![]() ![]() United States Japan Hong Kong China Germany Holland Singapore South Korea Top Trading Partners of the Philippines ![]() Some terms… TRADE DEFICIT – occurs when a value of a nation’s export is less than the value of its imports Exports TRADE SURPLUS – occurs when a value of nation’s export is greater than the value of its imports Exports > Imports + JOBS + CONSUMPTION + THE FIGHT AGAINST POVERTY + ENVIRONMENTAL ISSUES + NATURAL RESOURCES + FASHIONĮXPORTS – goods or merchandise that are sold to other countries in order to earn dollars IMPORTS – goods or merchandise bought from foreign countries Some terms… 7% of GDP (2009) Current account balance by percentage of GDP 4.1% of GDP (2010) STATISTICS Exports as Percent of GDP: 31. THE EXCHANGE OF GOODS & SERVICES BETWEEN COUNTRIES. SUBTOPICS IMPORTANCE *DOMESTIC TRADE DEFINITION BASES PROBLEMS PROGRAMS / SOLUTIONS INTERNATIONAL TRADE By Group 6 – LS 403 (SY 2010-2011) ![]()
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