International Trade Vocabulary

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1. Goods or services brought into a country from abroad for sale.
7. Government authorities that regulate and monitor the import and export of goods across borders.
9. A tax or duty imposed on imports or exports.
10. A limit on the amount of a specific product that can be imported or exported.
13. The practice of hiring external firms or contractors to perform tasks or services that could be done domestically.
16. The economic policy of restricting imports to protect domestic industries.
17. A government payment to help reduce the cost of goods or services, often to support domestic industries.
18. The practice of selling goods in a foreign market at a price below their production cost to gain market share.
20. Goods or services sent from one country to another for sale.
22. The value of one currency for the purpose of conversion to another.
24. International trade without tariffs or other barriers.
25. The exchange of goods or services for other goods or services without using money.
27. Investment Investment made by a company or individual in one country into business interests located in another country.
28. A pact between two or more nations that outlines the rules and regulations for trade.
29. A group of countries that work together to promote trade by reducing or eliminating tariffs and other trade barriers between them.
30. The ability of a country or entity to produce a good or service at a lower opportunity cost than another.

2. When a country's exports exceed its imports, leading to a positive balance of trade.
3. Any regulation or policy that restricts international trade, such as tariffs, quotas, and subsidies.
4. A status given to a country that guarantees it will be treated equally in trade negotiations with another country.
5. An international organization that regulates international trade agreements between member nations.
6. The practice of relocating business operations to another country, often to reduce costs.
8. The decrease in the value of a country's currency relative to others.
11. The process by which businesses or other organizations develop international influence or start operating on an international scale.
12. An agreement between countries within a particular region to reduce trade barriers among them.
14. A limit placed on the quantity of a product that can be imported during a given time frame.
15. The difference between the value of a country's exports and imports.
19. When a country's imports exceed its exports, leading to a negative balance of trade.
21. A company that operates in multiple countries, often with subsidiaries or branches.
23. A record of all economic transactions between the residents of a country and the rest of the world, including trade, investment, and loans.
26. An agreement between Canada, Mexico, and the U.S. designed to reduce trade barriers between these countries.