Foreign trade, also known as international trade, is the exchange of goods, services, and capital between countries across international borders. It involves importing goods and services into a country and exporting them to other countries
. This trade allows countries to access products and services that may not be available domestically or that are more expensive to produce locally, thus expanding markets and increasing competition, which often leads to more competitive pricing and cheaper products for consumers
. Foreign trade is a key driver of economic growth and development, enabling countries to specialize in producing goods where they have a comparative advantage, and then trade to obtain other goods. This specialization and exchange increase overall production efficiency and consumption possibilities
. It also fosters globalization, industrialization, and international cooperation through organizations such as the World Trade Organization (WTO)
. In summary, foreign trade is the international exchange of goods, services, and capital that connects economies worldwide, promotes economic growth, and provides consumers with a wider variety of products at competitive prices
