International trade is also a branch of economics. Traditionally, international trade is justified in economics by comparative advantage theory. New developments include in patterns of international trade: the integration of countries into trade blocs (e.g., European Union, NAFTA, EFTA, CEFTA) and globalisation.

Table of contents

1 Trade related concepts 2 Risks in international trade 2..1 Commercial risks 2..2 Political risks 3 See also

Trade related concepts

• Comparative advantage
• Balance of trade
• Most favoured nation clause
• Tariff
• Free trade area
• Customs union

Commercial risks

• Risk of cancellation or non-renewal of export or import licences
• War risks
• Risk of expropriation or confiscation of the importer's company
• Risk of the imposition of an import ban after the shipment of the goods
• Transfer risk - imposition of exchange controls by the importer's country or foreign currency shortages