $21 billion (Kelly, 2015). Australia has become China's
largest trading partner with its increasing relative importance. Its structural change and growth
have been major components under which Australia relates itself to global market for products,
services and capital. Thus, in this research report all facts and figures related to trade in these
countries are described. Moreover, some countries have also seen trade deficit and there are
some major factors which affects this international trade.
Main Body
Facts and Figures
US generates more than 205 of the world's total income and is leading global leader with
largest national economy. Investment is always encouraged with the ability to serve a global
market which helps in expansion of export sectors and rising scale of output (Kingshott and
et.al., 2018). US has seen trade deficit with Germany in 2016 which fell to $67.8 billion due to