What is the foreign trade?

Foreign trade can be defined as the exchange of goods, as well as various services between two or more countries through the international market. This specially helps those countries which don't have that particular type of product or service available in their country or is in bare minimum quantity. India also imports various goods from various parts of the world. For example, India imports from China, United States of America, Saudi Arabia, United Arab Emirates, Iraq and many other such nations. Even though India imports various resources, some of the most prominent resources are, petroleum, precious stones, minerals, etc.

Hope this answers your question.

Also read - What is the trade credit?

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Trade with the other countries is calledforeign trade

Foreign trade is the exchange of goods and services between two countries in the international market.It helps in the availability of raw material/finished product that either does not have it or has it in scarcity.

There are three type of foreign trade

Import trade -when the goods and services are purchased from other countries.

Export trade -when goods and services sold to other countries.

entrepot trade -it is also called re-exporting.