Italy, Spain and France

Italy, Spain and France

Introduction

International trade has increased in the past few years, which means that countries are exchanging goods and services at an increased rate. This benefits both the countries i.e. the importer, as well as, the exporter. This helps them in managing their products, services and the funds generated by this activity are useful for the country because it earns foreign currency. According to Obsfeld and Krugman (2009) international trade can be explained as “International trade allows countries to specialize in producing narrower ranges of goods, giving them greater efficiencies of large-scale production.” This definition highlights ...