Theoretical foundations of foreign trade

When giving the concept of international trade, we should not forget that it, like other components of the system of international financial relations, is considered a very labor-intensive and multifaceted phenomenon, which is why there are a large number of its definitions. Here is one of the more generally accepted ones: international trade is the sum of the foreign trade of all countries in the world.

Foreign trade is the trade of a given state with other states, consisting of the export (export) and import (import) of goods, work, and services. Foreign and international trade are considered the closest concepts. The same commodity transaction between two countries can be considered from the perspective of both foreign and international trade. Both of them are connected with the sphere of international circulation, with acts of purchase and sale. The formation of these categories is oriented by the processes of the production sphere. However, these concepts are far from unambiguous. Foreign and international trade relate to each other as private and general, as national and international. If we talk about foreign trade, then we mean a specific sector of the economy of a particular country that is related to matters related to the sale of a share of state products (goods and services) in foreign markets and a share of foreign products and services in one state market.

Foreign trade is regulated mainly government agencies, it is associated with such categories as the trade balance and government financial policy.

International trade is a unique area that connects the trade sectors of state economies. Therefore, this is not a purely automatic, but an organic unity that has personal laws of formation, special regulatory bodies. International trade is associated with the international division of labor and the international market.

Foreign trade is the most important sphere of activity of any country. In the absence of trade and foreign markets, no country has the opportunity to exist and develop. At this stage, when individual states have become parts of the international economy, their economies are largely dependent on the foreign market. In connection with the improvement of international specialization and cooperation, the rise of internationalization of economic life, under the influence of the scientific and technological revolution (STR), foreign trade is becoming the most significant factor in financial development, a factor in the interaction and cooperation of countries.

International trade is one of the forms of international economic relations (IER).

As is known, the most important forms of IEO are:

• * international trade;
• * international monetary and financial relations;
• * international scientific, technical and industrial cooperation;
• * international labor migration;
• * international capital migration and international investment;
• * international economic integration.

All these forms are closely connected and interact with each other, although, of course, international trade is considered the main, most important and favorite form. It mediates other forms, a significant share of which are realized through it. Namely, the improvement of international specialization and cooperation in production, international scientific and technical cooperation are reflected in the expansion of the exchange of goods and services between states. The connection and interdependence of international trade and international investment activity are considered very narrow. Foreign investment, most often direct, made by manufacturing firms, usually increases the development of export production in capital-recipient countries and, therefore, contributes to the expansion and increase in the size of world trade.

Regional integration groupings and associations (for example, the EU, NAFTA, CIS, APEC) influence the commodity and geographical structure of international trade and promote its development, usually on the scale of these associations.

At the same time, they often interfere with the improvement of transcontinental trade flows and from time to time limit the processes of unification of the world economy.

In general, the impact of international trade on the global economy and international financial relations are as follows:

• - the rise in foreign trade exchange between states comes down to the fact that the connection and interdependence of the economic complexes of individual states is strengthened so that disruptions in the functioning of the economy of any country can lead to bad consequences for the development of national economies in other states;
• - with the help of international trade effects of all forms are produced world economic relations- export of money, international scientific, technical and industrial cooperation;
• - the expansion of interregional, intraregional and interstate trade relations is a prerequisite and impetus for international economic integration;
• - international trade contributes to the subsequent deepening of the international division of labor and the unification of the world economy.

Consequently, at the present stage, international trade plays a significant role in the development of both the world economy and international economic relations in general, but also of individual entities of the world economy, being, firstly, a powerful factor in economic recovery, and secondly, a factor in increasing the interdependence of states.

In our period, the structure of foreign trade is represented by the following types:

• * export;
• * import;
• * transit trade: purchase abroad with simultaneous sale to a third country;
• * special forms, for example, re-export or re-import of goods that have undergone refinement;
• * production under license;
• * cooperation;
• * compensation transactions, etc.

Export is understood as a type of entrepreneurial foreign trade activity associated with the receipt by a firm (resident) of cash proceeds during the sale and export of its competitive products to a foreign partner (non-resident) abroad.

The export operation scheme includes:

• a) concluding a contract for the supply of a product;
• b) supply of products.

There are 2 types of exports: non-resident (when a company exports leftovers from time to time, offering goods to local wholesalers representing foreign companies) and active (with the aim of expanding exports in a specific market).

Also, exports can be direct or indirect.

Direct export is carried out through the export department of the enterprise, located in own country, through a sales office (branch) abroad, traveling salesmen for export operations, also through foreign distributors or agents.

Indirect export is carried out by attracting independent intermediary exporters, representatives, and various organizations. Indirect exports are more common abroad. This is facilitated by 2 factors:

• 1) the company creates all goods in its own country, therefore, less capital investment is required to expand production and create a personal trading tool abroad;
• 2) less risk.

By import we mean the type entrepreneurial activity Russian residents, associated with the acquisition from non-residents and the import into the resident state of products, services and technologies for subsequent distribution on the domestic market.

There are two types of import operations: direct and indirect.

With direct import, Russian residents purchase products directly from a foreign manufacturer (non-resident) or from an export intermediary abroad. An import transaction is made between a resident (domestic recipient) and a non-resident (supplier) abroad.

With indirect import, Russian companies (residents) purchase a product from a Russian entrepreneur (separate company) specializing in import transactions, who also receives the product from a foreign manufacturer (non-resident) or exporter (they may also be another resident). An import transaction is executed between a Russian entrepreneur specializing in the import of specific products and a general supplier abroad.

The import regime also comes in two types: unlicensed import and licensed import.

Unlicensed import is carried out when the conclusion of import agreements has no restrictions, i.e. An importer (non-resident) may, without special permission from regulatory authorities, enter into a sales agreement (contract) with a foreign supplier (other non-resident), import the product into the territory of the Russian Federation and make payment.

Licensed imports are carried out when the import of products from abroad requires special permission from regulatory authorities, which determine the conditions, volume and issue licenses for any type of product. Only after acquiring an import license can an importer (non-resident) enter into a sales contract with a resident. To carry out an import operation, the importer (non-resident) must have the financial means to purchase products, know potential suppliers, analyze the prices of competitors offering the required product, enter into an agreement with a more preferable exporter (resident), receive the purchased product and make payment for it.

foreign trade economic policy

International trade is a specific form of exchange of labor products between sellers and buyers of different countries, which serves as the initial type of world economic relations.

Within the framework of this definition, it seems appropriate to reverse Special attention for the following circumstances:

• 1) the exchange of labor products does not always have to take the form of trade, i.e. purchase and sale, which involves identifying specific reasons that give rise to international trade;
• 2) we are talking about this type of foreign economic activity, in which, in the strict sense of the word, beyond national territory only the act of selling a manufactured product is transferred, but not its complete or even partial creation;
• 3) the products of labor currently circulating through international trade channels are quite diverse, their most general classification involves the identification of three fundamentally different groups - goods, services, intellectual property rights;
• 4) both logically and historically, international trade forms the foundation on which the entire diverse set of the modern system of international economic relations grows, which, in turn, makes us think about the dialectical relationship between various types of foreign economic activity.

The concept of “international trade” should be distinguished from the terms “foreign trade” and “world trade” that are close to it in meaning, often used in everyday speech as a synonym, but at the same time by no means identical to it (and to each other).

Let's deal with the last of them first. Assessing the situation on the market of each individual country and their entire population as a whole, we must state that in the vast majority of cases, both goods produced by domestic companies and products foreign manufacturers. Accordingly, purchase and sale transactions are concluded and implemented for both one and other products, forming a complex of exchange transactions called world trade. It is thus larger than the totality of relationships that serves as the direct object of consideration of this topic, since it includes relationships between sellers and buyers from the same country.

The main difference between the concepts of “international trade” and “foreign trade” is that, speaking of foreign trade, we evaluate it from the point of view of an individual country or group of countries (foreign trade of Russia, foreign trade of Great Britain, foreign trade of the Baltic countries, etc. .P.). Here everything located outside the national territory acts as external in relation to it. At the same time, when we talk about international trade, we mean activities carried out within the entire world economy. In relation to it, only trade relations with extraterrestrial civilizations could be external. Thus, international trade is the totality of foreign trade of all countries. At the same time, foreign trade of individual states and regions acts as components of international trade.

Main types of foreign trade operations. Foreign trade operations, considered in a generalized form, involve either the export of manufactured products outside the national territory, or, conversely, their import from abroad. Accordingly they talk about export or about import.

At the same time, both export and import operations, in turn, do not act as something homogeneous. They can be divided into smaller groups - varieties. Most often you can come across a classification of foreign trade operations depending on the origin and purpose of the products produced, which is based on the fact that from the point of view of the impact on the economy of countries participating in international trade, different types of foreign trade operations are unequal.

Consequently, the degree of their state regulation may vary, for example, the amount of customs duties charged or the established rights and obligations of the owner in terms of the use of products circulating through international trade channels. For this purpose they are used different kinds customs procedures, a detailed description of which is given in Customs Code Customs Union of Russia, Belarus and Kazakhstan (section 6), in force since 2010. Among the customs procedures, in particular, the following stand out:

• export- a customs procedure in which goods of the customs union are exported outside the customs territory of the customs union and are intended for permanent residence outside its borders;
• re-export- a customs procedure in which goods previously imported into the customs territory of the customs union are exported from this territory without payment and (or) with a refund of paid amounts of import customs duties, taxes and without the use of non-tariff regulation measures;
• temporary export- a customs procedure in which goods of the customs union are imported and used within a specified period outside the customs territory of the customs union with complete exemption from payment of export customs duties and without the use of non-tariff regulation measures, followed by repatriation to the territory of the customs union;
• refusal in favor of the state- a customs procedure in which foreign goods are transferred free of charge into the ownership of a member state of the customs union without paying customs duties and without applying non-tariff regulation measures.

If we look at exports from the point of view of forming the management and marketing strategies of a company, we will get at least two possible classifications. On the one hand, there is a distinction between passive and active exports. Passive export involves the periodic removal of surplus products from the customs territory of the country in case of their occurrence. Active export occurs when a company not only sets, but also realizes the goal of expanding the scale of its operations by selling products in a specific foreign market or several such markets. On the other hand, indirect and direct exports are distinguished. Indirect export involves the use of the services of independent intermediaries - export agents, sales companies, etc. At direct export The manufacturing company itself carries out export operations.

Quantitative parameters of the development of international trade. International (and equally foreign) trade is primarily characterized by three important indicators:

• total volume (trade turnover);
• product (industry) structure;
• geographical structure.

Volume of trade turnover, assessed at the level of an individual country (or group of countries), we obtain if we sum up all export and all import transactions:

To assess the results of foreign trade activities, it is very often necessary to compare data on the volume of trade turnover over a number of years. In this case, we can use two calculation options: firstly, trade turnover, calculated in actual (current) prices, the result of which is the value of trade turnover; secondly, calculation in constant prices, the result of which is the physical volume of trade turnover.

Each of these indicators has its advantages and disadvantages, but both are important for analysis. When using current prices, we have an idea of ​​the real amount of money that the state, on the one hand, receives through the sale of manufactured products abroad, and on the other hand, pays to suppliers of imported goods and services. As for physical volume, here, abstracting from price changes caused by fluctuations in market conditions, we more clearly imagine the real dynamics of the movement of goods and services as such.

We have already found out that international trade is the totality of foreign trade of all countries. Does this mean that by summing up the indicators of foreign trade turnover of the states that form the world economy, we will obtain the value of international trade turnover? In other words, can we use the following formula to calculate this indicator:

It would be wrong to do so. The fact is that within the entire world economy, the exports of some countries simultaneously turn out to be the imports of others. This means that, using formula (1), we will inevitably encounter repeated counting. In order to avoid it, it is necessary to sum up only one type of foreign trade transactions for all countries - either exports or imports. Based on the above, we can draw a conclusion, the generalized expression of which will be the following formula:

International trade = World exports = World imports. (2)

Let's see how our theoretical calculations are confirmed by statistical data. The most authoritative institution in these matters is the World trade Organization(WTO) - determines the total volume of world merchandise exports in 2008 at 15,775 billion dollars, in 2012 - at 17,850 billion, and in 2014 - at 18,935 billion dollars. As for world merchandise imports, its value, according to the WTO, for the same years was, respectively, 16,120 billion, 18,155 billion and 19,024 billion dollars. A similar discrepancy occurs in the data for other years.

The inequality in the volumes of world exports and imports stems from differences in the logical basis of statistical estimates of foreign trade transactions. Accounting for export supplies is usually carried out in the so-called FOB prices (FOB; free on board - free [delivery] on board, “free on board”), which includes all costs associated with delivering the goods on board the vessel carrying it. For land transportation, the FOB price corresponds to the price of the goods on the condition “free - land border of the exporting country,” which also reflects the total cost of production and delivery of the goods directly to the border of the exporting country. As for import supplies, they are recorded, as a rule, in the so-called CIF prices (With IF; cost, insurance, freight - cost, insurance, freight), taking into account the costs of delivering the goods to the specified port of destination, i.e. including the costs of insuring the cargo in transit and its transportation (sea freight). The concept of CIF price for sea transportation corresponds to the concept of “free - border of the importing country” for land transportation.

In a certain sense, such a difference in the approach to determining the volumes of exports and imports seems completely logical. Indeed, from the point of view of the country participating in a foreign trade transaction, it is the crossing of the country’s customs border in one direction or the other that becomes the fact that determines the completion of the transaction.

Regarding our formula (2), we can measure the total volume of both exports and imports at the same prices - FOB, CIF or whatever. In this case, all indicators must match.

Commodity (sectoral) structure international (and equally foreign) trade shows us the ratio of various groups of goods in the total volume of relevant transactions. In this case, especially in relation to the foreign trade of individual countries, it is advisable to talk about both the commodity structure of exports and the commodity structure of imports. A comparison of these indicators allows us to draw a number of conclusions that characterize not only the foreign economic activity of a particular state, but also the general economic situation of the country.

The point is that at the level of specific national economies The commodity structure of exports and imports does not coincide, and in a number of cases differ fundamentally. For example, in 2012, mineral products accounted for 71.4% of Russian exports, and machinery, equipment and vehicles accounted for 5%. Same year specific gravity of these product groups in imports accounted for 2.4% and 49.9%, respectively. At the same time, in international trade in general, the commodity structure of exports and imports coincides.

The analysis of the dynamics of the commodity structure of foreign trade over a certain period is also of undoubted scientific and practical value. If we supplement it with a comparison with an analysis of the dynamics of the commodity structure of international trade performed on the same time base, we will be able to characterize the change in the competitive positions of a given national economy in the general system of the world economy.

Geographical structure international (and equally foreign) trade characterizes the share of individual countries and groups of states in the total volume of relevant sales and purchase transactions. At the level of the world economy, the ego allows us to identify those countries that account for the bulk of both exports and imports, and changes in the balance of forces between them. Thus, in 2014, according to the WTO, China carried out 12.4% of the total volume of commodity export operations in the world, the USA - 8.6%, Germany - 8.0%. In the same year, the Russian Federation accounted for only 2.6% of world merchandise exports. It should be borne in mind that the geographical structure of world exports and world imports differs from each other. In particular, in 2014, the share of China, the USA, Germany and Russia in global merchandise imports was 10.3%; 12.7%; 6.4% and 1.8% respectively. This is explained by the discrepancy between national indicators of the volumes of export and import transactions. The vast majority of countries have either a deficit or a surplus trade balance.

At the level of individual countries, the geographical structure of exports and imports also differs. Of course, theoretically one can imagine a situation where they coincide, but this is hardly applicable to real life. Analysis of these indicators, especially carried out in dynamics over a certain period of time, can give rise to serious thoughts and conclusions.

Indeed, isn’t it amazing that the share of the USSR and its successor the Russian Federation in the foreign trade turnover of Finland (for which the USSR was the largest trading partner in 1980-1987) has decreased since 1982-1983. until 1992 from 25.9 to 4.8%, moving Russia to sixth place in this indicator after Germany,

Sweden, Great Britain, USA and France? Apparently, we should seriously think about the fact that the share of CIS countries in the exports of the Russian Federation, which amounted to 25.1% in 1993, decreased by 2012 to 14.8%.

Franco (Italian franco - free) is a term denoting the condition of transfer of rights of the seller to the buyer of the product upon delivery, until which commercial costs for transportation and insurance of the product are borne by the seller.

Foreign trade activities: essence, types. Subjects of foreign trade activities. The essence and significance of foreign trade. Foreign trade operations. Economic potential of Russia's foreign trade. Directions of trade and economic cooperation in Russia.

Features of trade and economic relations between Russia and the CIS countries.Treaty on the Customs Union and Single Economic Space, main provisions. Agreement of the CIS countries “On the Customs Union”.Prospects for Russia's accession to the WTO.

Foreign trade activities: essence, types.

foreign trade activities(foreign economic activity) - a set of organizational-economic, production-economic and operational-commercial functions of export-oriented enterprises, taking into account the chosen foreign economic strategy, forms and methods of work in the foreign partner’s market.

In accordance with the legislation of the Russian Federation, the definition of foreign economic activity is understood as foreign trade, investment and other activities, including production cooperation, in the field of international exchange of goods, information, work, services, results of intellectual activity (rights to them).

Foreign economic activity is carried out at the level of production structures (firms, organizations, enterprises, associations, etc.) with complete independence in choosing a foreign market and a foreign partner, product range and assortment items for an export-import transaction, in determining the price and value of the contract, volume and delivery times and is part of their production and commercial activities with both domestic and foreign partners.

Foreign economic activity belongs to the market sphere, is based on the criteria of entrepreneurial activity, structural connections with production and is distinguished by legal autonomy and economic, as well as legal independence from sectoral departmental supervision.

Foreign economic activity is a business activity aimed at making a profit, which includes the following areas: Foreign trade, technical and economic cooperation, scientific, technical and production cooperation.

The following types of foreign economic activity are distinguished:

foreign trade activities;

international division of labor;

production cooperation;

international investment cooperation;

currency and financial and credit operations;

relations with international organizations.

Foreign trade activities- is entrepreneurship in the field of international exchange of goods, works, services, information and results of intellectual activity.

The prerequisites and conditions for the international division of labor on a significant scale arose in the era of the development of capitalism thanks to the industrial revolution, the emergence of machine industry, and specialization of production. The demand for certain types of goods in various countries that could not extract and produce them in sufficient quantities stimulated the development of foreign trade in scarce goods. Trade and the benefits derived from it encouraged countries to expand the production of such goods, as a result of which labor in these countries was concentrated on the production of certain types of economic product.

Industrial cooperation as part of the foreign economic activity of enterprises and firms, it also represents one of the forms of cooperation between foreign partners in different, but structurally interconnected processes of technological division of labor. The technological process of division of labor itself means the distribution of its participants in the chain of creation and sale of products according to its main phases, from studying the needs in domestic and foreign markets to bringing it to final consumers. Industrial cooperation is typical for homogeneous spheres of production and circulation, for scientific, technical, investment and service areas, for example, for the manufacturing industry.

Coordination of partners’ actions within the framework of production cooperation is achieved by:

mutual planning of export and import-substituting products;

forecasting and joint conduct of scientific developments, providing them with the necessary equipment, devices and materials, test benches and scientific and technical information;

organizing the personnel training process.

International investment cooperation involves one of the forms of interaction with foreign partners based on combining efforts of a financial and logistical nature. The goals of such cooperation are to expand the base for the development and production of export products, their systematic updating based on competitiveness criteria and facilitating the processes of their sale on the foreign market. Such problems can be solved through organization, for example, joint production. Joint entrepreneurship is possible primarily on the basis of the exchange of technologies, services with the subsequent distribution of production programs and its implementation, as well as in the form of the formation and functioning of concessions, consortia, joint-stock companies, international non-governmental organizations, etc.

Currency and financial and credit operations as a type of foreign trade activity, enterprises and firms should be considered primarily as facilitators accompanying any foreign trade transaction in the form of financial obligations associated with ensuring payment for delivered products through specific forms of payment, as well as foreign exchange transactions committed in order to avoid exchange rate losses.

An important sector of the foreign economic complex is participation in international organizations, whether governmental or non-governmental. In modern international relations, international organizations play a significant role as a form of cooperation between states and multilateral diplomacy. An interstate organization is characterized by the following features: membership of states; presence of constituent international treaty; permanent organs; respect sovereignty, Member States. Taking these features into account, it can be stated that an international intergovernmental organization is an association of states established on the basis of an international treaty to achieve common goals, has permanent bodies and acts in the common interests of member states while respecting their sovereignty.

The main types of foreign trade activities are also:

export and import of goods, capital and labor

provision of services to foreign entities by participants in foreign trade activities economic activity, including production, freight forwarding, insurance, consulting, marketing, intermediary, brokerage, agency, consignment, management, auditing, legal, tourism, etc.

scientific, scientific-technical, scientific-production, production and other cooperation with foreign economic entities.

education and training of specialists on a commercial basis through concluding agreements with foreign economic entities

international financial transactions (transactions with securities)

creation of enterprises by foreign economic entities on the territory of the Russian Federation

joint business activities between Russian foreign economic activity participants and foreign economic entities. Activities, including the creation of enterprises of all forms of ownership and types of body-rights

activities in the Russian Federation related to the provision of licenses, patents, know-how, trademarks and other intangible property of foreign economic entities with Russian participants in foreign trade activities

organization and holding of exhibitions, auctions, conferences, seminars and other similar events carried out on a commercial basis with the participation of foreign trade entities

Concessions for foreign legal entities and individuals

operations for processing customer-supplied raw materials (tolling)

commodity exchange transactions, forms of countertrade, cooperation on a compensation basis, production sharing agreements between Russian participants in foreign economic activity and business entities

rental operations, incl. leasing between Russian and foreign economic entities

Subjects of foreign trade activities.

Subjects of foreign trade activities are individuals; legal entities and other legally capable organizations; public entities, including states; international organizations. Individuals such as citizens (citizens of the Russian Federation), foreign citizens and stateless persons can act as subjects of foreign economic activity. To carry out foreign economic transactions with foreign citizens and stateless persons, it is important for Russian entrepreneurs to know whether these persons have the right to assume obligations under the transaction (be a party to the transaction), since the achievement of the economic result that entrepreneurs set for themselves when concluding an agreement depends on this. Foreign citizens and stateless persons can enter into various transactions for the purpose of PD. In some cases, the parties to foreign economic activity are entrepreneurs. For example, when concluding an agreement for the international purchase and sale of goods, the parties to the agreement must be entrepreneurs, while an insurance agreement can be concluded by a Russian insurer with foreign citizens and stateless persons, who may or may not be entrepreneurs.

The essence and significance of foreign trade

International trade - This is the exchange of goods and services between state-registered national economies or their representatives.

International trade is a set of export-import operations of a separate country. This is trade of one country with subjects of the world economy.

International trade is an important and historically first form of international economic relations. Currently, all subjects of the world economy are participating in it.

Main factors for the development of international trade :

international division of labor, specialization of countries in the production and trade of certain goods and services;

development of commodity production and market economy;

scientific and technological revolution, which accelerated the qualitative transformation of all elements of the productive forces and shifts in the geographical and commodity structure of world flows of goods and services.

The role of international trade in the development of world economic relations:

partial resolution of the contradiction between production and consumption inherent in a market economy. However, not being fully resolved through the export-import of goods, these contradictions are transferred to the sphere of world economic relations, which is expressed in intense competition between international trade entities;

participation in international trade leads to the intensification of the reproduction process in national economies in a number of areas: specialization is enhanced, the possibility of organizing mass production is created, the degree of equipment utilization increases, the efficiency of new equipment and technology increases;

expansion of exports causes an increase in employment, which has important social consequences;

active participation in international trade creates conditions for accelerating progressive structural changes in national economies. For many developing countries (especially Asian ones), export growth has become an important basis for industrialization and increased economic growth. Expanding exports allows for the mobilization and more efficient use of natural resources and labor, which ultimately contributes to increased productivity and income;

At the same time, the increase in foreign trade exchange and the growing role of exports and imports in national economies contribute to the synchronization of the economic cycle in the world economy. The interconnection and interdependence of national economies is increasing so much that a disruption in the functioning of the economy of any major participant in the world market will inevitably entail international consequences, including the spread of crisis phenomena to other countries.

Foreign trade operations

Export - export abroad of goods of national origin or largely processed in the country for the purpose of their sale.

Import - import of foreign goods for the purpose of their use in the domestic market.

Export-import transactions are the most common in international trade.

Countertrade- foreign trade transactions, during which the documents (agreements or contracts) record the firm obligations of exporters and importers to carry out a full or partially balanced exchange of goods. In the latter case, the difference in cost is covered by cash payments.

This is the most famous type of international trade, which previously consisted of the natural exchange of goods. Countertrade, which was subsequently supplanted by commodity-money relations, in modern conditions has acquired a new content and has received a certain development in international commodity exchange. It accounts for 25 to 30% of international trade volume.

The initiators of the development of countertrade are importers, who, in conditions of shortage of foreign currency, can purchase necessary goods with full or partial payment for their supplies of their goods. In conditions of aggravation of the sales problem, exporters are forced to receive from the buyer not the monetary equivalent of their value, but other goods that they either use in their own production or sell on the market. One of the features of countertrade is the expansion of the practice of counterpurchases by exporters of goods that cannot be used by them in their own production, but are intended in advance for subsequent sale on the foreign or domestic market.

UN experts identify three main types of international counter transactions:

barter transactions;

commercial compensation transactions;

industrial compensation transactions.

An industrial offset transaction is a transaction in which one party supplies (often also agreeing on the necessary financing) to a second party goods, services and/or technology that the latter uses to create new production capacity. These supplies are then offset by supplies of goods produced in the plants thus established (or sometimes by supplies of similar goods produced by third parties in the country). In a trade compensation transaction, as a rule, there is no such relationship between the mutual specific actions of both parties.

Experts from the Organization for Economic Co-operation and Development (OECD) divide all international counter transactions into two categories:

trade compensation;

industrial compensation.

Under trade compensation refers to a single transaction of a small or moderate amount, including the exchange of extremely dissimilar goods that are usually not organically related to each other.

Under industrial compensation refers to those transactions that involve the sale of related goods for a larger amount, usually corresponding to the cost of complete industrial equipment or finished plants.

commodity exchange and compensation transactions on a non-currency basis;

compensation transactions on a commercial basis;

compensation transactions based on industrial cooperation agreements.

Types of international counter transactions

1. Commodity exchange and compensation transactions on a non-currency basis

2. Compensation transactions on a commercial basis

3. Compensation transactions based on industrial cooperation agreements

These three main types of transactions are very diverse in terms of their goals and nature, timing of execution, settlement mechanism, and implementation procedure.

Transactions based on natural exchange - barter. Barter transactions are the most traditional type of countertrade, representing a non-currency but valued exchange of goods. Valuation of goods is carried out to ensure equivalence of exchange. These transactions are characterized by the presence of a contract, which fixes the natural volumes of goods exchanged, and the simultaneous movement of commodity flows. The quantity of goods is not affected by changes in price proportions on the world market. Pure barter is the least common type of countertrade.

Commercial transactions involving the participation of the seller in the sale of goods. This is the most common group of operations, which has two varieties:

direct purchase of goods for internal use or for resale to a third party;

assistance to the exporter in finding a buyer for the importer's goods.

The fundamental difference between this type of transaction and barter is that it uses money as a measure of value and a means of payment. Such transactions can be formalized legally either by one export contract specifying the terms of countertrade, or by two contracts for primary export and counterexport. In the latter case, the first export contract contains the exporter's obligation to purchase goods from the importer in an amount equal to a certain percentage of the original supply.

There are many types of transactions in this group, for example: compensation transactions. The seller agrees to be paid in part or in whole by delivery of any goods of the buyer. As a rule, this is formalized in one contract. Such transactions resemble barter, but have some significant differences. First, each partner invoices their supplies in cash. Secondly, the exporter can entrust the fulfillment of its counter-import obligations to a third party. With this form of transaction, you can receive revenue at the same time;

counter purchases (counter deliveries). The exporter undertakes to purchase or arrange for the purchase by a third party of the importer's goods in an amount equal to a certain, pre-agreed percentage of its own supplies. These transactions are formalized by two contracts, and sometimes specific goods are not specified, but the terms and amount of the purchase are fixed. Payments under the contract are made simultaneously;

advance purchases. In this case, the initial and counter deliveries seem to change places, that is, the party interested in selling its goods to a specific buyer first purchases any goods or services from him;

offset agreement. The exporter agrees to purchase goods in the importer's country for an amount that is a certain proportion of the amount of the export supply, and this share most often exceeds 100%. Deals of this kind are typically associated with expensive weapons and military equipment procurement programs;

switch type transactions. In this case, the exporter transfers its counter-delivery obligations to a third party, usually a specialized trading company. Such operations are used in combination with any other forms other than barter;

repurchase of obsolete products, i.e., offsetting the residual value of purchased goods at the price of new ones. This form of trade is one of the most effective ways to increase sales in conditions of fierce competition in sales markets, and is most widely used in the sale of passenger cars, agricultural machinery, electronic computers, etc. Thus, in industrialized countries, trading Representatives of almost all automobile companies, when a client purchases a new car, deduct the price of the old one from its cost. There are approximately the same tables for all companies estimating the cost of old cars depending on the year of manufacture, mileage and technical condition. In Western Europe in the late 80s. more than 70% of new passenger cars were sold when obsolete models were bought back:

Counter deliveries as an integral part of industrial cooperation, For example compensatory supplies(buy-back). The exporter supplies equipment on credit terms, and payment of the provided loans must be made after receiving proceeds from counter deliveries of products. Under such agreements, machinery, equipment, materials and some other types of goods for the construction of industrial facilities are imported on credit terms. Subsequently, foreign exchange earnings from the export of part of the products of these enterprises serve as a source of loan repayment.

This group may also include:

operations with customer-supplied raw materials, i.e. processing of foreign raw materials with payments for work using raw materials or processed products. As a result of the uneven development of productive forces, different countries have asymmetrical capacities for the extraction and processing of raw materials, which will create the preconditions for the conclusion of international contracts, according to which one of the parties undertakes to export raw materials and import processed products or finished products, the other - to process raw materials, called tolling , by your own means. Payment for the services of processing companies under such agreements is carried out by supplying additional quantities of customer-provided raw materials.

Economic potential of Russia's foreign trade

The uniqueness of Russia's potential

There are many countries in the world, the assessment of which often depends on subjective factors and may change over time. This provision is not applicable to the potential of Russia, size, territory, diversity climatic zones and landscape, as well as population, throughout most of the twentieth century. consistently received the highest ratings from almost all world experts

Based on a population with European traditions, Russia is a unique Eurasian state, occupying a significant part of the territory of both Europe and Asia. Russia's unique location gives the country the potential to play an active role in these two parts of the world. From a geographical point of view, quite economically profitable air and land routes connecting Europe, Central and Southeast Asia can pass through the territory of Russia.

At the same time, the enormous territorial extent of Russia does not allow an unambiguous approach to assessing its geographic potential. On the one hand, geographic potential makes it possible to powerfully develop the domestic market and national economy of the country, relying exclusively on the Russian regions’ own capabilities and resources. On the other hand, even Russia’s widespread involvement in global transport inevitably raises the question of bringing transport infrastructure up to world standards, which is difficult to achieve without the country’s overall socio-economic progress, which will help reduce the cost of transport services and increase the degree of their economic and environmental safety and reliability of operation.

An analysis of Russia’s place in global agricultural and industrial production suggests that even now the possibility of gradually transforming the country into an agricultural, raw materials and fuel and energy appendage of industrial developed countries The West is by no means removed from the agenda: 1st place - natural gas; 2nd place - brown coal, potatoes, milk; 3rd place - oil, sulfuric acid(in monohydrate); 4th place - electricity, cast iron, steel, iron ore, removal of industrial wood, cotton fabrics, grain and leguminous crops, sugar beets; 5th place - finished rolled ferrous metals, lumber, mineral fertilizers; 6th place - coal, cellulose, meat (in slaughter weight), animal oil; 8th place - hosiery, fish catch; 11th place - cars, cement; 12th place - woolen fabrics, shoes; 14th place - paper and cardboard, granulated sugar (from domestic raw materials), vegetable oil.

The core of Russia's economic potential is its people. In terms of population, Russia ranks 9th in the world. The level of education and professional training of Russian citizens is such that they are capable, as recognized by foreign partners from various countries, of solving any technical and economic problems, adapt to different conditions industrial and commercial activities. The higher education system in the country continues to prepare reliable and promising personnel in modern trends development of human society in line with global trends. One of the proofs of the high professional level of Russian specialists in the field of natural sciences is the high demand for them in almost all developed countries. IN last years More and more Russian citizens with education and work experience in the field of management, marketing, and finance are invited to firms in different countries operating in the Russian markets or with Russian partners.

At the same time, the country has not yet found a mechanism for the most efficient use of human resources. In general, the problem of the efficiency of their use sharply worsened in the 90s, as Russia began to lose many billions of dollars on the “drain of human capital” from the country, i.e. it faced a problem that had previously been considered unique to developing countries. A generally favorable background for solving this problem can be the establishment in the country of an appropriate social climate, characteristic of societies with developed economies.

Rich natural energy potential provides Russia with a very advantageous position. It remains the only major world power that fully meets its energy needs from its own resources. In terms of mineral fuel reserves per capita, Russia is ahead of all large industrialized countries. In these conditions, trade in energy resources and mineral raw materials is still the main real profile of the country’s specialization in the international division of labor, and this can be assessed not so much as a weakness, but as an important temporary strategic advantage from national and global points of view.

The role of the fuel and energy complex (FEC) in the development of the world economy is not decreasing, but increasing. The modern economy, despite the intensive introduction of energy-saving technologies, continues to steadily increase the scale of public and individual energy needs. According to experts, the volume of world production and consumption of primary energy carriers at the beginning of the 21st century. will exceed 10 billion conventional tons. At the same time, 75% of consumption will occur in developed countries, where only one sixth of the world's population lives.

Developed countries are playing an increasingly significant role in Russian foreign trade. Although Russia is traditionally “tied” to the economies of the CIS countries, its foreign trade turned out to be oriented towards the EU countries, North America and, in general, states with developed market economies. This orientation is largely explained by the content side of export-import operations. The fact is that the predominant items of Russian exports are still energy resources and unprocessed metal products.

The role of the CIS countries remains geographically important, but is not economically stable. Meanwhile, from the point of view of a strategic perspective, maintaining its closest neighbors as the most important partners cannot but become an important stabilizing factor both for Russia and for other CIS countries.

One of the most important conditions for the development of a national market economy is a stable financial system of the country. Any failures in the financial system immediately affect the entire economy. The degree of openness of the national economy and the level of its involvement in world economic relations can be easily traced primarily through the financial system. Therefore, the influence of certain events in the world economy on internal economic processes also occurs directly through the financial system. In a short period of time in Russia, simultaneously with the process of privatization of state property, a banking system was created on the basis of joint-stock commercial banks headed by the Bank of the Russian Federation. Banks and other financial institutions have become active participants in the development of a market economy in Russia. Gradually, a stock market emerged. Stock Russian companies began to be traded not only on Russian, but also on foreign stock exchanges. The latter became possible, in particular, due to the fact that the foreign exchange market started working and the Russian ruble was freely convertible throughout the country and the CIS. Russia entered the global capital market, and foreign investors began to actively purchase securities of Russian companies and banks. A significant share of the stock market was occupied by various government securities, which were especially popular among both domestic and foreign investors. foreign participants market, since they were characterized by high profitability and the lowest risk.

Belarusian State University

Faculty of Humanities

Essay

on the topic of: International trade: types and mechanisms

Introduction

1. Essence and the most important characteristics international and foreign trade

2. Types of world trade and its mechanisms

3. International trade in services

4. International trade in goods

Conclusion

Bibliography

Introduction

International trade is one of the most developed and traditional forms of international economic relations. It originated in ancient times - international trade itself began to take place with the formation of the first national states in the 4th - 3rd millennia BC.

However, at that time only a small part of the production entered into international exchange, since the dominant form of economy was subsistence farming.

Since the 80s. XX century The development of international trade is closely related to the globalization of the economy, when the markets of individual countries essentially “merge.” This occurs most intensively within the framework of integration groupings, customs, trade and economic unions, where administrative and economic barriers between countries are reduced or completely eliminated.

Electronic commerce (e-commerce, electronic commerce) occupies an increasingly significant place in modern international trade. Electronic commerce is based on the use of the capabilities of modern computer systems to carry out transactions for the sale of goods and services and the transfer of financial resources.

A significant impact on the development of international trade is exerted by the activities of TNCs, which form their own internal (“internal”) markets, determine within their framework market conditions, the scale and direction of commodity flows, prices for goods (transfer prices occupy a special place here) and the overall development strategy such markets. Since modern international trade involves many different subjects of international economic relations (from TNCs with global strategies and global scale of trade to individual individuals (“shuttles”)), whose economic interests often do not coincide, then, in general, intense competition is characteristic.

International commodity flows in general are becoming enormous and cover all regions of the world. In 2003, international trade in goods (together with international trade in services) continues to occupy a central place in the general system of international economic relations at the beginning of the 21st century. Indeed, the population of all countries of the modern world, without exception, is connected in one way or another with international trade. In the sphere of international trade, the economic interests of its participants are realized - individual states, their groupings and unions, corporate business different levels- from small enterprises to super-large TNCs participating in international trade of individuals (individuals). At the same time, when carrying out foreign trade operations, these subjects of international economic relations are included in complex and highly contradictory processes of international competition.

The efficiency or ineffectiveness of foreign trade, the openness or, conversely, the closedness of national economic systems have a very contradictory impact on economic entities and on the population of different countries of the world. For example, the liberalization of foreign economic relations and the growing openness of the national economy lead to the fact that cheap competitive imported goods enter the country in significant quantities, but this can lead to the closure of domestic enterprises producing similar products, an increase in unemployment in the country, etc.

International trade in goods consists of two oppositely directed flows - export and import of goods.

Export is the export of goods abroad for their sale on the foreign market. Import - import of goods for sale on the domestic market. Re-export is the export of previously imported goods that have not been processed in a given country. Re-import is the return import of unprocessed domestic goods from abroad into the country. The fact of export and import is recorded at the moment of crossing the customs border and is reflected in the customs and foreign trade statistics of the state.

When assessing the scale of international trade, a distinction is made between the concepts of nominal and real volume of international trade. The first of these (nominal volume) is the value of international trade expressed in US dollars at current prices. Therefore, the nominal volume of international trade depends on the state and dynamics of the exchange rate of the dollar to national currencies. The real volume of international trade is its nominal volume converted into constant prices using the selected deflator.

The nominal volume of international trade, despite some deviations in some years, generally has a general upward trend.

In addition to export and import indicators, foreign trade statistics use the foreign trade balance indicator, which is the cost difference between exports and imports. The balance can be positive (active) or negative (passive), depending on whether exports exceed imports or, conversely, imports exceed exports (accordingly, there are concepts of active and passive foreign trade balance). The countries of the world are interested in the foreign trade balance being positive and its scale growing, since this indicates an active foreign trade policy, foreign exchange earnings into the country are growing, and thereby creating the preconditions for economic growth within the country.

1. The essence and most important characteristics of international and foreign trade

When defining international trade, it should be remembered that it, like other elements of the system of international economic relations, is a very complex and multifaceted phenomenon, therefore there are many definitions of it. Here is one of the most generally accepted: international trade is the totality of foreign trade of all countries in the world. Foreign trade is the trade of a given country with other countries, consisting of the export (export) and import (import) of goods, works, and services. Foreign and international trade are similar concepts. The same commodity transaction between two states can be considered from both external and international trade. Both of them are associated with the sphere of international circulation, with acts of purchase and sale. The development of these categories is determined by the processes of the production sphere. However, these concepts are far from unambiguous. Foreign and international trade relate to each other as private and general, as national and international. When they talk about foreign trade, they mean a specific sector of the economy of a particular state associated with the sale of part of national products (goods and services) on foreign markets and part of foreign goods and services on the first national market. Foreign trade is regulated primarily by national government agencies and is associated with such categories as the trade balance and national economic policy.

International trade is a specific area that unites foreign trade sectors of national economies. However, this is not a purely mechanical, but an organic unity, which has its own patterns of development and special regulatory bodies. International trade is associated with the international division of labor and the international market.

Foreign trade is the most important sphere of activity of any state. Without foreign trade and the foreign market, no state can exist and develop. At the present stage, when individual countries have become links in the international economy, their economies are more dependent than ever on the foreign market. In connection with the deepening of international specialization and cooperation, the growth of internationalization of economic life, under the influence of the scientific and technological revolution (STR), foreign trade is becoming an increasingly important factor in economic development, a factor in the interaction and cooperation of states.

International trade is one of the forms of international economic relations (IER), YAG

As is known, the most important forms of IEO are:

International trade;

International monetary and financial relations;

International scientific, technical and industrial cooperation;

International labor migration;

International capital migration and international investment;

International economic integration.

All these forms are closely related and interact with each other, but, of course, the main, main and leading form is international trade. It mediates other forms, a significant part of which is realized through it. In particular, the development of international specialization and cooperation in production, international scientific and technical cooperation is reflected in the expansion of the exchange of goods and services between countries. The relationship and interdependence of international trade and international investment activity are very close. Foreign investments, primarily direct ones, carried out by manufacturing companies, as a rule, stimulate the development of export production in capital-recipient countries and thus contribute to the expansion and increase in global trade volumes.

Regional integration groupings and associations (for example, the EU, NAFTA, CIS, APEC) influence the commodity and geographical structure of international trade and contribute to its development mainly within the framework of these associations. At the same time, they often impede the development of transcontinental trade flows and sometimes hinder the processes of globalization of the world economy.

IN general view the impact of international trade on world economy and international economic relations is as follows:

The growth of foreign trade exchange between countries leads to the fact that the interconnection and interdependence of the economic complexes of individual countries is increasing so much that disruptions in the functioning of the economy of any state can lead to Negative consequences for the development of national economies in other countries of the world;

Through international trade, the results of all forms of world economic relations are realized - the export of capital, international scientific, technical and industrial cooperation;

♦ deepening interregional, intraregional and interstate trade relations is a prerequisite and incentive for international economic integration;

♦ international trade contributes to the further deepening of the international division of labor and the globalization of the world economy.

Thus, at the present stage, international trade plays important role in the development of both the world economy and the IEO as a whole, and individual subjects of the world economy, being, on the one hand, a powerful factor in economic growth, and on the other, a factor in increasing the interdependence of countries.

2. Types of world trade and its mechanisms

· trade in goods:

Food and non-food raw materials;

Mineral raw materials;

Finished products;

trade in services:

Engineering services;

Leasing services;

Information and consulting services;

· trade in licenses and know-how;

Countertrade:

Transactions based on natural exchange:

* barter transactions;

* operations with customer-supplied raw materials - tolling;

Commercial transactions:

* counter purchases;

* buyback/purchase of outdated products;

* commercial compensation transactions and

* advance purchases;

Trade within the framework of industrial cooperation or cooperation products

* compensation transactions;

* counter deliveries.

International trade is carried out through the conclusion of international transactions and agreements.

Trading can be carried out on exchanges, auctions and trades.

Exchanges: real transactions, speculative or urgent and with cash goods.

Auctions: upward and downward.

Bargaining: open, open with qualification and closed (tenders).

To characterize the state and development of MT, the following indicators are used:

Cost and physical volume of trade turnover;

General commodity and geographical structure of world trade turnover;

Level of specialization and industrialization of exports;

Elasticity coefficients of MT, exports, imports and terms of trade;

Export and import quotas;

Trade balance.

The development of MT is accompanied by an increase in global wealth. Since the end of the Second World War, international exchange has been one of the main drivers of economic growth. Since the beginning of the 90s, the growth dynamics of MT have doubled the growth in global production volumes. The movement of goods and services between individual countries is linked in the system single market national markets and, accordingly, strengthens the economic interdependence of countries. This indicates the progressive integration of economies on a global scale and determines the objective prerequisites for strengthening the role of MT in the world economy and international economic relations.

3. International trade in services

Services are a set of diverse activities and commercial activities related to satisfying a wide range of people's needs. The reference book “Liberalization of International Transactions in Services” developed by UNTCAD and the World Bank provides the following definition of services: services are a change in the position of an institutional unit that occurs as a result of actions and on the basis of a mutual agreement with another institutional unit.

It is easy to see that this is an extremely broad definition, covering a diverse range of operations. Therefore, we can distinguish between the concept of services in the broad and narrow sense of the word. In a broad sense, services are a set of various activities and commercial activities of a person through which he communicates with other people. In a narrow sense, servants mean specific actions and events that one party (partner) can offer to the other party.

Although services are traditionally considered as the so-called “tertiary sector” of the economy, they currently account for 2/3 of global GDP. They absolutely predominate in the economy of the USA (75% of GDP) and other industrialized countries (within 2/3 - 3/4 of GDP), as well as in most developing countries and countries with economies in transition. The share of services in the Russian Federation's GDP in 2002 was 52%.

Services have a number of significant differences from goods in their material terms:

1) they are usually intangible. This intangibility and “invisibility” of most types of services is often the basis for calling foreign trade in them invisible exports and imports;

2) services are inseparable from their source;

3) their production and consumption are, as a rule, inseparable;

4) they are characterized by inconsistency of quality, variability and unstorability.

The number of services and their role in the economy and international trade is growing rapidly, primarily as a result of scientific and technical progress, the growth of international economic relations in general, and increasing incomes and solvency of the population in many countries of the world. Since services are heterogeneous, there are several classifications.

The classification of services, based on the International Standardized Industrial Classification adopted by the United Nations, includes:

1) utilities and construction;

2) wholesale and retail trade, restaurants and hotels;

3) transportation, storage and communications, as well as financial intermediation;

4) defense and mandatory social services;

5) education, health and public Works;

6) other communal, social and personal services. Most of services under this classification are produced and consumed within the country and cannot be subject to international trade.

The IMF classification used in compiling the balance of payments includes the following types of services related to payments between residents and non-residents: 1) transport; 2) trips; 3) communication; 4) construction; 5) insurance; b) financial services; 7) computer and information services; 8) royalties and license payments; 9) other business services; 10) personal, cultural and recreational services; 11) government services.

International trade in information products. The products of intellectual and creative labor form their own special market - the market of intangible goods - ideas, artistic insights, scientific discoveries, knowledge, inventions, new technologies, production experience, etc. All these diverse products are usually embodied in specific material products - patents, plays, melodies, models, drawings, calculations, etc., which distinguishes this market from a very a similar service market, where there is no material embodiment of the product.

Unlike natural resources, information goods as intangible products of labor do not have physical wear and tear, are inexhaustible and capable of self-reproduction, such as knowledge, which is capable of being reproduced and increased in the process of its productive consumption by creative people. The main property of intellectual resources, which ensures their active use in production, is the ability to be replicated, i.e. they can be used on any scale.

The information services market is developing most dynamically. The increase in demand for information is caused by the general complication of the management structure of companies and the need for them to make reasoned decisions based on forecast information. The information market includes all types of information, including business, legal, environmental, medical, and consumer information.

The market covers a group of goods having legitimate protection exclusive rights of the owner, confirmed official documents(patents, copyright registration certificates, industrial property). This applies primarily to such labor products as inventions. The exclusive rights of the author (inventor) are confirmed and secured by a state patent, based only on the registered priority in the filing deadlines. This also includes new engineering solutions and industrial developments, samples, models, designs, confirmed by copyright registration certificates. Alienation of rights is fully or partially formalized by a license - a document confirming the assignment of rights and fixing the scope of transferred rights and the conditions for their use.

The second group is formed legally "unprotected" products of activity that are distinguished by originality, but do not have formal grounds for recognition of their exclusivity. Accumulated production experience, interesting design and technological solutions, which, however, do not have sufficient indications inventions are unique goods, the information insecurity of which is fraught with gratuitous copying of the idea. Any violation of confidentiality violates the exclusivity of the product and reduces its price.

International currency market. The foreign exchange market is a collection of funds that operate separately from national money markets. Currency is bought by exporters and importers, banks and financial companies, hedgers and speculators.

The specificity of currency as a commodity is that its consumer value is determined not by the physical qualities of money as an object of transaction, but by the ability to provide the owner with income and the receipt of certain benefits. Money is a title, a debt obligation of the state (the issuer of money) to provide its owner with a set of benefits. The change in the price of currency as a title of government obligation is associated with differences in the assessments by world market participants of the expected real value of these nominal obligations.

The dynamics of market prices for a commodity such as currency are determined not by objective shifts in the level of their costs (as the basis of value), but by fluctuations in the subjective assessments of the expectations of market participants themselves. And the source of income for currency owners is another market participant. In speculative trade, there is mainly a multiple redistribution of existing, rather than newly created, value, as provided for in the classical model of international commodity exchange for markets of physical goods.

The object of trade transactions are funds in accounts and national bank deposits that are acquired by foreigners and placed outside the country issuing the national currency. Since the lending instrument is, as a rule, deposits in Eurocurrencies, they have become a financial instrument in Lately one of the most important objects of foreign exchange trade.

International securities trading. The global securities market is a rather fragmented system of interaction between sellers and buyers in relation to documents establishing property rights that are different in form and content. The transfer of these rights is complicated by the peculiarities of national laws regulating the rights to property, real estate, money, the possibility of exporting currency values ​​and capital abroad, the acquisition of rights to real estate by foreigners, etc. In addition, the variety of forms of such papers and the ambiguity of terminology have an impact. Even with regard to money (currencies), goods that are sufficiently standardized and secured by the authority of the state, procedural and technical difficulties arise in international trade. With regard to financial assets (i.e., securities that are the subject of trading), the situation becomes much more complicated.

The world market limits trading operations only certain types securities whose format has been unified. This market includes:

Debt obligations (including bills, bonds, receipts payable, warrants);

Titles of property (including shares, shares, warehouse receipts, delivery notes, depositary receipts, bills of lading, certificates of deposit);

Rights of claim (documents on assignment, forfaiting, receivables assets, writs of execution arbitration courts, prepaid products, checks, credit rights);

Financial derivatives (options and swaps);

Bank financial guarantees as a tradable asset.

The most developed markets bonds and shares. On the bond market, the issuer's debt obligations are sold to pay the face value of the bond sold on time and pay, in addition, interest for the use of borrowed money during this period. A bond is essentially an IOU to receive money, attracting the lender, usually more high percentage income, which is designed to compensate for the risk. The market value of bonds is calculated quite simply - based on the equivalent amount of capital, which ensures, at the deposit rate in effect at the time of purchase (or sale) of the bond, the receipt of the same income that the sold (or purchased) bond provides.

In the stock market, we are talking about the title of ownership of property, which should grow due to the business activities of the issuer. The shareholder's income - the amount of dividends - depends on the success of the business.

4. International trade in goods

The variety of world trade goods is growing rapidly, which is greatly facilitated by scientific and technological progress and competition. Each product, each trade transaction is unique in its own way and requires the use of forms and methods that are adequate to the nature of the product when conducting any transaction.

It is advisable to consider five more or less homogeneous groups of goods for which differences in the mechanism of international trade are most noticeable and which form world markets that are quite different in their characteristics: the market for traditional physical goods, the market for services, products of intellectual and creative labor, as well as currency and financial assets.

Market of physical goods. Material products constitute the traditional nomenclature of international trade turnover and international statistics of world trade.

Until the end of the twentieth century, the structure of world economic commodity flows generally corresponded to sectoral structure gross product. Its changes reflected, as already noted, the general trends in the economic development of countries and the introduction of scientific and technical innovations into social production.

The main item in the global turnover of material products is finished products, the share of which even in exports from developing countries (mainly due to Asian exporters) increased from 19% in 1980 to 70% by 2005. In exports of material products from developed countries the share of such finished industrial products increased to 80%.

Increase finished products in global trade turnover is carried out at the expense of machinery, equipment, and vehicles. Trade in semi-finished products, intermediate products, and individual final consumption goods is expanding, the share of which accounts for almost a third of world imports, and in trade in machinery, equipment and vehicles- about 40%.

Commodities constitute a significant part of the product range. They cover large groups agricultural products, where grains and food occupy an important place. In analytical assessments of the economic situation of countries, the volumes of imports of these particular goods usually characterize the foreign economic dependence and vulnerability of countries from external supplies.

Over the twenty-fifth anniversary (since 1980), the share of food in the exports of developed countries, which were considered the main suppliers of these products to the world market, decreased by "/3 and amounted to 7.6%; developing countries - by 30% and amounted to 8.4% of countries Central and Eastern Europe (CEE) - by 14% and accounted for 9.1% in the exports of these countries.The share of agricultural raw materials, metals and ores, and fuels in global exports decreased significantly.

Modern economics depends less and less on the vicissitudes of the natural uneven distribution of natural resources, and their role in world trade naturally declines. The exception, perhaps, is mineral fuels, the share of which in world trade is not only not declining, but growing. The elasticity coefficient of fuel consumption in relation to industrial output is close to 1 (unity), which means that the demand for fuel will grow in proportion to the growth of industrial production.

The main changes in commodity trade in the context of globalization of world trade have affected the forms of trade transactions. The commodity market, historically one of the earliest markets in world trade, is monopolized for most goods due to the direct dependence of prices on available reserves and mining conditions, climatic conditions for growing agricultural products, which, in turn, are caused by the natural uneven distribution of favorable conditions. natural conditions and minerals.

As the consumption of raw materials decreased, trade relations based on long-term contracts between producers and consumers of raw materials began to lose their stability. Competition between suppliers of raw materials and the fickleness of buyers led to the inclusion of intermediaries in trade operations and the transition to trading through auctions and commodity exchanges. Conducting trade transactions with the participation of international auctions and exchanges reduces risks, since these reputable participants act as guarantors of the reliability of trading operations in a relatively unstable and declining commodity market.

Industrial goods market. According to international statistics the share of finished industrial products and semi-finished products in world exports of material products increased from 55% in 1960 to 75% by 2005. The most dynamically developing group of goods in the 90s in the exports of developed countries, and accordingly in world exports , steel office and telecommunications equipment, automation equipment.

Among the leading exporters of industrial products are 15 countries from the group of developing countries, including 11 Asian ones. This (according to UN statistics) includes Bangladesh, India, China, Malaysia, Pakistan, Thailand, the Philippines, as well as Brazil, Israel, and Mexico. This also includes, naturally, the newly industrialized countries. South-East Asia- Hong Kong, Singapore, Taiwan, South Korea.

In the production of industrial products, in contrast to raw materials, the importance of natural resources is noticeably reduced, giving way to the leading role of production factors such as equipment and technology. And these are factors that, in principle, can be located in almost any country and that are capable of ensuring production regardless of the availability of natural resources. The country's competitive advantage is based not on the uneven distribution of scarce natural goods, but on the country's ability to concentrate and intelligently organize production resources that are, in principle, unlimited.

The market for industrial products, unlike the market for raw materials, is much more fragmented. The diversity and uniqueness of industrial products exclude the possibility of using exchanges or auctions even for the simplest products. It's not just a matter of manufacturing quality, but primarily the incomparability of many technical parameters. The use of a foreign product requires technological and organizational adaptation of many parts of the production system. The conditions for consumption of an industrial product significantly change the assessment of the market value of this product.

Bibliography

1. Kokushkina I.V., Voronin M.S. International trade and world markets: Tutorial. – St. Petersburg: Technical book, 2007. – 592 p.

2. International economic relations: Textbook / Ed. B.M. Smitienko. – M.: INFRA-M, 2005. – 512 p.

3. International economic relations. Ed. Rybalkina V.E. - M., 2001

Forms of foreign trade of foreign economic activity subjects are considered according to three criteria:

I. According to the criterion of the specificity of the object, the following forms of foreign trade of foreign economic activity entities are distinguished:

a) trade in goods, which, in particular, includes:

Commodities;

Fuels and lubricants;

Foodstuffs;

Semi-finished products;

b) trade in services, including:

Trade of licenses;

Patents;

Know-how;

Engineering services;

Insurance services;

Marketing services;

Accounting services;

Audit services;

Legal services;

Tourist services;

Transport services;

Consulting services;

Consignment services;

Forwarding services;

II. According to the criterion of the specific interaction of subjects of foreign trade objects, the following forms of their foreign trade are distinguished:

1. Traditional foreign trade is the export-import operations of foreign economic activity entities, carried out on the terms of payment for goods and services provided in cash (goods - money, money - goods), that is, goods are sold / bought for money,

2. Trade in cooperative products, that is, trade in products manufactured on the basis of international agreements on production cooperation.

This type of foreign trade means that subjects of foreign economic activity, before completing the act of purchase and sale of goods, have production relations (foreign economic contracts on cooperation in the production of these products) and continue them after the foreign trade transaction. With this form of trade, only cooperative products are sold, that is, products whose exchange is the subject of relevant foreign economic contracts of foreign economic activity entities.

3. Countertrade of foreign economic activity subjects is commodity exchange transactions. The main types of countertrade of foreign economic activity subjects:

3.1. Commodity exchange compensation transactions on a non-currency basis, they include:

3.1.1. Agreements with a one-time supply of goods, which are divided into:

a) barter transactions;

b) direct compensation.

Let's look at these subtypes of countertrade in more detail:

a) barter transactions involve the accounting of an agreed quantity of one good for another. Barter transactions include:

One-time delivery of goods to a prominent destination;

The gap between supplies of goods should not exceed one year;

b) direct compensation is the mutual supply of goods for the same amount without settlements in foreign currency. Direct compensation, unlike barter transactions, involves the exchange of several types of goods.

3.1.2. Agreements with long deadlines. These include:

a) the basic agreements that apply large companies, countries and provide for the signing of agreements with partners for a long period. These agreements fix lists of goods that partners supply to each other;

b) agreements on the exchange of goods based on a list of obligations. This type of countertrade involves the exchange of lists of goods between partners in which they are mutually interested. The duration of these agreements is from 3-5 years;

c) protocols on the exchange of goods. This is the legal basis for the mutual exchange of goods between partners for a specified period (usually one year).

3.2. Compensation transactions on a commercial basis include:

3.2.1. Short-term compensation transactions, these include:

a) transactions with partial compensation. They provide for: covering a certain part of exports, purchasing goods in the importing country. Part of the export remains paid in money;

b) transactions with full compensation. They mean the purchase of goods in an amount that is equal to or exceeds the cost of supply of export goods;

c) tripartite compensation transaction. It means the participation in its execution of an intermediary from a third party (country). In this case, deliveries are made to a third country, and the exporter receives payment for them from the importer in hard currency.

3.2.2. Counter purchases. These include:

a) parallel transactions. These agreements mean that the partners enter into two separate contracts:

For export of goods;

For counter purchase of goods.

The validity period of parallel agreements is from 2 to 5 years.

b) gentleman's agreement. It means that the partners enter into an agreement under which the exporter has no obligations to counter-supply goods, but is ready to purchase goods from the importer;

c) transactions with the transfer of financial obligations “associated.” This means that the exporter transfers its obligations for the counterpurchase of goods to a third party (usually large trading firms).

3.2.3. Advance purchases. They mean that the exporter undertakes to purchase goods from the importer in exchange for his obligation to buy goods from the exporter in the same volume.

3.3. Compensation transactions based on industrial cooperation arrangements include:

3.3.1. Large-scale long-term compensation contracts with repurchase of goods. They are divided into the following subspecies:

a) transactions in which the compensation obligations are higher than the value of the goods supplied under this transaction. They are used for purchasing equipment on the basis of long-term loans. Such a loan is returned in the form of finished products, raw materials, materials;

b) transactions in which purchase obligations are at or below the cost of the supplied equipment.

This means that counterpurchases can be carried out both in the form of finished and intermediate products at the prices of the supplier’s enterprise. These prices are updated quarterly.

3.3.2. Production sharing agreements. These are agreements between partners on the construction of turnkey industrial facilities. Payment for the construction of the enterprise is carried out by the supply of products manufactured by it. The share of such supplies is 20-40% of the cost of construction.

3.3.3. Development-import agreements mean that the costs of a foreign company that supplies complete equipment to its partner’s enterprise will be covered by counter deliveries of the enterprise’s products.

Along with the types of countertrade discussed above, it is necessary to note operations with customer-supplied raw materials,

Operations with customer-supplied raw materials are such operations for processing, enrichment of customer-supplied raw materials, imported into the customs territory of Ukraine and exported outside its borders in order to obtain finished products for an appropriate fee.

Features of operations with customer-supplied raw materials. They provide:

1. Processing of DS, its enrichment or use.

2. Various quantities customers and performers.

3. Availability of stages and operations for processing this raw material.

4. Possibility of purchasing DS by foreign economic entities for foreign currency.

An essential feature of operations with customer-supplied raw materials is the following - such operations, first of all, include those in which the customer’s raw materials at a specific stage of its processing constitute at least 20% of the total cost of the finished product.

The supplied raw materials are:

1. Raw materials, materials, semi-finished products, components, energy resources (coal, oil, gas), which were imported into the customs territory of Ukraine by a foreign customer.

2. The same goods purchased by a foreign customer in Ukraine for foreign currency (FCS).

3. The same goods that are exported outside the customs territory of Ukraine for the purpose of use in the production of finished products and provide for their subsequent return to Ukraine or sale in the country of production or in another state.

Ownership of customer-supplied raw materials. It provides:

a) for imported customer-supplied raw materials in Ukraine and finished products made from them, the ownership right belongs to foreign customers

b) for customer-supplied raw materials exported from Ukraine by national subjects of foreign economic activity - they own the right of ownership to the finished products made from these customer-supplied raw materials.

Subjects of operations with customer-supplied raw materials:

1. The subject of foreign economic activity, providing raw materials on a customer basis, is the customer.

2. The subject of foreign trade activities that processes customer-supplied raw materials is the contractor.

Settlements between foreign economic entities for transactions with customer-supplied raw materials:

1. They can be made in cash.

2. They are carried out by allocating to the contractor a certain share of customer-supplied raw materials.

3. They occur through the supply of finished products by the customer.

4. Such calculations are also carried out through the simultaneous use of the first three forms of calculations while coordinating the interests of customers and performers.

III. The third general criterion (by which forms of foreign trade are distinguished) of foreign economic activity subjects is: the specifics of regulation of foreign trade of foreign economic activity subjects. These forms of 3/t include:

1. Regular customs - means that all subjects of foreign trade activities, when carrying out export-import operations, are subject to customs requirements established by national legislation in full.

2. Preferential customs - means the application of preferential customs requirements to foreign economic entities.

3. Discriminatory foreign trade means restriction of foreign trade by a state or group of states.

Along with the forms, there are methods for carrying out foreign trade of foreign trade entities. These include:

2. Indirect trade.

Direct trade is a method of foreign trade in which there are no intermediaries between foreign economic entities.

Indirect trade is a method of carrying out trade transactions by foreign economic activity entities with the help of intermediaries. Indirect VT of foreign economic activity subjects is carried out by the following specific methods:

1. 3/t through intermediaries.

2. Exchange trading.

3. Auction trading.

4. International trading (tenders).

Let's consider these methods of indirect 3/t of foreign economic activity subjects. Trade through intermediaries. The following intermediaries participate in indirect 3/t of foreign trade entities:

a) simple;

b) attorneys;

c) commission agents;

d) consignors;

e) agents;

e) sales intermediaries.

The above intermediaries enter into the following types of agreements with manufacturing companies:

1. Agreement with a simple intermediary. This agreement provides that foreign legal entities or individuals (intermediaries) search for interested partners and sign a foreign economic contract among themselves. For this, intermediaries will receive a monetary reward.

2. Contract-assignment. This agreement provides that the seller and buyer of imported goods instruct intermediaries (other persons, firms, organizations) to conclude export or import contracts on behalf and at the expense of buyers and sellers.

3. Commission agreement This agreement provides that commission intermediaries enter into foreign economic contracts on their own behalf, but at the expense of the seller or buyer of imported goods. Remuneration - commission.

4. Consignment agreement. This agreement provides that sellers (exporters) deliver goods to the warehouses of intermediaries (consignors), and they are sold to buyers. Consignors transfer the received foreign currency earnings to sellers,

5. Agreements with sales intermediaries (distributors). This agreement provides that intermediaries (distributors) independently resell goods on their own behalf and at their own expense.

6. Agency agreements. These are transactions that provide that intermediaries:

a) facilitate the conclusion of foreign economic contracts;

b) agents enter into these agreements on behalf of sellers and buyers.

7. Dealer agreements. These are agreements with legal entities and individuals independent of the supplier who are engaged in the resale of their goods.

The method of carrying out indirect foreign trade of subjects of foreign economic activity is exchange trading. When carrying out exchange transactions within the global economy, there are 3 types of international exchanges.

1. M/n commodity exchange.

2. M/n stock exchange.

3. M/n currency exchange.

The m/n commodity exchange is an intermediary in the implementation of foreign trade operations by foreign economic activity entities.

An m/n commodity exchange is an organization that provides a venue and provides rules for the introduction of regular trading in exchange-traded commodities.

An international commodity exchange is a stable global market where large volumes of homogeneous goods are traded.

The following operations are carried out on international commodity exchanges:

1. Agreement for real goods ("spot"). A spot agreement means that the seller or buyer actually wants to sell or buy an actual product.

Spot agreements are divided into:

a) a transaction with immediate delivery of goods (up to 15 days from the date of conclusion of the transaction);

b) transactions for goods with delivery in the future (up to 3 months). These transactions for real goods are called "forward". Forward transaction prices take into account their dynamics and changes since the conclusion of the transaction.

2. Futures (futures) transactions. They do not provide for the sale of real goods within a certain period of time. These agreements are aimed at the purchase and sale of the right to a product, that is, to documents of ownership of this product.

3. Speculative transactions are transactions that are designed for a possible increase in prices for goods in the future. Speculative operations are based on price differences for individual goods. This price difference arises due to:

a) extension of the period for the sale of goods;

b) rising prices for goods;

c) the use of interchangeable goods, the prices of which are lower.

4. Hedging (insurance) operations. They are carried out in order to avoid losses from price changes.

The method of indirect trade in sub-objects of foreign economic activity is auction trade.

An auction is a public sale of any property, things, goods in which the things offered for sale are purchased by the person who offered the highest price for them.

The main goal of a m/n auction is to ensure the sale of goods at the best prices.

M/n auctions are held in 4 stages:

Stage 1 - preparatory. At this stage, an invitation to participate in the auction is sent. This is also where the goods are received, inspected by auction staff, lots are formed and agreements are concluded by the seller.

Lots are a breakdown of goods into standard lots. A sample is selected from each lot in the batch and put up for auction.

Stage 2 - includes inspection of the goods by the buyer and selection of lots.

Stage 3 - involves direct trading. This is precisely the essence of the auction.

Main types of auctions:

a) bargaining, which involves increasing the price of a product. In it, the one who last named the price of the product offers the price that is the highest;

b) bargaining with a reduction in the price of goods put up for sale at an m/n auction. Here the buyer wins, the last one named his price for the product.

Stage 4 is the final stage. At this stage, transactions are processed.

M/n trade auctions are carried out in the following ways:

1. Public m/n auctions.

2. Secret m/n auctions.

3. Automated m/n auctions.

Public auctions involve holding a public auction in which the buyer openly names the agreed price.

Silent auctions involve buyers submitting conventional signs agreement to raise the price by a predetermined markup. In this case, the name of the buyer is kept secret.

Automated - assume that the progress of the sale of goods, the rates offered by buyers are automatically highlighted on an electronic display.

❖ The method of indirect trade with / sub-objects of foreign trade activities is international tenders.

International auctions assume that they are organized by a buyer who invites several sellers of goods or services to participate in the auction. In this case, the buyer chooses the product that satisfies his needs in terms of quality and price.

International bidding is a way of buying and selling goods or awarding contracts for the performance of individual works under certain conditions.

Types of international trading:

1. Open m/n bidding. These are those in which all interested legal entities and individuals can take part. As a rule, standard equipment is offered for sale at open auction.

2. Closed m/n auctions. A limited number of the most well-known companies that have authority in the world market participate in them. These tenders are used, for example, when purchasing complex and expensive equipment.