Volume of world trade in goods. Reviews of foreign trade. Theories of international trade

The set of international trade development indicators can be divided into seven groups:

1. volumetric (absolute) indicators,

2. resulting,

3. structural,

4. intensity,

5. efficiency,

6. speakers

7. comparisons

1. Volumetric (absolute) indicators

Export– the value or physical volume of exported goods, works, services, results of intellectual property from the customs territory of the state abroad.

The fact of export is the moment of crossing the customs border.

The UN Statistical Commission understands export as the export of goods from the state:

1) produced, grown or mined in the country;

2) previously exported from abroad and processed in the customs territory or under customs control;

3) re-export – export of goods:

Previously exported, but not processed;

From the territory of free zones;

From assigned warehouses.

Import– value or physical volume of goods, works, services, results of intellectual property imported into the customs territory of the state.

The UN Statistical Commission understands import as the import of goods into a state:

1) of foreign origin from the country of origin or intermediary for the purpose of final consumption or processing for export or final consumption;

2) for processing under customs control;

3) from the territory of free zones and assigned warehouses;

4) re-import - export of goods previously exported but not processed.

Country of export– country of origin of the product: production (subsequent processing), shipment, sale.

Country of import– country of destination of the goods (consumption, delivery, purchase).

The volumes of export and import goods do not include:

1) supplies that are carried out on a free basis (humanitarian aid, gifts);

2) goods that are supplied as contributions to the technical assistance fund of the UN and other international organizations;

3) the cost of transit goods;

4) personal luggage of individuals and private parcels.

Foreign trade turnover– the sum of the value of exports and imports of countries or a group of countries for a certain period.

WTO = E + I (6.1)

Where E is the volume of exports (in value units);

I is the volume of imports (in value units).

World trade turnover– the sum of the value of imports and exports of all countries in the world.

General (general) trade– foreign trade turnover taking into account the cost of transit goods.

GT = E + I + T(6.2)

where T is the cost of transit goods transported through the territory of the country.

Physical volume of foreign trade– assessment of exports or imports of goods at constant prices of one period (1 year) to obtain information regarding the movement of the commodity mass without the influence of price changes.

Physical volume index:

where I f.o. – physical volume index;

P 0 – price of goods in the base period;

q 1 – quantity of goods in the period being studied;

q 0 – quantity of goods in the base period.

2. Resulting indicators:

Trade balance

S t = E t – I t (6.4)

where C t – trade balance;

E t – value of commodity exports;

And t is the cost of commodity imports.

If E > I – active balance, if E< И - пассивный баланс, Э = И – чистый баланс, нетто-баланс.

Export Import Coverage Index

I e/i = (6.5)

I e/i< 100 - торговый баланс пассивный, I э/и >100 - active trade balance.

Terms of trade index- the ratio of export and import prices of a certain product, a country as a whole, or a group of countries.

1. The export price index is calculated:

where P e – export price index;

x i – the share of each i-th product in the total value of exports in the base year;

p i is the ratio of the current export price for this product to its price in the base year.

2. The import price index is calculated:

where P and – import price index;

y j is the share of each i-th product in the total value of imports in the base year;

p j is the ratio of the current import price for this product to its price in the base year.

3. The “terms of trade” index is calculated:

I u.t. = , (6.8)

where I a.t. – “terms of trade” index;

P e – export price index (in units of national or other currency);

P and – import price index.

If I y = 1 - the terms of trade have not changed, I y >1 - the terms of trade have improved, I y< 1- условия торговли ухудшились.

Export concentration index (Hirschman index) and used for international comparisons. Shows how wide a range of goods a country exports:

(6.9)

where H j is the export concentration index of country j (j is the country index);

239 – number of types of products according to the UN classification;

i – product index (from 1 to 239);

x i is the value of exports of i-th goods by country j;

x is the total value of exports of country j, which is calculated by the formula:

If H tends to 0, then the trend is positive (a wide range of goods are exported); If H tends to 1, there is a negative trend, a narrow range of exports.

Country's import dependence coefficient:

where And ij is the volume of imports of the i-th product into country j;

P ij is the volume of consumption of the i-th product in country j.

(6.12)

where P ij is the volume of production of the i-th product in country j;

And ij is the volume of imports of the i-th product in country j;

Eij is the volume of exports of the i-th product in country j.

If P ij tends to 0, the country is import-independent; P ij tends to 1 – import-dependent country.

Net Trade Index shows for each product (product group) the level of excess of exports over imports (positive index value) or the level of excess of imports over exports (negative index value).

(6.13)

where I h.t. – net trade indicator;

E i - export of product i;

And i is the import of product j.

If I ch.t. = -1 – goods are only imported, I h.t. = +1 - goods are only exported.

3. Structural indicators

In international practice, the geographical and product structure is analyzed.

Geographical structure– distribution of trade flows between individual countries and their groups, distinguished by territorial or organizational characteristics.

Territorial structure– generalization of data on international trade of countries in one part of the world or an enlarged group of countries (industrial, developing).

Organizational structure– distribution of international trade:

Between countries belonging to the integration association;

Between countries allocated to a certain group in accordance with analytical criteria (oil, grain exporting countries, net debtors)

Commodity structure– distribution of trade flows for individual goods. It is based on the UN Standard International Classification (SITC) or the Harmonized System for Description and Coding of Goods.

There are:

The commodity structure of exports is a systematized set of goods that are exported from a country or region.

The commodity structure of imports is a systematized set of goods that are imported into a country or region.

The directions for systematizing commodity flows are presented in Fig. 6.3.

Figure 6.3 - Systematization of commodity flows on the world market

Export Diversification Index– index of deviation of the export structure from the structure of world exports.

(6.14)

where I d.e. – index of export diversification of country j;

h ij – part of the i-th product in the total exports of country j;

h i – part of the i-th product in total world exports.

If I d.e. tends to 1, then the structure is close to the world average; if I d.e. tends to 0, then it differs significantly from the world one.

Geographic concentration index of exports or imports characterizes the state of the world market for a particular product based on the following characteristics: the number of exporters (importers) and the share of the main exporter (importer).

Herfindahl-Hirschman index:

(6.15)

where I k is the index of geographic concentration of exports (imports) of product k;

x i k – volume of exports (imports) of goods k by country i;

x k – world export (import) of product k (x k = );

n – number of exporting (or importing) countries.

The indicator grows as the share of one exporter increases (shows the level of market monopolization).

4. Intensity indicators

Volume of exports, imports, foreign trade turnover per capita:

(6.18)

where E D is export per capita;

I D – imports per capita;

WTO D – foreign trade turnover per capita;

E is the value of national exports for the year;

I is the cost of national imports for the year;

WTO – foreign trade turnover of the country for the year (E+I);

H – the population of the country for the corresponding year.

Export quota and used to characterize the level of intensity of a country's foreign trade, to assess the openness of the national economy, and participation in the international division of labor.

(6.19)

where K e – export quota;

E – annual export volume of the country;

K e is greater, the more developed the industry, K e is less in large countries than in small ones.

If K e >1, this may be associated with significant re-exports.

World exports of C e » 20-23%, developed countries C e »< 20-23%, развивающиеся страны К э » > 20-23%.

Import quota:

(6.20)

where K i is the import quota;

I is the country’s annual export volume;

GDP is the gross domestic product of a country for the same period.

Foreign trade quota:

, (6.21)

where Kvto is the foreign trade quota;

GDP is the gross domestic product of a country for the same period.

International commodity trade develops unevenly across periods, but not by goods, but by participating countries. The development of international trade and its growth rates (dynamics) are influenced by many factors, which can be short-term and long-term, economic and political, internal and external. The combination of these factors shapes global supply and demand on the world market, world prices and the scale of commodity flows between countries.

Among the economic factors determining the development of international commodity trade, changes in production conditions in countries participating in international trade are of great importance: expansion of production volumes and diversification of products, reduction of material production costs; increasing labor productivity based on the introduction of new technologies, accelerating obsolescence and rapid updating of the assortment, etc.

The expansion and diversification of world trade turnover is facilitated by the deepening of the international division of labor, especially on the basis of intra-industry vertical specialization. Material production is increasingly becoming cross-border; The production of the final product is distributed among different countries in which the raw material is subsequently processed and/or the various parts and components are produced, forming global value chains.

According to the OECD, in 2005, in the cost of final products of office, computing and computer equipment in Japan, the share of national products was 81.5 imported - 18.5%, China - 64.5 and 35.5%, respectively, the Republic of Korea 48.8 and 51.2%. In the structure of Japanese intermediate products, the share of domestically produced products was 75.7%, imported products - 24.3%; China - 59.8 and 40.2%; Republic of Korea 36.4 and 63.6%, respectively.

In 2012, world exports of intermediate goods amounted to $7.6 trillion (42.0% of world merchandise exports), imports - $7.8 trillion (42.7%). China's exports of intermediate goods amounted to 819, imports - 1063 billion dollars, the USA - 764 and 806 billion dollars, respectively, Japan - 437 and 296 billion dollars, Russia - 119 and 124 billion dollars; EU-28 - $2614 and $2454 billion, including in foreign exports/imports, not counting mutual (domestic) trade - $981 and $855 billion, respectively.

International capital migration has a great influence on the dynamics of world trade turnover; liberalization of foreign trade; development of integration processes accompanied by accelerated mutual exchange of goods, services and factors of production; changes in exchange rates, etc.

The dynamics of international trade in the medium term are determined by the phase of the global economic cycle; in the short term - the situation on world commodity markets, the rate of economic growth of the GDP of the main exporting and importing countries. With economic recovery, there are great opportunities for expanding international trade.

The production and export of goods is growing; Demand for imports of energy, investment and raw materials is increasing. The growth in employment is accompanied by an increase in household incomes and consumer demand, including for imported products. In a recession in the world economy, which means a decrease in GDP growth rates, or in a crisis when growth rates are negative, world demand, world prices, export/import growth rates decrease, unemployment increases, consumer demand decreases, etc.

Changes in exports and imports of goods from individual countries are affected by the movement of export and import prices and changes in physical volume. International trade dynamics are usually analyzed on the basis of current prices expressed in dollars. The value of exports/imports of goods in the corresponding year is determined in current prices; these prices determine export earnings and import payments. The level of current prices is determined by contract prices, which in turn are formed taking into account world prices.

World commodity prices are influenced by reference prices for goods from developed countries, stock exchange quotes, prices of auctions and trades, prices of actual transactions, and offer prices of large firms. World prices for manufactured products reflect export prices of large manufacturing companies and exporters, which are usually calculated at domestic prices using the full cost method; prices for metals are regulated by stock exchange quotations, for furs - prices at fur auctions.

International trade is developing unevenly, which is manifested in changes in the balance of forces in the world commodity market between the main groups of countries. The share of developed countries in world exports of goods was 71% in 1970, 1980 - 63, 1990 - 71.3, 2000 - 74.2, 2007 - 64.8, 2012 - 57.6%. In the development of international trade for the 1950-2000s. Ten-year periods can be distinguished.

IN 1950 1960s international trade developed relatively evenly, with an increasing rate, which in average annual terms was in the 1950s. 7%; in the first half of the 1960s. - 8.4%, in the second half of the decade - 11.8%; prices were relatively stable. There were significant differences in growth rates across regional groups and individual countries. For the 1950-1960s. exports of developed countries in constant terms increased 2.8 times, in Japan - 11 times, Germany - 5 times, USA - 1.6 times; developing countries - 3.6 times, Taiwan - almost 13 times, South Korea - 5.4 times.

1970s were characterized by a multiple increase in world prices, especially for raw materials. Since the fall of 1973, world prices for oil, and then for other types of raw materials, have risen sharply. The second sharp jump in oil prices occurred in 1979. These price jumps are called “oil shocks,” which were provoked not so much by economic as by political reasons. Due to the conflict with Israel, Arab countries have reduced oil supplies to countries that supported Israel. The supply of oil on the world market decreased, a shortage arose, oil prices went up sharply, dragging with it the prices of other types of mineral and agricultural raw materials.

The prices of manufactured goods increased mainly due to high inflation in developed countries, but to a lesser extent than the prices of raw materials; and the terms of trade index was in favor of commodity exporters. From 1970 to 1980, world prices for all goods increased 3.7 times, including finished goods - 2.9 times, machinery and equipment - 2.4 times. Prices for all types of raw materials increased 7 times, for agricultural raw materials - 3.1 times, for fuel - 16.5 times, for oil - almost 20 times.

As a result, in the 1970s. world exports by value in current prices increased by 6.3 times, by physical volume (in 2000 prices) by 1.7 times; world imports - 6.2 and 1.7 times, respectively. Exports of developed countries, but their value in current prices increased by 5.6 times, in constant prices - by 1.5 times; developing countries - in value at current prices it increased 10 times, at constant prices - 2.2 times.

In the 1970s differentiation occurred in the group of developing countries: rich oil exporters with excess foreign exchange earnings and the rapidly developing export-oriented four newly industrializing countries of Southeast Asia (Hong Kong, the Republic of Korea, Singapore, Taiwan) appeared. Over the decade, the exports of OPEC member countries increased 17 times, their share in world exports exceeded 15%; NIS Southeast Asia-4 managed to increase export supplies of finished products by 11.5 times and raise the total share in world exports to 2.8%.

1970s were favorable for the Soviet Union and other CMEA member countries; their export income and import payments increased 5 times. By 1980, the foreign exchange income of the USSR due to the export of oil and other types of mineral raw materials increased 6 times, import costs - 5.8 times; exports covered imports by 111.6%.

At first 1980s There was a collapse in world prices; the 1980 level was restored only by the end of the decade. Commodity exporting countries have been hit the hardest; prices for raw materials at the end of the decade were below the 1980 level by 28-30%. Prices for oil and mineral fuels dropped by half by the mid-1980s, and by 1990 they reached 70% of the 1980 level.

An absolute decline in world trade turnover was observed until 1984, and only by 1986 was the 1980 level restored. During the 1980-1990s. world exports and imports increased equally - 1.7 times at current prices. Exports of developed countries increased almost 2 times, imports - 1.8 times; the corresponding figures for developing countries were 1.4 and 1.7 times. Over the decade, exports from CMEA member countries increased by 25%, imports by 29%; Soviet exports in physical volume increased by 35%, imports by 75%, the trade balance of the USSR in 1990 was negative in the amount of $6.3 billion.

Behind 1990s world exports increased 1.9 times (in 2000 prices - 1.5 times). This decade can be divided into two periods: before and after the Asian monetary crisis (1997-1998). From 1990 to 1997, world trade turnover increased by an average of 7-8% per year; in 1998-1999 - by 4-5%. The development of world trade was greatly influenced by the following factors:

• the long economic expansion in the United States, which lasted from the beginning of the decade until 2000; during this time, American exports increased 1.9 times (in constant prices - by 37%);
• monetary and financial crises in Mexico (1994), Argentina (1995), recession in Brazil (1998);
• the Asian monetary and financial crisis of 1997, which affected Indonesia, Malaysia, the Republic of Korea, Thailand, the Philippines, and the crisis in Russia (1998).

During the 1990s there were no absolute drops in the total exports/imports of developed countries; exports increased almost 2 times, imports - 1.7 times. The 1997 crisis slowed down the expansion of exports from developed countries; in 1998, the growth rate was 0.8%; in 1999 -1.8%.

For 1991 -1997 the average annual growth rate of merchandise exports of developing countries amounted to 10-11%; in 1998 - minus 6.1%, in 1999 - plus 8.2%. Until 1997, imports from developing countries increased annually by 8%; in 1998 it was minus 4.7%, in 1999 - minus 0.4%. Commodity exports of the CIS countries for 1997-1999. decreased by 17.5%, imports - by 62.2%; countries of Central and Eastern Europe amounted to plus 8.7 and 0.5%, respectively.

• ITO, International Trade Statistics. 2014. R. 145.
• IMF, International Financial Statistics, Yearbook, 2009.

Organizational and technical aspect studies physical exchange of goods and services between state-registered national economies (states). The main attention is paid to problems associated with the purchase (sale) of specific goods, their movement between counterparties (seller - buyer) and crossing state borders, with payments, etc. These aspects of MT are studied by specific special (applied) disciplines - organization and technology of foreign trade operations, customs, international financial and credit operations, international law (its various branches), accounting, etc.

Organizational and market aspect defines MT as the totality of world demand and world supply, which materialize in two counter flows of goods and (or) services - world exports (exports) and world imports (imports). At the same time, global supply is understood as the volume of production of goods that consumers are willing to collectively purchase at the existing price level within and outside the country, and aggregate supply is understood as the volume of production of goods that producers are willing to offer on the market at the existing price level. They are usually considered only in value terms. The problems that arise in this case are mainly related to the study of the state of the market for specific goods (the relationship between supply and demand on it - the market situation), the optimal organization of commodity flows between countries, taking into account a wide variety of factors, but above all the price factor.

These problems are studied by international marketing and management, theories of international trade and the world market, international monetary and financial relations.

Socio-economic aspect considers MT as a special type socio-economic relations, arising between states in the process and regarding the exchange of goods and services. These relationships have a number of characteristics that make them particularly important in the global economy.

First of all, it should be noted that they are worldwide in nature, since all states and all their economic groupings are involved in them; they are an integrator, uniting national economies into a single world economy and internationalizing it, based on the international division of labor (ILD). MT determines what is more profitable for the state to produce and under what conditions to exchange the produced product. Thus, it contributes to the expansion and deepening of MRI, and therefore MT, involving more and more states in them. These relations are objective and universal, that is, they exist independently of the will of one (group) person and are suitable for any state. They are able to systematize the world economy, arranging states depending on the development of foreign trade (FT), on the share that it (FT) occupies in international trade, on the size of the average per capita foreign trade turnover. On this basis, a distinction is made between “small” countries - those that cannot influence changes in the price of MR if they change their demand for any product and, conversely, “large” countries. Small countries, in order to make up for this weakness in a particular market, often unite (integrate) and present aggregate demand and aggregate supply. But large countries can also unite, thus strengthening their position in the MT.

Characteristics of international trade

A number of indicators are used to characterize international trade:

• value and physical volume of world trade turnover;
• general, product and geographical (spatial) structure;
• level of specialization and industrialization of exports;
• elasticity coefficients of MT, export and import, terms of trade;
• foreign trade, export and import quotas;
• trade balance.

World trade turnover

World trade turnover is the sum of the foreign trade turnover of all countries. Foreign trade turnover of the country is the sum of exports and imports of one country with all the countries with which it has foreign trade relations.

Since all countries import and export goods and services, then world trade turnover is also defined as sum of world exports and world imports.

State world trade turnover is assessed by its volume for a certain time period or on a certain date, and development— the dynamics of these volumes over a certain period.

Volume is measured in value and physical terms, respectively, in US dollars and in physical measurement (tons, meters, barrels, etc., if it applies to a homogeneous group of goods), or in conventional physical measurement, if the goods do not have a single physical measurement . To estimate physical volume, value is divided by the average world price.

To assess the dynamics of global trade turnover, chain, base and average annual growth rates (indices) are used.

MT structure

The structure of world trade turnover shows ratio in its total volume of certain parts, depending on the selected characteristic.

General structure reflects the ratio of exports and imports as a percentage or in shares. In physical volume this ratio is equal to 1, but in total the share of imports is always greater than the share of exports. This is due to the fact that exports are priced at FOB (Free on board) prices, at which the seller only pays for the delivery of the goods to the port and their loading on board the ship; imports are valued in CIF prices (cost, insurance, freight, i.e. they include the cost of goods, freight costs, insurance costs and other port fees).

Commodity structure world trade turnover shows the share of a particular group in its total volume. It should be borne in mind that in MT a product is considered as a product that satisfies some social need, to which two main market forces are directed - supply and demand, and one of them necessarily operates from abroad.

Goods produced in national economies participate in MT in different ways. Some of them don't participate at all. Therefore, all goods are divided into tradable and non-tradable.

Traded goods are goods that move freely between countries, non-tradable goods – for one reason or another (uncompetitive, strategically important for the country, etc.) do not move between countries. When they talk about the commodity structure of world trade, we are talking only about traded goods.

In the most general proportion in world trade turnover, trade in goods and services is distinguished. Currently the ratio between them is 4:1.

In world practice, various classification systems for goods and services are used. For example, trade in goods uses the Standard International Trade Classification (UN) - SITK, in which 3118 main headings are grouped into 1033 subgroups (of which 2805 items are included in 720 subgroups), which are aggregated into 261 groups, 67 divisions and 10 sections. Most countries use the Harmonized System for Description and Coding of Goods (including the Russian Federation since 1991).

When characterizing the commodity structure of world trade turnover, two large groups of goods are most often distinguished: raw materials and finished products, the ratio between which (in percentage) is 20: 77 (3% other). For certain groups of countries, it varies from 15: 82 (for developed countries with market economies) (3% others) to 45: 55 (for developing countries). For individual countries (foreign trade turnover), the range of variations is even wider. This ratio may change depending on changes in prices for raw materials, especially energy.

For a more detailed description of the product structure, a diversified approach can be used (within the framework of the SMTC or in other frameworks in accordance with the objectives of the analysis).

To characterize world exports, it is important to calculate the share of engineering products in its total volume. Comparing it with a similar indicator for a country allows us to calculate the industrialization index of its exports (I), which can range from 0 to 1. The closer it is to 1, the more the trends in the development of the country’s economy coincide with the trends in the development of the world economy.

Geographical (spatial) structure world trade turnover is characterized by its distribution according to the directions of commodity flows - the totality of goods (in physical value terms) moving between countries.

There are commodity flows between countries with developed market economies (ADME). They are usually designated “West - West” or “North - North”. They account for about 60% of world trade; between SRRE and RS, which denote “West-South” or “North-South”, they account for over 30% of world trade turnover; between RS - "South - South" - about 10%.

In the spatial structure, regional, integration and intracorporate trade turnover should also be distinguished. These are parts of global trade turnover, reflecting its concentration within one region (for example, Southeast Asia), one integration group (for example, the EU) or one corporation (for example, a multinational corporation). Each of them is characterized by its general, product and geographical structure and reflects the trends and degree of internationalization and globalization of the world economy.

Specialization MT

To assess the degree of specialization of world trade turnover, the specialization index (T) is calculated. It shows the share of intra-industry trade (exchange of parts, assemblies, semi-finished products, finished items of one industry, for example, cars of different brands and models) in the total volume of world trade turnover. Its value is always in the range 0-1; The closer it is to 1, the deeper the international division of labor (IDL) in the world, the greater the role of the intra-industry division of labor in it. Naturally, its value will depend on how broadly the industry is defined: the wider it is, the higher the T coefficient.

A special place in the set of indicators of world trade turnover is occupied by those that allow us to assess the impact of world trade on the world economy. These include, first of all, the elasticity coefficient of world trade. It is calculated as the ratio of the growth indices of physical volumes of GDP (GNP) and trade turnover. Its economic content is that it shows how much percent GDP (GNP) increased with a 1% increase in trade turnover. The global economy is characterized by a tendency to strengthen the role of the transport sector. For example, in 1951-1970. the elasticity coefficient was 1.64; in 1971-1975 and 1976-1980 - 1.3; in 1981-1985 - 1.12; in 1987-1989 - 1.72; in 1986-1992 - 2.37. As a rule, during periods of economic crises, the elasticity coefficient is lower than during periods of recession and recovery.

Terms of trade

Terms of trade- a coefficient that establishes a connection between average world prices of exports and imports, since it is calculated as the ratio of their indices for a certain period of time. Its value varies from 0 to + ¥: if it is equal to 1, then the terms of trade are stable and maintain parity of export and import prices. If the coefficient increases (compared to the previous period), it means that the terms of trade are improving and vice versa.

MT elasticity coefficients

Import elasticity— an index characterizing changes in aggregate demand for imports resulting from changes in the terms of trade. It is calculated as a percentage of import volumes and their prices. In its numerical value it is always greater than zero and varies up to
+ ¥. If its value is less than 1, it means that a price increase of 1% led to an increase in demand by more than 1%, and therefore, demand for imports is elastic. If the coefficient is more than 1, then the demand for imports has increased by less than 1%, which means that imports are inelastic. Therefore, an improvement in the terms of trade forces a country to increase spending on imports if demand for it is elastic, and decrease it if it is inelastic, while increasing spending on exports.

Export elasticity and imports are also closely related to terms of trade. When the elasticity of imports is equal to 1 (a drop in the price of imports by 1% led to an increase in its volume by 1%), the supply (export) of goods increases by 1%. This means that the elasticity of exports (Ex) will be equal to the elasticity of imports (Eim) minus 1, or Ex = Eim - 1. Thus, the higher the elasticity of imports, the more developed the market mechanism is, allowing producers to respond more quickly to changes in world prices. Low elasticity is fraught with serious economic problems for the country, if this is not associated with other reasons: high investments made in the industry earlier, the inability to quickly reorient, etc.

The above elasticity indicators can be used to characterize international trade, but they are more effective for characterizing foreign trade. This also applies to such indicators as foreign trade, export and import quotas.

MT quotas

The foreign trade quota (FTC) is defined as half the sum (S/2) of a country's exports (E) and imports (I), divided by GDP or GNP and multiplied by 100%. It characterizes the average dependence on the world market, its openness to the world economy.

Analysis of the importance of exports for a country is assessed by the export quota - the ratio of the amount of exports to GDP (GNP) multiplied by 100%; The import quota is calculated as the ratio of the amount of imports to GDP (GNP) multiplied by 100%.

An increase in the export quota indicates an increase in its importance for the development of the country’s economy, but this importance itself can be both positive and negative. It is certainly positive if the export of finished products expands, but an increase in the export of raw materials, as a rule, leads to a deterioration in the terms of trade for the exporting country. If exports are single-product, then its growth can lead to the destruction of the economy, which is why such growth is called destructive. The result of such an increase in exports is the insufficiency of funds for its further increase, and the deterioration of the terms of trade in terms of profitability does not allow the purchase of the required amount of imports with export earnings.

Trade balance

The resulting indicator characterizing a country's foreign trade is the trade balance, which is the difference between the amount of exports and imports. If this difference is positive (which is what all countries strive for), then the balance is active; if it is negative, it is passive. The trade balance is an integral part of the country's balance of payments and largely determines the latter.

Current trends in the development of international trade in goods and services

The development of modern MT occurs under the influence of general processes occurring in the global economy. The economic recession that affected all groups of countries, the Mexican and Asian financial crises, the growing size of internal and external imbalances in many, including developed, countries could not but cause unevenness in the development of international trade and a slowdown in its growth rate in the 1990s. At the beginning of the 21st century. The growth rate of world trade turnover increased, and in 2000-2005. it increased by 41.9%.

The world market is characterized by trends associated with the further internationalization of the world economy and its globalization. They are manifested in the growing role of international trade in the development of the world economy, and foreign trade in the development of national economies. The first is confirmed by the increase in the elasticity coefficient of world trade turnover (more than doubled compared to the mid-1980s), and the second by the increase in export and import quotas for most countries.

“Openness”, “interdependence” of economies, “integration” are becoming key concepts for the world economy and international trade. This happened largely under the influence of TNCs, which truly became centers of coordination and engines of global exchange of goods and services. Within themselves and among themselves, they created a network of relationships that went beyond the borders of states. As a result, about 1/3 of all imports and up to 3/5 of trade in machinery and equipment are intra-corporate trade and represent the exchange of intermediate products (components). The consequence of this process is the barterization of international trade and the growth of other types of countertrade transactions, which already account for up to 30% of all international trade. This part of the world market loses purely commercial features and turns into so-called quasi-trade. It is served by specialized intermediary firms, banking and financial institutions. At the same time, the nature of competition in the global market and the structure of competitive factors are changing. The development of economic and social infrastructure, the presence of a competent bureaucracy, a strong educational system, a sustainable policy of macroeconomic stabilization, quality, design, style of product design, timely deliveries, and after-sales service come to the fore. As a result, countries are clearly stratified on the global market based on technological leadership. Success favors those countries that have new competitive advantages, that is, they are technological leaders. They are a minority in the world, but they receive the majority of FDI, which strengthens their technological leadership and competitiveness in the IR.

Significant changes are taking place in the commodity structure of the MT: the share of finished products has increased and the share of food and raw materials (excluding fuel) has decreased. This happened as a result of the further development of scientific and technological progress, which is increasingly replacing natural raw materials with synthetic ones, allowing for the implementation of resource-saving technologies in production. At the same time, trade in mineral fuels (especially oil) and gas increased sharply. This is due to a complex of factors, including the development of the chemical industry, changes in the fuel and energy balance and an unprecedented increase in oil prices, which at the end of the decade, compared to its beginning, more than doubled.

In the trade of finished products, the share of science-intensive goods and high-tech products (microtechnical, chemical, pharmaceutical, aerospace, etc. products) is growing. This is especially clear in the exchange between developed countries - technological leaders. For example, in the foreign trade of the USA, Switzerland and Japan, the share of such products accounts for over 20%, Germany and France - about 15%.

The geographical structure of international trade has also changed quite noticeably, although the “West-West” sector is still decisive for its development, which accounts for about 70% of world trade turnover, and within this sector the leading role is played by a dozen (USA, Germany, Japan, France, Great Britain, Italy, the Netherlands, Canada, Switzerland, Sweden).

At the same time, trade between developed countries and developing countries is growing more dynamically. This is due to a whole range of factors, not the least of which is the disappearance of an entire cluster of countries in transition. According to the UNCTAD classification, all of them became developing countries (except for 8 CEE countries that joined the EU on May 1, 2004). According to UNCTAD estimates, DCs were the engine of development of the transport industry in the 1990s. They remain so at the beginning of the 21st century. This is due to the fact that although the RS markets are less capacious than the RE markets, they are more dynamic and therefore more attractive for their developed partners, especially for TNCs. At the same time, the purely agricultural and raw materials specialization of most RS is complemented by the transfer to them of functions of supplying industrial centers with material-intensive and labor-intensive products from manufacturing industries, based on the use of cheaper labor. These are often the most environmentally polluting industries. TNCs contribute to the growth of the share of finished products in the exports of the Russian Federation, however, the commodity structure of trade in this sector remains predominantly raw materials (70-80%), which makes it very vulnerable to price fluctuations on the world market and deteriorating terms of trade.

In the trade of developing countries, there are a number of very acute problems that arise primarily due to the fact that the main factor of their competitiveness is price, and the terms of trade that change not in their favor inevitably lead to an increase in its imbalance and less intensive growth. Eliminating these problems involves optimizing the commodity structure of foreign trade on the basis of diversifying industrial production, eliminating the technological backwardness of countries that makes their export of finished products uncompetitive, and increasing the activity of countries in trade in services.

Modern transport industry is characterized by a tendency towards the development of trade in services, especially business ones (engineering, consulting, leasing, factoring, franchising, etc.). If in 1970 the volume of world exports of all services (including all types of international and transit transport, foreign tourism, banking services, etc.) amounted to 80 billion dollars, then in 2005 it was about 2.2 trillion. dollars, i.e. almost 28 times more.

At the same time, the growth rate of exports of services is slowing down and significantly lags behind the growth rate of exports of goods. So, if for 1996-2005. The average annual export of goods and services almost doubled compared to the previous decade, then in 2001-2005. The average annual growth in exports of goods was 3.38%, and of services - 2.1%. As a result, the share of services in the total volume of world trade turnover is stagnating: in 1996 it was 20%, in 2000 - 19.6%, in 2005 - 20.1%. The leading positions in this trade in services are occupied by RDREs, accounting for about 80% of the total volume of international trade in services, which is due to their technological leadership.

The global market for goods and services is characterized by trends associated with the further internationalization of the world economy. In addition to the growing role of trade and trade in the development of the world economy, the transformation of foreign trade into an integral part of the national reproduction process, there is a clear tendency towards its further liberalization. This is confirmed not only by a decrease in the average level of customs duties, but also by the elimination (softening) of quantitative restrictions on imports, the expansion of trade in services, the change in the nature of the world market itself, which now receives not so much surplus national production of goods, but pre-agreed deliveries of goods produced specifically for a specific consumer goods.

International trade is a system of international commodity-money relations, consisting of foreign trade of all countries of the world. International trade arose during the emergence of the world market in the 16th-18th centuries. Its development is one of the important factors in the development of the world economy of the New Age.

The term international trade was first used in the 12th century by the Italian economist Antonio Margaretti, author of the economic treatise “Power of the Popular Masses in Northern Italy.”

Advantages of countries participating in international trade:

• the intensification of the reproduction process in national economies is a consequence of increased specialization, the creation of opportunities for the emergence and development of mass production, an increase in the level of equipment utilization, and an increase in the efficiency of the introduction of new technologies;
• an increase in export supplies entails an increase in employment;
• international competition creates the need to improve enterprises;
• export earnings serve as a source of capital accumulation aimed at industrial development.

Theories of international trade

The development of world trade is based on the benefits it brings to the countries participating in it. The theory of international trade gives an idea of ​​what is the basis of this gain from foreign trade, or what determines the directions of foreign trade flows. International trade serves as a tool through which countries, by developing their specialization, can increase the productivity of existing resources and thus increase the volume of goods and services they produce and improve the level of well-being of the population.

Many famous economists have dealt with international trade issues. The main theories of international trade - Mercantilist theory, A. Smith's Theory of Absolute Advantage, D. Ricardo and D. S. Mill's Theory of Comparative Advantage, Heckscher-Ohlin Theory, Leontief Paradox, Product Life Cycle Theory, M. Porter's Theory, Rybczynski Theorem, and Samuelson and Stolper Theory.

Mercantilist theory. Mercantilism is a system of views of economists of the 15th-17th centuries, focused on the active intervention of the state in economic activity. Representatives of the direction: Thomas Maine, Antoine de Montchretien, William Stafford. The term was proposed by Adam Smith, who criticized the works of mercantilists. The mercantilist theory of international trade arose during the period of initial accumulation of capital and great geographical discoveries, and was based on the idea that the presence of gold reserves was the basis for the prosperity of a nation. Foreign trade, the mercantilists believed, should be focused on obtaining gold, since in the case of simple commodity exchange, ordinary goods, once used, cease to exist, and gold accumulates in the country and can be used again for international exchange.

Trading was viewed as a zero-sum game, where the gain of one participant automatically means the loss of another, and vice versa. To obtain maximum benefits, it was proposed to strengthen government intervention and control over the state of foreign trade. The trade policy of the mercantilists, called protectionism, was to create barriers in international trade that protect domestic producers from foreign competition, stimulate exports and limit imports by introducing customs duties on foreign goods and receiving gold and silver in return for their goods.

The main provisions of the Mercantilist theory of international trade:

• the need to maintain an active trade balance of the state (excess of exports over imports);
• recognition of the benefits of bringing gold and other precious metals into the country in order to improve its welfare;
• money is a stimulus for trade, since it is believed that an increase in the supply of money increases the volume of the commodity supply;
• protectionism aimed at importing raw materials and semi-finished products and exporting finished products is welcomed;
• restrictions on the export of luxury goods, as it leads to the outflow of gold from the state.

Adam Smith's theory of absolute advantage. In his work “An Inquiry into the Nature and Causes of the Wealth of Nations,” in a polemic with mercantilists, Smith formulated the idea that countries are interested in the free development of international trade because they can benefit from it regardless of whether they are exporters or importers. Each country must specialize in the production of that product where it has an absolute advantage - a benefit based on different amounts of production costs in individual countries participating in foreign trade. Refusal to produce goods for which countries do not have absolute advantages, and the concentration of resources on the production of other goods lead to an increase in overall production volumes and an increase in the exchange of products of their labor between countries.

Adam Smith's theory of absolute advantage suggests that a country's real wealth consists of the goods and services available to its citizens. If a country can produce a particular good more and cheaper than other countries, then it has an absolute advantage. Some countries can produce goods more efficiently than others. The country's resources flow into profitable industries because the country cannot compete in unprofitable industries. This leads to an increase in the country's productivity as well as the skill of the workforce; Long periods of producing homogeneous products provide incentives for the development of more efficient work methods.

Natural advantages for a particular country: climate; territory; resources. Acquired advantages for a particular country: production technology, that is, the ability to produce a variety of products.

The theory of comparative advantage by D. Ricardo and D. S. Mill. In his work “Principles of Political Economy and Taxation,” Ricardo showed that the principle of absolute advantage is only a special case of the general rule, and substantiated the theory of comparative advantage. When analyzing the directions of development of foreign trade, two circumstances should be taken into account: firstly, economic resources - natural, labor, etc. - are distributed unevenly between countries, and secondly, the effective production of various goods requires different technologies or combinations of resources.

The advantages that countries have are not given once and for all, D. Ricardo believed, therefore even countries with absolutely higher levels of production costs can benefit from trade exchanges. It is in the interests of each country to specialize in production in which it has the greatest advantage and the least weakness and for which not absolute, but relative benefit is the greatest - this is D. Ricardo’s law of comparative advantage. According to Ricardo, the total volume of output will be greatest when each product is produced by the country in which the opportunity costs are lower. Thus, comparative advantage is a benefit based on lower opportunity costs in the exporting country. Hence, as a result of specialization and trade, both countries involved in the exchange will benefit. An example in this case would be the exchange of English cloth for Portuguese wine, which brings benefits to both countries, even if the absolute costs of production of both cloth and wine are lower in Portugal than in England.

Subsequently, D.S. Mill, in his work “Foundations of Political Economy,” explained the price at which exchange is carried out. According to Mill, the price of exchange is set by the laws of supply and demand at such a level that the totality of each country's exports allows it to pay for the totality of its imports - this is the law of international value.

Heckscher-Ohlin theory. This theory of scientists from Sweden, which appeared in the 30s of the twentieth century, refers to the neoclassical concepts of international trade, since these economists did not adhere to the labor theory of value, considering capital and land productive, along with labor. Therefore, the reason for their trade is the different availability of factors of production in countries participating in international trade.

The main provisions of their theory boiled down to the following: firstly, countries have a tendency to export those goods for the production of which the factors of production available in abundance in the country are used, and, conversely, to import goods for the production of which relatively rare factors are needed; secondly, in international trade there is a tendency to equalize “factor prices”; third, the export of goods can be replaced by the movement of factors of production across national borders.

The neoclassical concept of Heckscher-Ohlin turned out to be convenient for explaining the reasons for the development of trade between developed and developing countries, when in exchange for raw materials coming to developed countries, machinery and equipment were imported into developing countries. However, not all phenomena of international trade fit into the Heckscher-Ohlin theory, since today the center of gravity of international trade is gradually shifting to mutual trade of “similar” goods between “similar” countries.

Leontief's paradox. These are studies by an American economist who questioned the provisions of the Heckscher-Ohlin theory and showed that in the post-war period the US economy specialized in those types of production that required relatively more labor rather than capital. The essence of Leontiev's paradox was that the share of capital-intensive goods in exports could grow, while labor-intensive goods could decline. In fact, when analyzing the US trade balance, the share of labor-intensive goods did not decrease. The solution to Leontief's paradox was that the labor intensity of goods imported by the United States is quite high, but the price of labor in the value of the product is much lower than in US exports. The capital intensity of labor in the United States is significant, together with high labor productivity this leads to a significant impact on the price of labor in export supplies. The share of labor-intensive supplies in US exports is growing, confirming the Leontief paradox. This is due to the growth in the share of services, labor prices and the structure of the US economy. This leads to an increase in labor intensity throughout the American economy, not excluding exports.

Product life cycle theory. It was put forward and substantiated by R. Vernoy, C. Kindelberger and L. Wels. In their opinion, a product, from the moment it appears on the market until it leaves it, goes through a cycle consisting of five stages:

• product development. The company finds and implements a new product idea. At this time, sales volume is zero, costs rise.
• bringing the product to market. There is no profit due to high costs for marketing activities, sales volume is growing slowly;
• rapid market penetration, increased profits;
• maturity. Sales growth is slowing down, since the bulk of consumers have already been attracted. The level of profit remains unchanged or decreases due to increased costs of marketing activities to protect the product from competition;
• decline Decline in sales and reduction in profits.

M. Porter's theory. This theory introduces the concept of country competitiveness. It is national competitiveness, from Porter’s point of view, that determines the success or failure in specific industries and the place that a country occupies in the world economic system. National competitiveness is determined by the capacity of industry. At the heart of the explanation of a country's competitive advantage is the role of the home country in stimulating renewal and improvement (that is, in stimulating the production of innovation). Government measures to maintain competitiveness:

• government influence on factor conditions;
• government influence on demand conditions;
• government impacts on related and supporting industries;
• government influence on firm strategy, structure, and competition.

A serious incentive to success in the global market is sufficient competition in the domestic market. Artificial dominance of enterprises through government support, from Porter’s point of view, is a negative solution that leads to waste and inefficient use of resources. The theoretical premises of M. Porter served as the basis for developing recommendations at the state level to increase the competitiveness of foreign trade goods in Australia, New Zealand and the USA in the 90s of the twentieth century.

Rybczynski's theorem. The theorem states that if the value of one of the two factors of production increases, then in order to maintain constant prices for goods and factors it is necessary to increase the production of those products that intensively use this increased factor, and reduce the production of other products that intensively use the fixed factor. In order for the prices of goods to remain constant, the prices of factors of production must remain constant. Factor prices can remain constant only if the ratio of factors used in two industries remains constant. In the case of growth of one factor, this can only occur if production in the industry in which that factor is intensively used is increased and production in another industry is reduced, which will lead to the release of the fixed factor, which will become available for use along with the growing factor in the expanding industry .

Samuelson and Stolper theory. In the middle of the 20th century. (1948), American economists P. Samuelson and V. Stolper improved the Heckscher-Ohlin theory, imagining that in the case of homogeneity of production factors, identical technology, perfect competition and complete mobility of goods, international exchange equalizes the price of production factors between countries. The authors base their concept on Ricardo's model with additions from Heckscher and Ohlin and view trade not just as a mutually beneficial exchange, but also as a means to reduce the development gap between countries.

Development and structure of international trade

International trade is a form of exchange of labor products in the form of goods and services between sellers and buyers of different countries. The characteristics of international trade are the volume of world trade turnover, the commodity structure of exports and imports and its dynamics, as well as the geographical structure of international trade. Export is the sale of goods to a foreign buyer and their export abroad. Import is the purchase of goods from foreign sellers with their import from abroad.

Modern international trade is developing at a fairly high pace. Among the main trends in the development of international trade, the following can be identified:

1. There is a preferential development of trade in comparison with sectors of material production and the entire world economy as a whole. Thus, according to some estimates, during the period from the 50s to the 90s of the 20th century, the world's GDP grew approximately 5 times, and merchandise exports - no less than 11 times. Accordingly, if in 2000 the world's GDP was estimated at $30 trillion, then the volume of international trade - exports plus imports - was $12 trillion.

2. In the structure of international trade, the share of manufacturing products is growing (up to 75%), of which more than 40% are engineering products. Only 14% is fuel and other raw materials, the share of agricultural products is about 9%, clothing and textiles are 3%.

3. Among the changes in the geographical direction of international trade flows, there is an increasing role of developed countries and China. However, developing countries (mainly due to the emergence of new industrial countries with a pronounced export orientation from among them) managed to significantly increase their influence in this area. In 1950, they accounted for only 16% of world trade turnover, and by 2001 - already 41.2%.

Since the second half of the 20th century, uneven dynamics of foreign trade have emerged. In the 1960s, Western Europe is the main center of international trade. Its exports were almost 4 times higher than US exports. By the end of the 1980s, Japan began to become a leader in terms of competitiveness. During the same period, the “new industrial countries” of Asia - Singapore, Hong Kong, Taiwan - joined it. However, by the mid-1990s, the United States took a leading position in the world in terms of competitiveness. Exports of goods and services in the world in 2007, according to the WTO, amounted to 16 trillion. US dollars. The share of the goods group is 80%, and services - 20% of the total trade volume in the world.

4. The most important area of ​​development of foreign trade is intra-company trade within TNCs. According to some data, intra-company international deliveries account for up to 70% of all world trade, 80–90% of sales of licenses and patents. Since TNCs are the most important link in the world economy, world trade is at the same time trade within TNCs.

5. Trade in services is expanding, in several ways. The first is cross-border delivery, such as distance learning. Another way of supplying services - consumption abroad - involves the movement of the consumer or the movement of his property to the country where the service is provided, for example, the service of a guide on a tourist trip. The third method is a commercial presence, for example, the operation of a foreign bank or restaurant in the country. And the fourth way is the movement of individuals who are service providers abroad, for example, doctors or teachers. The leaders in trade in services are the most developed countries of the world.

Regulation of international trade

Regulation of international trade is divided into government regulation and regulation through international agreements and the creation of international organizations.

Methods of government regulation of international trade can be divided into two groups: tariff and non-tariff.

1. Tariff methods come down to the use of customs duties - special taxes levied on internationally traded products. Customs tariffs are fees levied by the state for processing the transportation of goods and other valuables abroad. This fee, called duty, is taken into account in the price of the product and is ultimately paid by the consumer. Customs taxation involves the use of import duties to hinder the import of foreign goods into the country; export duties are used less frequently.

According to the form of calculation, duties are distinguished:

a) ad valorem, which are charged as a percentage of the price of the product;

b) specific, charged in the form of a certain amount of money per volume, weight or unit of goods.

The most important goals of using import duties are both direct restriction of imports and restriction of competition, including unfair competition. Its extreme form is dumping - the sale of goods on the foreign market at prices lower than those existing for an identical product on the domestic market.

2. Non-tariff methods are diverse and represent a set of direct and indirect restrictions on foreign economic activity through an extensive system of economic, political and administrative measures. These include:

• quotas (provisioning) - the establishment of quantitative parameters within which it is possible to carry out certain foreign trade operations. In practice, quotas are usually established in the form of lists of goods, the free import or export of which is limited to a percentage of the volume or value of their national production. When the quantity or amount of the contingent is exhausted, the export (import) of the corresponding product is terminated;
• licensing – issuing special permits (licenses) to business entities to conduct foreign trade operations. It is often used in conjunction with quotas to control license-based quotas. In some cases, the licensing system acts as a type of customs taxation applied by a country to generate additional customs revenue;
• embargo – a ban on export-import operations. It may apply to a specific group of goods or be introduced in relation to individual countries;
• currency control is a restriction in the monetary sphere. For example, a financial quota may limit the amount of currency an exporter can receive. Quantitative restrictions may apply to the volume of foreign investment, the amount of foreign currency exported by citizens abroad, etc.;
• taxes on export-import transactions - taxes as non-tariff measures that are not regulated by international agreements, such as customs duties, and are therefore levied on both domestic and foreign goods. State subsidies for exporters are also possible;
• administrative measures that are mainly related to restrictions on the quality of goods sold on the domestic market. National standards occupy an important place. Failure to comply with country standards may lead to a ban on the import of imported products and their sale on the domestic market. Similarly, the system of national transport tariffs often creates advantages in paying for the transportation of goods to exporters compared to importers. In addition, other forms of indirect restrictions can also be used: the closure of certain ports and railway stations for foreigners, an order to use a certain share of national raw materials in the production of products, a ban on the purchase by state organizations of imported goods in the presence of national analogues, etc.

The high importance of MT for the development of the world economy has led to the creation by the world community of special international regulatory organizations, whose efforts are aimed at developing rules, principles, procedures for carrying out international trade transactions and monitoring their implementation by member states of these organizations.

A special role in regulating international trade is played by multilateral agreements operating within the framework of:

• GATT (General Agreement on Tariffs and Trade);
• WTO();
• GATS (General Agreement on Trade in Services);
• TRIPS (Trade-Related Aspects of Intellectual Property Rights Agreement);

GATT. In accordance with the fundamental provisions of the GATT, trade between countries should be carried out on the basis of the most favored nation principle (MFN), i.e., most favored nation (MFN) treatment is established in the trade of GATT member countries, guaranteeing equality and non-discrimination. However, at the same time, exceptions from the PNB were established for countries included in economic integration groups; for countries, former colonies, which are in traditional ties with the former metropolises; for cross-border and coastal trade. According to the most rough estimates, “exceptions” account for at least 60% of global trade in finished goods, which deprives the PNB of universality.

GATT recognizes customs tariffs as the only acceptable means of regulating the transport industry, which are reduced iteratively (from round to round). Currently, their average level is 3-5%. But even here there are exceptions that allow the use of non-tariff means of protection (quotas, export and import licenses, tax breaks). These include cases of application of programs to regulate agricultural production, disturbances in the balance of payments, and the implementation of regional development and assistance programs.

GATT contains the principle of refusing unilateral actions and making decisions in favor of negotiations and consultations if such actions (decisions) could lead to a restriction of free trade.

GATT - the predecessor of the WTO - made its decisions at negotiation rounds of all members of this Agreement. There were eight of them in total. The most significant decisions that guide the WTO in regulating MT to date were made at the last (eighth) Uruguay round (1986-1994). This round further expanded the range of issues regulated by the WTO. It included trade in services, as well as a program to reduce customs duties, intensify efforts to regulate trade goods in certain industries (including agriculture), and strengthen control over those areas of national economic policy that affect the country’s foreign trade.

It was decided to escalate customs duties as the degree of processing of goods increases while reducing duties on raw materials and eliminating them on some types of alcoholic beverages, construction and agricultural equipment, office furniture, toys, pharmaceutical goods - only 40% of global imports. Liberalization of trade in clothing, textiles and agricultural products continued. But the last and only means of regulation is customs duties.

In the field of anti-dumping measures, the concepts of “legal subsidies” and “acceptable subsidies” were adopted, which include subsidies aimed at environmental protection and regional development, provided that their size is at least 3% of the total value of imports of goods or 1% of its total cost. All others are classified as illegal and their use in foreign trade is prohibited.

Among the issues of economic regulation that indirectly affect foreign trade, the Uruguay Round included requirements for the minimum export of goods produced in joint ventures, the mandatory use of local components, and a number of others.

WTO. The Uruguay Round decided to create the WTO, which became the successor to the GATT and retained its main provisions. But the decisions of the round supplemented them with the tasks of ensuring free trade not only through liberalization, but also through the use of so-called links. The meaning of the links is that any government decisions to increase the tariff are made simultaneously (in conjunction) with the decision to liberalize the import of other goods. The WTO is not within the scope of the UN. This allows it to pursue its own independent policy and control over the activities of participating countries in compliance with adopted agreements.

GATS. The regulation of international trade in services has certain specifics. This is due to the fact that services, characterized by extreme diversity of forms and contents, do not form a single market that would have common features. But it has general trends that make it possible to regulate it at the global level, even taking into account new aspects in its development that are introduced by TNCs that dominate it and monopolize it. Currently, the global services market is regulated at four levels: international (global), industry (global), regional and national.

General regulation at the global level is carried out within the framework of the GATS, which came into force on January 1, 1995. Its regulation uses the same rules that were developed by the GATT in relation to goods: non-discrimination, national treatment, transparency (openness and uniform reading of laws), non-application of national laws to the detriment of foreign producers. However, the implementation of these rules is complicated by the peculiarities of services as goods: the absence of a material form for most of them, the coincidence of the time of production and consumption of services. The latter means that regulating the terms of trade in services means regulating the conditions for their production, and this in turn means regulating the conditions for investment in their production.

The GATS includes three parts: a framework agreement defining the general principles and rules for regulating trade in services; special agreements acceptable to individual service industries, and a list of obligations of national governments to eliminate restrictions in service industries. Thus, only one level, the regional level, falls outside the scope of GATS activities.

The GATS agreement is aimed at liberalizing trade in services and covers the following types: services in the field of telecommunications, finance and transport. Issues of export sales of films and television programs are excluded from the scope of its activities, which is due to the fears of individual states (European countries) of losing the identity of their national culture.

Industry regulation of international trade in services is also carried out on a global scale, which is associated with their global production and consumption. Unlike the GATS, the organizations regulating such services are of a specialized nature. For example, civil aviation transportation is regulated by the International Civil Aviation Organization (ICAO), foreign tourism by the World Tourism Organization (WTO), and maritime transportation by the International Maritime Organization (IMO).

The regional level of international trade in services is regulated within the framework of economic integration groupings, in which restrictions on mutual trade in services are lifted (as, for example, in the EU) and restrictions on such trade with third countries can be introduced.

The national level of regulation concerns foreign trade in services of individual states. It is implemented through bilateral trade agreements, of which trade in services may be an integral part. A significant place in such agreements is given to the regulation of investments in the service sector.

Source - World Economy: textbook / E.G. Guzhva, M.I. Lesnaya, A.V. Kondratyev, A.N. Egorov; SPbGASU. – St. Petersburg, 2009. – 116 p.

To collect statistical data on foreign trade operations, the assessment of VO is very important, since on its basis the following is subsequently calculated:

• trade balance;
• average prices;
• the efficiency of foreign trade operations in general and other significant parameters.

Foreign trade turnover is closely related to the concept of foreign trade.

What is foreign trade

Trade relations of one state with other countries, including import operations (import) and export operations (export) of goods, are called foreign trade. This term applies exclusively to individual countries.

Foreign trade helps:

• receive additional income from the sale of national products abroad;
• saturate the state's domestic market;
• increase labor productivity;
• cope with limited resources within the country.

Taken together, foreign trade transactions of different states form world (international) trade. International trade is the oldest form of economic relations between states, which has a huge impact on the development of the world economy as a whole.

How is foreign trade turnover calculated?

So, the main concepts of foreign trade are export and import.

• Exports are the total volume of goods produced in a country that are exported from it over a certain time period.
• Imports are a set of goods produced outside a certain state and imported into it over a certain period.

Export and import transactions are recorded at the moment the goods cross the border. They are displayed in foreign economic and customs statistics. The export operation of the seller state corresponds to the import operation of the buyer state.

As a rule, export accounting is carried out at FOB (free of board) prices. In international trade relations, this means that the price of a product includes the costs of its transportation on board an international ship or other transport and insurance until loading is completed.

Imports are recorded at CIF (cost, insurance, freight) prices. This means that the price of the goods includes the costs of its transportation and insurance, customs duties to the buyer’s port of shipment. That is, all these costs are borne by the seller. The formula for the total volume of foreign trade turnover is as follows:

VO = Import of goods + Export of goods

A country's VO is calculated in monetary units, since different goods cannot be compared in physical measurements, for example, in tons, liters or meters.

How is the balance of foreign trade turnover calculated?

The balance of foreign trade turnover is also a significant concept for assessing the economy of a particular country. It can be calculated using the following formula:

Balance VO = Export of goods - import of goods

The balance of foreign trade turnover can be either positive or negative. A positive VO balance (the government sells more than it buys) indicates economic growth. On the contrary, a negative balance indicates that the market is oversaturated with imported goods, and the interests of domestic producers may be infringed.

World foreign trade turnover

World trade turnover is the total exports of all countries and is expressed in US dollars.

The participation of a particular state in world trade is reflected by indicators such as export and import quotas.

• Export quota is the ratio of export transactions to gross domestic product (GDP). This indicator allows you to understand what part of the goods and services produced within the state is sold on the international market.
• Import quota is the ratio of import operations to the volume of domestic consumption of state products. Shows the share of goods imported into the country in domestic consumption.

Statistical data on global foreign trade turnover is collected, summarized and systematized. For this purpose, international nomenclatures were developed (they are taken into account during the construction of national foreign trade classifications).