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The Importance of International Trade to the Economies of ...

Open AccessISSN: 2162-6359 International Journal ofEconomics and Management ScienceResearch ArticleVolume 9:5, 2020 DOI: Importance of International Trade to the Economies of Developing CountriesAbstractThe economic significance and benefits of foreign Trade also known as International Trade to the Economies of developing countries cannot be over emphasized. Its role and contributions to the gross domestic earnings, employment generation, economic development, and poverty reduction in these underdeveloped countries such as Nigeria, Ghana, Benin Republic, and others have been too glaring especially in agrarian Economies with fertile arable main aim of this paper is to examine in-depth the contributions and relationship between International Trade and economic development of developing African further recommends that stringent macroeconomic policies should be formulated that would encourage and increase the multiplier effect of these foreign trades.

International trade refers to economic activities that could involve trading between countries. The items generally traded are often goods and services. These goods can further be classified into consumer and capital goods. The services that are traded …

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