International economics

Table of Contents

1. Topic pack - International economics - introduction
2. Section 3.1 International trade (notes)
3. Section 3.1 International trade (questions)
4. Section 3.1 International trade - simulations and activities
5. Section 3.2 Exchange rates (notes)
6. Section 3.2 Exchange rates - questions
7. Section 3.2 Exchange rates - simulations and activities
8. Section 3.3 Balance of payments - notes
9. Section 3.3 Balance of payments - questions
10. Section 3.4 Economic integration - notes
    1. Economic integration - introduction
    2. Where does trade occur?
    3. Stages of economic integration
    4. Trade blocs
    5. The effects of trade blocs
    6. Obstacles to achieving integration
    7. Monetary union
    8. Advantages & disadvantages of single currencies
11. Section 3.4 Economic integration - questions
12. Section 3.5 Terms of trade - notes
13. Section 3.5 Terms of trade - questions
14. Print View

Where does trade occur?

Trade between developed and emerging economies makes up the bulk of world trade and has grown significantly in recent years. The emerging economies include the BRIC countries of Brazil, Russia, China and India. The table below shows the leading exporters in world merchandise trade (excluding trade within the EU) in 2010. The significance of trade among the leading developed and emerging economies should be clear, with over 65% of world trade taking place between the top ten exporters on the list (N.B. the figures include the EU as a single bloc).

Look carefully also at the growth rates in the data (the last column). Pick out a number of developed countries and developing countries and compare the growth rates of their exports. This should give a clear indication of increasing globalisation.