(a) Name: (i) two major export items from your country
(ii) two major import items to your country
(iii) two major trading partners of your country.
(b) Highlight four benefits your country derives from trading with other countries
(c) Identify three problems encountered by your country in international trade.
(a) (i) Name major export items from your country The main export items include:
(a) Petroleum
(b) Cocoa
(c) Rubber
(d) Tin
(e) Columbite
(f) Soya beans
(g) hides and skin
(h) Natural gas
(i) Beverages
(j) Texti
(ii) Name major Import items to your country The items include: motor vehicle, machinery, electronics, tractors, computer, textile, pasteries, drinks, food (rice) et
(iii) Name major trading partners of your Country: The trading partners include: Japan, Britain, China, USA, Canada, Germany, Italy, South Korea, Spain, Taiwan, Belgium.
(b) Benefits of trading with other countries
(a) Fosters international cooperation
(b) Provision of foreign exchange
(c) Provision of employment
(d) Generation revenue to government
(e) Generation of income to individual
(f) Encourage specialisation in production
(g) Bring about diffusion of ideas / innovation
(h) Provision of new products
(i) Improves standard of living
(j) Stimulates production of export goods
(k) Stabilizes world prices
(I) Leads to growth of industries
(c) Problems of International Trade
(1) Political instability
(2) Low level of currency
(3) Inadequate capital
(4) Inadequate foreign exchange
(5) inadequate production of goods
(6) High cost of transportation
(7) Port congestion
(8) Low demand for products
(9) High tariffs goods
(10) Strained international relations
(11) Smuggling / economic sabotage Question
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