International Trade
A great deal of companies and businesses operating in the UK will make the majority of their profits through international trade. Many of the goods manufactured in the UK are in high demand overseas, so many of the firms that produce them will find that they are able to achieve much higher profits by selling their goods overseas. International trade is also responsible for a great deal of the goods being brought into the country too. There is a surprisingly low level of manufacturing actually occurring in the UK, the same can also be said for food production as an enormous quantity of the food consumed in the UK is brought into the country through international trade.
Many countries are involved in international trade networks, where they will trade goods amongst each of the members for their mutual benefit. International trade has a number of political as well as financial implications and it is frequently used and exploited by governments who are pursuing a political agenda. For example, sanctions banning international trade with a certain nation may be imposed as a penalty upon nations that are not cooperating with others in some way.
International trade has been happening for many years; however it is largely dependent upon transportation to work effectively. As a result, it was not until significant developments had been made in ocean going ships before international trade was truly possibly.