International trade is the exchange of goods, services, and capital between countries or regions. It encompasses all import and export activities.

Here are a few key aspects of international trade:

• Import: Purchasing goods and services from another country.
• Export: Selling goods and services to another country.
• Types: Includes trade in goods (tangible products), services (tourism, financial services), and intellectual property (patents, trademarks).
• Benefits: Allows countries to access goods and services not available domestically, fosters specialization and efficiency, promotes economic growth, and increases competition.
• Regulation: Governed by international agreements, trade policies, and organizations like the World Trade Organization (WTO).

For additional information, you can refer to the following resources:

• Investopedia: International Trade Definition
• WTO: What is the WTO?