Organizational and technical aspect studies physical exchange of goods and services between state-registered national economies (states). The main attention is paid to problems associated with the purchase (sale) of specific goods, their movement between counterparties (seller - buyer) and the intersection state borders, with calculations, etc. These aspects of MT are studied by specific special (applied) disciplines - organization and technology of foreign trade operations, customs, international financial and credit operations, international law (its various branches), accounting, etc.
Organizational and market aspect defines MT as the totality of world demand and world supply, which materialize in two counter flows of goods and (or) services - world exports (exports) and world imports (imports). At the same time, global supply is understood as the volume of production of goods that consumers are willing to collectively purchase at the existing price level within and outside the country, and aggregate supply is understood as the volume of production of goods that producers are willing to offer on the market at the existing price level. They are usually considered only in value terms. The problems that arise in this case are mainly related to the study of the state of the market for specific goods (the relationship between supply and demand on it - the market situation), the optimal organization of commodity flows between countries, taking into account a wide variety of factors, but above all the price factor.
These problems are studied by international marketing and management, theories of international trade and the world market, international monetary and financial relations.
Socio-economic aspect considers MT as a special type socio-economic relations arising between states in the process and regarding the exchange of goods and services. These relationships have a number of characteristics that make them particularly important in the global economy.
First of all, it should be noted that they are worldwide in nature, since all states and all their economic groupings are involved in them; they are an integrator, uniting national economies into a single world economy and internationalizing it, based on the international division of labor (ILD). MT determines what is more profitable for the state to produce and under what conditions to exchange the produced product. Thus, it contributes to the expansion and deepening of MRI, and therefore MT, involving more and more states in them. These relations are objective and universal, that is, they exist independently of the will of one (group) person and are suitable for any state. They are able to systematize world economy, arranging states depending on the development of foreign trade (FT), on the share that it (FT) occupies in international trade, on the size of the average per capita foreign trade turnover. On this basis, a distinction is made between “small” countries - those that cannot influence changes in the price of medical supplies if they change their demand for any product and, conversely, “large” countries. Small countries, in order to make up for this weakness in a particular market, often unite (integrate) and present aggregate demand and aggregate supply. But large countries can also unite, thus strengthening their position in the MT.
Characteristics of international trade
A number of indicators are used to characterize international trade:
- value and physical volume of world trade turnover;
- general, product and geographical (spatial) structure;
- level of specialization and industrialization of exports;
- elasticity coefficients of MT, export and import, terms of trade;
- foreign trade, export and import quotas;
- trade balance.
World trade turnover
World trade turnover is the sum of foreign trade turnovers of all countries. Foreign trade turnover of the country is the sum of exports and imports of one country with all the countries with which it has foreign trade relations.
Since all countries import and export goods and services, then world trade turnover is also defined as sum of world exports and world imports.
State world trade turnover is assessed by its volume for a certain time period or on a certain date, and development— the dynamics of these volumes over a certain period.
Volume is measured in monetary and physical terms, respectively, in US dollars and in physical measurement (tons, meters, barrels, etc., if it applies to a homogeneous group of goods), or in conventional physical dimension, if the goods do not have a single natural measurement. To estimate physical volume, value is divided by the average world price.
To assess the dynamics of global trade turnover, chain, base and average annual growth rates (indices) are used.
MT structure
The structure of world trade turnover shows ratio in its total volume of certain parts, depending on the selected characteristic.
General structure reflects the ratio of exports and imports as a percentage or in shares. In physical volume this ratio is equal to 1, but in total the share of imports is always greater than the share of exports. This is due to the fact that exports are priced at FOB (Free on board) prices, at which the seller only pays for the delivery of the goods to the port and their loading on board the ship; Imports are valued in CIF prices (cost, insurance, freight, i.e. they include the cost of goods, freight costs, insurance costs and other port fees).
Commodity structure world trade turnover shows the share of a particular group in its total volume. It should be borne in mind that in MT a product is considered as a product that satisfies some social need, to which two main market forces are directed - supply and demand, and one of them necessarily operates from abroad.
Goods produced in national economies participate in MT in different ways. Some of them don't participate at all. Therefore, all goods are divided into tradable and non-tradable.
Traded goods are goods that move freely between countries, non-tradable goods – for one reason or another (uncompetitive, strategically important for the country, etc.) do not move between countries. When they talk about the commodity structure of world trade, we are talking only about traded goods.
In the most general proportion in world trade turnover, trade in goods and services is distinguished. Currently the ratio between them is 4:1.
In world practice they use various systems classification of goods and services. For example, trade in goods uses the Standard International Trade Classification (UN) - SITK, in which 3118 main headings are grouped into 1033 subgroups (of which 2805 items are included in 720 subgroups), which are aggregated into 261 groups, 67 divisions and 10 sections. Most countries use the Harmonized System for Description and Coding of Goods (including the Russian Federation since 1991).
When characterizing the commodity structure of world trade turnover, two large groups of goods are most often distinguished: raw materials and finished products, the ratio between which (in percentage) is 20: 77 (3% other). For certain groups of countries it varies from 15: 82 (for developed countries with market economy) (3% other) up to 45: 55 (for developing countries). For individual countries (foreign trade turnover), the range of variations is even wider. This ratio may change depending on changes in prices for raw materials, especially energy.
For more detailed characteristics product structure, a diversified approach can be used (within the framework of the SMTC or in other frameworks in accordance with the objectives of the analysis).
To characterize world exports, it is important to calculate the share of engineering products in its total volume. Comparing it with a similar indicator for a country allows us to calculate the industrialization index of its exports (I), which can range from 0 to 1. The closer it is to 1, the more the trends in the development of the country’s economy coincide with the trends in the development of the world economy.
Geographical (spatial) structure world trade turnover is characterized by its distribution according to the directions of commodity flows - the totality of goods (in physical value terms) moving between countries.
There are commodity flows between countries with developed market economies (ADME). They are usually designated “West - West” or “North - North”. They account for about 60% of world trade; between SRRE and RS, which stand for “West-South” or “North-South”, they account for over 30% of world trade turnover; between RS - "South - South" - about 10%.
In the spatial structure, regional, integration and intracorporate trade turnover should also be distinguished. These are parts of global trade turnover, reflecting its concentration within one region (for example, Southeast Asia), one integration group (for example, the EU) or one corporation (for example, a multinational corporation). Each of them is characterized by its general, commodity and geographical structure and reflects the trends and degree of internationalization and globalization of the world economy.
Specialization MT
To assess the degree of specialization of world trade turnover, the specialization index (T) is calculated. It shows the share of intra-industry trade (exchange of parts, assemblies, semi-finished products, finished items of one industry, for example, passenger cars different brands, models) in the total volume of world trade turnover. Its value is always in the range 0-1; The closer it is to 1, the deeper the international division of labor (IDL) in the world, the greater the role of the intra-industry division of labor in it. Naturally, its value will depend on how broadly the industry is defined: the wider it is, the higher the T coefficient.
A special place in the set of indicators of world trade turnover is occupied by those that allow us to assess the impact of world trade on the world economy. These include, first of all, the elasticity coefficient of world trade. It is calculated as the ratio of the growth indices of physical volumes of GDP (GNP) and trade turnover. Its economic content is that it shows by what percentage the GDP (GNP) increased with a 1% increase in trade turnover. The global economy is characterized by a tendency to strengthen the role of the transport sector. For example, in 1951-1970. the elasticity coefficient was 1.64; in 1971-1975 and 1976-1980 - 1.3; in 1981-1985 - 1.12; in 1987-1989 - 1.72; in 1986-1992 - 2.37. As a rule, during periods of economic crises, the elasticity coefficient is lower than during periods of recession and recovery.
Terms of trade
Terms of trade- a coefficient that establishes a connection between average world prices of exports and imports, since it is calculated as the ratio of their indices for a certain period of time. Its value varies from 0 to + ¥: if it is equal to 1, then the terms of trade are stable and maintain parity of export and import prices. If the coefficient increases (compared to the previous period), it means that the terms of trade are improving and vice versa.
MT elasticity coefficients
Import elasticity— an index characterizing changes in aggregate demand for imports resulting from changes in the terms of trade. It is calculated as a percentage of import volumes and their prices. In its numerical value it is always greater than zero and varies up to
+ ¥. If its value is less than 1, it means that an increase in price by 1% led to an increase in demand by more than 1%, and therefore, demand for imports is elastic. If the coefficient is more than 1, then the demand for imports has increased by less than 1%, which means that imports are inelastic. Therefore, an improvement in the terms of trade forces a country to increase spending on imports if demand for it is elastic, and decrease it if it is inelastic, while increasing spending on exports.
Export elasticity and imports are also closely related to terms of trade. When the elasticity of imports is equal to 1 (a drop in the price of imports by 1% led to an increase in its volume by 1%), the supply (export) of goods increases by 1%. This means that the export elasticity (Ex) will be equal to the import elasticity (Eim) minus 1, or Ex = Eim - 1. Thus, the higher the import elasticity, the more developed market mechanism, allowing producers to respond more quickly to changes in world prices. Low elasticity is fraught with serious economic problems for the country, if this is not associated with other reasons: high investments made in the industry earlier, the inability to quickly reorient, etc.
The above elasticity indicators can be used to characterize international trade, but they are more effective for characterizing foreign trade. This also applies to such indicators as foreign trade, export and import quotas.
MT quotas
The foreign trade quota (FTC) is defined as half the sum (S/2) of a country's exports (E) and imports (I), divided by GDP or GNP and multiplied by 100%. It characterizes the average dependence on the world market, its openness to the world economy.
Analysis of the importance of exports for a country is assessed by the export quota - the ratio of the amount of exports to GDP (GNP) multiplied by 100%; The import quota is calculated as the ratio of the amount of imports to GDP (GNP) multiplied by 100%.
An increase in the export quota indicates an increase in its importance for the development of the country’s economy, but this importance itself can be both positive and negative. It is certainly positive if the export of finished products expands, but an increase in the export of raw materials, as a rule, leads to a deterioration in the terms of trade for the exporting country. If exports are single-product, then its growth can lead to the destruction of the economy, which is why such growth is called destructive. The result of such an increase in exports is the insufficiency of funds for its further increase, and the deterioration of the terms of trade in terms of profitability does not allow the purchase of the required amount of imports with export earnings.
Trade balance
The resulting indicator characterizing a country's foreign trade is the trade balance, which is the difference between the amount of exports and imports. If this difference is positive (which is what all countries strive for), then the balance is active; if it is negative, it is passive. Trade balance included integral part into the country's balance of payments and largely determines the latter.
Current trends in the development of international trade in goods and services
The development of modern MT is influenced by general processes occurring in the global economy. The economic recession that affected all groups of countries, the Mexican and Asian financial crises, and the growing size of internal and external imbalances in many, including developed, countries could not but cause unevenness in the development of international trade and a slowdown in its growth rate in the 1990s. IN beginning of XXI V. The growth rate of world trade turnover increased, and in 2000-2005. it increased by 41.9%.
The world market is characterized by trends associated with the further internationalization of the world economy and its globalization. They are manifested in the growing role of international trade in the development of the world economy, and foreign trade in the development of national economies. The first is confirmed by the increase in the elasticity coefficient of world trade turnover (compared to the mid-1980s by more than 2 times), and the second by the growth of export and import quotas for most countries.
“Openness”, “interdependence” of economies, “integration” become key concepts for the global economy and international trade. This happened largely under the influence of TNCs, which truly became centers of coordination and engines of global exchange of goods and services. Within themselves and among themselves, they created a network of relationships that went beyond the borders of states. As a result, about 1/3 of all imports and up to 3/5 of trade in machinery and equipment are intra-corporate trade and represent the exchange of intermediate products (components). The consequence of this process is the barterization of international trade and the growth of other types of countertrade transactions, which already account for up to 30% of all international trade. This part of the world market loses purely commercial features and turns into so-called quasi-trade. It is served by specialized intermediary firms, banking and financial institutions. At the same time, the nature of competition in the global market and the structure of competitive factors are changing. The development of economic and social infrastructure, the presence of a competent bureaucracy, a strong educational system, a sustainable policy of macroeconomic stabilization, quality, design, product presentation style, timely delivery, after-sales service. As a result, countries are clearly stratified on the global market based on technological leadership. Fortune favors those countries that have new competitive advantages, i.e. they are technology leaders. They are a minority in the world, but they receive the majority of FDI, which strengthens their technological leadership and competitiveness in the IR.
Significant changes are taking place in the commodity structure of the MT: the share of finished products has increased and the share of food and raw materials (excluding fuel) has decreased. This happened as a result of the further development of scientific and technological progress, which is increasingly replacing natural raw materials with synthetic ones, allowing for the implementation of resource-saving technologies in production. At the same time, trade in mineral fuels (especially oil) and gas increased sharply. This is due to a complex of factors, including the development chemical industry, changes in the fuel and energy balance and an unprecedented increase in oil prices, which at the end of the decade, compared to its beginning, more than doubled.
In the trade of finished products, the share of science-intensive goods and high-tech products (microtechnical, chemical, pharmaceutical, aerospace, etc. products) is growing. This is especially clear in the exchange between developed countries - technological leaders. For example, in the foreign trade of the USA, Switzerland and Japan, the share of such products accounts for over 20%, Germany and France - about 15%.
The geographical structure of international trade has also changed quite noticeably, although the “West-West” sector is still decisive for its development, which accounts for about 70% of world trade turnover, and within this sector the leading role is played by a dozen (USA, Germany, Japan, France, Great Britain, Italy, the Netherlands, Canada, Switzerland, Sweden).
At the same time, trade between developed countries and developing countries is growing more dynamically. This is due to a whole range of factors, not the least of which is the disappearance of an entire cluster of countries in transition. According to the UNCTAD classification, all of them became developing countries (except for 8 CEE countries that joined the EU on May 1, 2004). According to UNCTAD estimates, DCs were the engine of development of the transport industry in the 1990s. They remain so at the beginning of the 21st century. This is due to the fact that although RS markets are less capacious than RES markets, they are more dynamic and therefore more attractive to their developed partners, especially TNCs. At the same time, the purely agricultural and raw material specialization of most RS is complemented by the transfer to them of functions of supplying industrial centers with material-intensive and labor-intensive products of manufacturing industries, based on the use of cheaper labor force. These are often the most environmentally polluting industries. TNCs contribute to the growth of the share of finished products in the exports of the Russian Federation, however, the commodity structure of trade in this sector remains predominantly raw materials (70-80%), which makes it very vulnerable to price fluctuations on the world market and deteriorating terms of trade.
In developing country trade there are a number of very acute problems, arising primarily due to the fact that the main factor of their competitiveness remains price, and the terms of trade, changing not in their favor, inevitably lead to an increase in its imbalance and less intensive growth. Eliminating these problems involves optimizing the commodity structure of foreign trade based on diversification industrial production, eliminating the technological backwardness of countries, which makes their export of finished products uncompetitive, increasing the activity of countries in trade in services.
Modern MT is characterized by a tendency towards the development of trade in services, especially business ones (engineering, consulting, leasing, factoring, franchising, etc.). If in 1970 the volume of world exports of all services (including all types of international and transit transport, foreign tourism, banking services, etc.) amounted to 80 billion dollars, then in 2005 it was about 2.2 trillion. dollars, i.e. almost 28 times more.
At the same time, the growth rate of exports of services is slowing down and significantly lags behind the growth rate of exports of goods. So, if for 1996-2005. The average annual export of goods and services almost doubled compared to the previous decade, then in 2001-2005. The average annual growth in exports of goods was 3.38%, and of services - 2.1%. As a result, the share of services in the total volume of world trade turnover is stagnating: in 1996 it was 20%, in 2000 - 19.6%, in 2005 - 20.1%. The leading positions in this trade in services are occupied by RDREs, accounting for about 80% of the total volume of international trade in services, which is due to their technological leadership.
The global market for goods and services is characterized by trends associated with the further internationalization of the world economy. In addition to the growing role of trade and trade in the development of the world economy, the transformation of foreign trade into an integral part of the national reproduction process, there is a clear tendency towards its further liberalization. This is confirmed not only by a decrease in the average level of customs duties, but also by the elimination (softening) of quantitative restrictions on imports, the expansion of trade in services, the change in the nature of the world market itself, which now receives not so much surplus national production of goods, but pre-agreed deliveries of goods produced specifically for a specific consumer goods.
International trade goods and services
World market of goods and services is a system of economic relations in the sphere of exchange, which develops between entities (states, enterprises engaged in foreign economic activity, financial institutions, regional blocs, etc.) regarding the purchase and sale of goods and services, i.e. world market objects.
As an integral system, the world market has developed to end of the 19th century century simultaneously with the completion of the formation of the world economy.
The global market for goods and services has its own characteristics. The main thing is that transactions for the purchase and sale of goods and services are carried out by residents of different states; goods and services, moving from producer to consumer, cross the borders of sovereign states. The latter, implementing their foreign economic (foreign trade) policy, with the help of various instruments (customs duties, quantitative restrictions, requirements for goods to comply with certain standards, etc.) have a significant impact on commodity flows both from the point of view of geographic focus and sectoral belonging, intensity.
Regulation of the movement of goods on the world market is carried out not only at the level of individual states, but also at the level of interstate institutions - the World trade organization(WTO), European Union, North American Free Trade Agreement, etc.
All member countries of the World Trade Organization (as of August 24, 2012 there were 157 of them, Russia became the 156th) undertake to implement 29 basic agreements and legal instruments, united by the term “multilateral trade agreements,” covering over 90% of all world trade in goods and services.
Fundamental principles and rules of the WTO are:
· providing most favored nation treatment in trade on a non-discriminatory basis;
· mutual provision of national treatment to goods and services of foreign origin;
· regulation of trade primarily by tariff methods;
· refusal to use quantitative restrictions;
· transparency of trade policy;
· resolution of trade disputes through consultations and negotiations.
International trade affects the state of the national economy by doing the following: tasks :
1. Replenishment of the missing elements of national production, which makes the “consumer basket” of economic agents of the national economy more diverse;
2. Transformation of the natural-material structure of GDP due to the ability external factors production to modify and diversify this structure;
3. Effect-forming function, i.e. the ability of external factors to influence the growth of the efficiency of national production, maximizing national income while simultaneously reducing the socially necessary costs of its production.
Foreign trade operations purchase and sale of goods are the most common and traditional for international trade.
Sales and purchase transactions goods are divided into the following:
· export;
· imported;
· re-export;
· re-imported;
· countertrade.
Export operations involve the sale and export abroad of goods to transfer them into ownership of a foreign counterparty.
Import operations– purchase and import of foreign goods for their subsequent sale in the domestic market of their country or consumption by an importing enterprise.
Re-export and re-import operations are a type of export-import.
Re-export operation- This is the export abroad of previously imported goods that have not undergone any processing in the re-exporting country. Such transactions most often occur when selling goods at auctions and commodity exchanges. They are also used when implementing large projects with the participation of foreign firms, when the procurement individual species materials and equipment are carried out in third countries. In this case, as a rule, goods are sent to the country of sale without the delivery of products to the country of re-export. Quite often, re-export operations are used to make a profit due to the difference in prices for the same product in different markets. In this case, the goods are also not imported to the re-exporting country.
A significant number of re-export operations are carried out in the territory of free economic zones. Goods imported into free economic zones are not subject to customs duties and, when exported for re-export, are exempt from all duties, fees and taxes on imports, circulation or production. Customs duty is paid only when goods are moved across the customs border into the country.
Re-import operations involve the import from abroad of previously exported domestic goods that have not been processed there. These may be goods that were not sold at auction, returned from a consignment warehouse, rejected by the buyer, etc.
In recent decades, qualitatively new processes in the organization and technology of international trade operations have continued to actively develop. One of these processes was the widespread use of countertrade.
At the core counter trade lies in concluding counter transactions that link export and import transactions. An indispensable condition counter transactions is the obligation of the exporter to accept certain goods of the buyer as payment for his products (for the full value or part thereof) or to organize their acquisition by a third party.
There are following forms countertrade: barter, counterpurchase, direct compensation.
Barter– this is a natural, without the use of financial calculations, exchange of a certain product for another.
According to the terms counter purchases The seller supplies the buyer with goods on normal commercial terms and at the same time undertakes to purchase counter goods from him in the amount of a certain percentage of the amount of the main contract. Consequently, a counterpurchase involves the conclusion of two legally independent, but actually interconnected purchase and sale transactions. In this case, the primary contract includes a clause on procurement obligations and liability in case of non-fulfillment of the procurement.
Direct compensation involves the mutual supply of goods on the basis of one purchase and sale contract or on the basis of a purchase and sale contract and counter or advance purchase agreements attached to it. These transactions have an agreed mechanism for financial settlements in the presence of commodity and financial flows in every direction. Like barter transactions, they contain an obligation on the part of the exporter to purchase goods from the importer. However, with compensation, unlike barter, supplies are paid for independently of each other. At the same time financial calculations between the parties can be carried out both through the transfer of foreign currency and the settlement of mutual clearing claims.
In practice, the main incentive for entering into most offset transactions is to avoid the transfer of foreign currency. To do this, a clearing form of payment is used, in which, after the goods have been dispatched by the exporter, their payment requirements are deposited into a clearing account in the importer's country and then satisfied through counter delivery.
To analyze the dynamics of international trade in goods, indicators of the value and physical volume of foreign trade are used. Foreign trade value calculated for a certain period of time in current prices of the analyzed years using current exchange rates. Actual volume of foreign trade is calculated in constant prices and allows making the necessary comparisons and determining its real dynamics.
Along with international trade in goods, the trade in services. International trade in goods and trade in services are closely related. When goods are supplied abroad, more and more services are provided, from market analysis to the transportation of goods. Many types of services entering international circulation are included in the export and import of goods. At the same time, international trade in services has some features compared to traditional trade in goods.
The main difference is that services usually do not have a material form, although a number of services acquire it, for example: in the form of magnetic media for computer programs, various documentation printed on paper. However, with the development and spread of the Internet, the need to use a material shell for services is significantly reduced.
Services, unlike goods, are produced and consumed mostly simultaneously and cannot be stored. In this regard, the presence abroad of direct producers of services or foreign consumers in the country of production of services is often required.
The concept of “service” includes a complex of diverse types economic activity person, causing the existence of various options for classifications of services.
International practice has identified the following 12 service sectors, which, in turn, include 155 subsectors:
2. postal and communication services;
3. construction work and structures;
4. trading services;
5. services in the field of education;
6. environmental protection services;
7. services in the field of financial intermediation;
8. health and social services;
9. services related to tourism;
10. services for organizing recreation, cultural and sports events;
11. transport services;
12. other services not included anywhere.
In the system of national accounts, services are divided into consumer (tourism, hotel services), social (education, medicine), production (engineering, consulting, financial and credit services), distribution (trade, transport, freight).
The WTO focuses on the relationship between the producer and consumer of services, highlighting four types of transactions in international trade in services :
A. From the territory of one country to the territory of another country (cross-border supply of services). For example, sending information data to another country via telecommunications networks.
B. Consumption of a service in the territory of another country (consumption abroad) implies the need to move the buyer (consumer) of the service to another country in order to receive (consume) the service there, for example, when a tourist goes to another country for a vacation.
B. Supply through a commercial presence in another country (commercial presence) means the need to move factors of production to another country to provide services in that country. This means that a foreign service provider must invest in the country’s economy and create a legal entity there for the purpose of providing services. It's about, for example, on the creation or participation in the creation of banks, financial or insurance companies in the territory of another country.
D. Supply through the temporary presence of individuals in the territory of another country means that the individual moves to another country for the purpose of providing services on its territory. An example would be services provided by a lawyer or consultant.
In conditions of a high degree of saturation of the world market with goods and tougher competition on it, services provided to the business sector, for example, engineering, consulting, franchising, etc., become important. Tourism, healthcare, education, culture and art have great export potential.
Let us briefly describe some of the types of services.
Engineering represents engineering and consulting services for the creation of enterprises and facilities.
The entire range of engineering services can be divided into two groups: firstly, services related to the preparation of the production process and, secondly, services to ensure the normal course of the production process and sales of products. The first group includes pre-project services (mineral exploration, market research, etc.), design services (drawing master plan, project cost estimation, etc.) and post-project services (supervision and inspection of work, personnel training, etc.). The second group includes services for managing and organizing the production process, inspecting and testing equipment, operating the facility, etc.
Consulting is the process of providing the client with the special knowledge, skills and experience necessary to carry out professional activities.
Consulting services can be considered from the point of view of the subject of consulting and classified depending on the sections of management: general management, financial management, etc. Based on the consulting method, for example, expert and educational consulting are distinguished.
Consultants' services are intended for use by company management, i.e. decision makers related to the activities of the organization as a whole. By engaging a consultant, the client expects to receive from him assistance in developing or reorganizing the business, expert opinions regarding certain decisions or situations, and finally, simply to learn or adopt certain professional skills. In other words, consultants are invited to remove the uncertainty that arises in different stages the process of preparing, making and implementing responsible decisions.
Franchising– a system for transferring or selling technology licenses and trademark. This type of service is characterized by the fact that the franchisor transfers not only exclusive rights based on a license agreement to engage in business activities, but also includes assistance in training, marketing, and management in exchange for financial compensation from the franchisee. Franchising as a business presupposes that, on the one hand, there is a company that is known in the market and has a high image, and on the other, there is a citizen, a small entrepreneur, a small company.
Rent- a form of management in which, on the basis of an agreement between the lessor and the lessee, the latter is transferred to the latter for temporary possession and use of various objects necessary for independent management of the economy.
Lease items can be land and other movable property, machinery, equipment, and various durable goods.
Long-term leases, called leasing.
The following scheme is most typical for a leasing operation. The lessor enters into a lease agreement with the lessee and signs a sales contract with the equipment manufacturer. The manufacturer transfers the leased item to the lessee. The leasing company, at its own expense or through a loan received from a bank, pays the manufacturer and repays the loan from lease payments.
There are two forms of leasing: operational And financial. Operational leasing involves renting equipment for a period that is shorter than the depreciation period. In this case, the plant and equipment are the subject of a series of successive short-term leases, and full depreciation of the equipment occurs as a result of its successive use by several lessees.
Financial leasing provides for the payment during the period of its validity of amounts covering the full cost of the equipment, as well as the profit of the lessor. In this case, the leased equipment cannot be repeatedly the subject of lease agreements, since the lease period is usually established based on the normal period of its effective service. Such a leasing operation is in many ways reminiscent of a regular foreign trade purchase and sale transaction, but on specific conditions similar to forms of commodity lending.
Tourist services are a widespread type of activity in modern conditions. International tourism covers the category of persons traveling abroad and not engaging in paid activities there.
Tourism can be classified according to various signs:
ü purpose: route-educational, sports and recreational, resort, amateur, festival, hunting, shopping tourism, religious, etc.;
ü form of participation: individual, group, family;
ü geography: intercontinental, international, regional, by seasonality - active tourist season, off-season, off-season.
Separate group transactions for the purchase and sale of services represents operations for servicing trade turnover. These include operations:
ü for international cargo transportation;
ü freight forwarding;
ü cargo insurance;
ü cargo storage;
ü for international payments, etc.
Human society is unthinkable without international or global trade. It is historically the first form different countries. In this regard, international trade means trading settlements and fairs, the activities of which have been known since time immemorial.
She currently plays no less important role. The modern definition states that international trade is a special type of commodity-money relations based on the export of raw materials or finished products.
It is based on the division of labor. Simply put, countries produce a certain product, which they exchange when entering into cooperation. Therefore, we can safely say that currently international trade is the mutual exchange of goods and services between the national economies of the world's states.
Factors driving progress:
Socio-geographical: differences in topographical position, size and mental characteristics of the population;
Natural and climatic: differences in the provision of water and forest resources, as well as minerals.
Developed technologies and changes also play an important role economic indicators. All this contributes to strong relationships between national economies.
Production is growing slower than This is confirmed by the data. According to the results of her research, for every 10% increase in production volume there is a 16% increase in world trade volumes.
The organization of international trade is impossible without such a concept as “foreign trade”. It is divided into: trade finished products, equipment, raw materials and services.
In a narrow sense, international trade is the total trade turnover of developed countries, developing countries, and the trade turnover of countries of any continent or region.
As practice shows, the country’s interest in world trade is due to the following advantages:
Introduction to world achievements;
Rational use of available resources;
The ability to rebuild the structure of the economy in the shortest possible time;
Meeting the needs of the population.
There are different types of international trade:
Trade in goods and services;
Exchange trading;
Fairs;
Auctions;
Countertrade;
Trading compensation transactions.
If everything is very clear, then the remaining points make you think, so to fully understand the picture, let's look at this issue in more detail.
So, a trading exchange is an association of sellers, intermediaries and buyers. Such unions help improve trade, accelerate trade turnover and free pricing.
Fairs are auctions held periodically at a designated place. They are regional, international and local. At this time, exhibitions and fairs have become widespread, where you can order the product you like.
Auctions are a form of selling goods that were previously offered for inspection. Such transactions take place at a designated time in a strictly defined place. A distinctive feature of auctions is limited liability for the quality of goods.
Countertrade occurs in several directions: barter and counterpurchase.
Barter is an agreement on value. Such transactions take place without the participation of funds.
The last type of international trade is a compensation transaction, which differs from barter in that it involves not one, but several goods.
Thus, global trade is carried out in several ways that are developing and improving every minute.
The modern economy is inherently an international economy, which is based on the international division of labor and the distribution of factors of production between countries. Going beyond national borders is based on the country's need to solve internal problems through external relations. Economic relations in the world economic system are carried out in the following forms:
Export of capital;
Migration of labor resources;
Loan capital market;
International monetary system.
International trade occupies a special place in the system of world economic relations. The internationalization of economic life began in the sphere of commodity circulation. Currently, it mediates almost all types of international cooperation.
International trade entails specialization and exchange. A country that trades with other countries specializes in producing certain goods in quantities that exceed domestic demand. The surplus is exported in exchange for goods that the country's residents want to buy, but which are not produced here in sufficient quantities.
Specialization and exchange improve the standard of living in a country in two ways. First, trade takes advantage of differences in costs across countries. These benefits stem from differences in technology, varying degrees of availability of raw materials or other production factors. Secondly, with the help of trade it is easier to obtain economies of scale, that is, reduce costs by increasing output. International trade allows countries to specialize in those areas of production where costs are minimal, and to buy abroad what is expensive to produce themselves.
International trade has some specific features.
1. International trade acts as a substitute for international resource mobility.
Resource mobility (ability to move) between countries is significantly lower than within a country. If workers wish to move from one location to another within the same country, they can do so. Labor migration between countries is limited by strict immigration laws. The movement of capital across national borders is also regulated.
2. Each country uses a different currency.
3. International trade is subject to political interference and controls which differ markedly in degree and nature from those applied to domestic trade.
International trade is characterized by three important parameters: total volume (trade turnover), commodity structure and geographical structure.
To measure the total volume of international trade, we can sum the exports of all countries, or the imports of all countries; the result will be the same, since what one country exports, some other country must import. In the second half of the twentieth century, world trade turnover increased 12 times. During the same period, significant changes occurred in the commodity structure of international trade, the share of finished goods increased and the share of food and raw materials, except fuel, decreased. The share of raw materials, food and fuel in the structure of trade at the end of the 90s was about 30%, of which 25% was fuel and 5% was raw materials. At the same time, the share of finished products increased from 50% to 70%. About 1/3 of all world trade at the end of the 90s was trade in machinery and equipment.
Most world trade occurs between industrialized countries. These countries account for more than 57% of world exports, which is approximately equal to their share of world income. Exports from underdeveloped countries to developed countries reaches 15% of total trade, while exports to other underdeveloped countries account for only 6% of world trade. The small volume of trade between underdeveloped countries means that most of their exports consist of raw materials and materials used in the production of industrialized countries.
Theories of foreign trade
Mercantilism is an economic doctrine and economic policy that reflects the interests of the trading bourgeoisie during the period of the decomposition of feudalism and the formation of capitalism. Proponents of the doctrine argued that the presence of gold reserves was the basis for the prosperity of a nation. Foreign trade, the mercantilists believed, should be focused on obtaining gold, since in the case of a simple commodity exchange, both goods, once used, cease to exist. Trading was viewed as a zero-sum game, where the gain of one participant automatically means the loss of another and vice versa. Only export was considered profitable. The recommendations made regarding trade policy were to stimulate exports and restrict imports by imposing customs duties on foreign goods and receiving gold and silver in return for their goods.
At the end of the eighteenth century, A. Smith's theory of “absolute advantage” appeared. The author formulated the following conclusion: countries that actively participate in the international division of labor benefit. The international division of labor should be carried out taking into account the absolute advantages that a particular country has. Each country should specialize in the production of the product that it can produce more cheaply, i.e. for which she has an absolute advantage. The concentration of resources on the production of such goods and the refusal to produce other goods lead to an increase in overall production volumes and an increase in the exchange between countries of the products of their labor. State intervention in foreign trade exchanges was allowed only in in rare cases: in order to neutralize government support for exports in another country; due to the need to ensure security or strengthen the country's defense capability. Smith's conclusion contradicted the conclusions of the mercantilists: it is profitable not only to export, but also to import. In Smith's time, it was not clear enough which specialization could doom a weak country to dependence and which would allow it to exploit other countries.
The theory of comparative advantage.
Is it profitable to conduct foreign trade if a country does not have absolute advantages in any goods? Smith thought not. D. Riccardo proved that in this case, trade can be mutually beneficial. He formulated the principle of comparative advantage. Ricardo's theory of trade says that a country will benefit from trade if it specializes in the production of those goods that are relatively cheaper to produce in that country, that is, at a lower opportunity cost. In this case, even countries with absolute higher levels of production costs for both goods can benefit from the trade exchange. Consider the example of Ricciardo's comparative advantage.
Suppose that the production of wine and cloth in England and Portugal is carried out in accordance with individual costs.
Amount of labor (in units) required for production:
The example shows that Portugal has an absolute advantage in all types of goods; it can produce both 1 barrel of wine and 1 piece of cloth cheaper. However, it is the wine trade that is profitable for Portugal, since its advantage in wine production is higher than in wine production. Differences in comparative advantage allow each nation to gain in exchange.
By selling 1 barrel of wine, which cost 80 units, for 120 units in England, and buying cloth there, the Portuguese company will receive 120/100 = 1.2 units. cloth If a similar amount of labor (80 units) were used to produce cloth in Portugal, it would yield 0.9 (80/90) units. cloth Thus, Portugal's gain will be 0.3 pcs. cloth
England also benefits from foreign trade. By specializing in the production of cloth, she would be able to purchase 9/8 of a barrel of wine if she successfully sold it in Portugal, compared to the 5/6 of a barrel she would have received if she had produced the wine herself. England's gain in this case will be (9/8 – 5/6 = 7/24) 0.29 barrels of wine.
Let's illustrate the principle of comparative advantage using the production possibilities curve.
Let's assume that the world economy consists of two countries: Poland and Ukraine. Each of them is capable of producing both wheat and coal. Moreover, if Poland directs all its resources to the production of wheat, it will be able to produce 60 million tons of it, and if to produce coal, then its production will be 40 million tons. For Ukraine, this alternative looks like: either 30 million tons of wheat, or 15 million tons of coal.
Production cost ratio for Poland:
1t of coal = 1.5t of wheat, and 1t of wheat = 2/3t of coal.
Production cost ratio for Ukraine:
1t of coal = 2t of wheat, and 1t of wheat = 0.5t of coal.
Obviously, coal production costs are lower in Poland. To produce 1t of coal, Poland must give up 1.5t of wheat, and Ukraine – from 2t. On the other hand, the opportunity costs of wheat production are lower in Ukraine – 0.5 tons of coal versus 2/3 tons of coal in Poland. This means that Poland has a comparative advantage in coal production and should specialize in it. And Ukraine has a comparative advantage in wheat production and should specialize in it.
In the case of countries specializing in the production of that product for which it has lower opportunity costs, the largest total volume of production will be obtained. In our example, 40 million tons of coal and 30 million tons of wheat.
However, consumers in each country will want both coal and wheat. Therefore, specialization creates the need for trade in these two products. The coefficient of exchange of goods will be within the following limits: 1.5 tons of wheat 1 ton of coal 2 tons of wheat.
If 1 ton of coal is exchanged for 1.5 tons of wheat, Ukraine will receive the entire gain. If 1t of coal is exchanged for 2t of wheat, Poland will receive the entire gain. The exchange rate of 1t of coal for 1.75t ((1.5+2)/2) of wheat is equally beneficial for both countries. The actual exchange rate will depend on the relationship between global supply and demand for these goods.
Gains from trade.
Let us assume that the international exchange rate is 1t of coal = 1.75t of wheat. Trading on such conditions allows us to introduce into the analysis, in addition to the production possibilities line, the trade possibilities line. The direct trade opportunity line shows the choices a country has when specializing in one product and exchanging (exporting) it for another product. For example, Ukraine, specializing in the production of wheat, can produce 30 million tons of wheat in accordance with its production capabilities. By exchanging this amount of wheat for coal, Ukraine can receive 30/1.75 = 17.1 million tons of coal. All possible combinations of two products that a country may have in the case of specialization and trade will be on the line connecting these points: 30 tons of wheat and 17.1 tons of coal. The trade possibility line lies above the production possibility line.
Thus, by taking advantage of international specialization and trade, both Ukraine and Poland can exceed the production volumes determined by their domestic production capabilities. For example, Ukraine can move from point A on the domestic production possibilities line to point B on the trade possibilities line (Fig.).
When considering a conditional example of the specialization of Poland and Ukraine, we did not take into account the effect of the law of increasing opportunity costs. At the same time, with an increase in wheat production, Ukraine will have to use less and less suitable resources for this. This will lead to increased costs - the refusal to produce more and more coal for each additional ton of wheat. This rising cost effect sets limits to specialization.
Rice. 9.1 Trading Opportunity Line.
Overall, through free trade, the world economy can achieve more efficient allocation of resources and higher levels of material well-being in each of the freely trading countries. A side benefit of free trade is that it stimulates competition and limits monopoly.
International trade - is the exchange of goods and services between sellers and buyers of different countries, mediated by currency exchange. From the point of view of an individual national economy, international trade takes the form foreign trade - aggregates exchange transactions goods and services of a particular country with other countries of the world.
International trade consists of two basic counter flows: export export and sale of goods (provision of services) abroad and import - purchasing and importing goods (receiving services) from abroad. Special types of import and export are re-export and re-import. Re-export - this is the export of goods previously imported from abroad that were not processed in a given country, as well as goods sold at international auctions, commodity exchanges, etc. Re-import - this is the import from abroad of goods previously exported from the country without any processing in the foreign country.
Objects international trade is goods (final products for industrial and non-industrial purposes, semi-finished products, raw materials, fuel, etc.) and services (business, financial, computer, information, transport, tourism, etc.).
Subjects international trade are:
Direct buyers and sellers of goods and services, which are represented by states, legal entities and individuals;
Resellers are firms and institutions that help speed up the sale of goods;
International and intergovernmental organizations that form the institutional environment and provide economic and legal regulation of trade.
International Trade Methods
In international practice, two main implementation methods export-import operations - trade without intermediaries And trade through intermediaries. Each method has its own advantages and disadvantages.
Direct conclusion of a transaction between the seller and the buyer allows you to save on paying for the services of an intermediary and reduces the risk of losses from possible dishonesty or incompetence. Direct contacts can contribute to better orientation of sellers to the changing requirements of buyers and the introduction of necessary changes in the characteristics of the product, etc. At the same time, firms resorting to direct trade are forced to incur costs for studying and analyzing sales markets, for creating sales centers in other countries networks, for the maintenance of lawyers for the preparation of agreements, transportation and implementation of customs formalities, etc. If the costs of direct trade exceed the benefits from it, it is advisable to resort to the services of intermediaries.
Resellers can be both legal entities and individuals, commercial basis carry out searches for foreign partners, preparation of documentation for signing contracts, credit and financial services, transportation, storage, insurance of goods, after-sales service, etc. The participation of intermediaries, first of all, frees manufacturers from selling goods, increases the efficiency of sales and, by reducing distribution costs, increases profitability of foreign economic transactions. Typically, specialized intermediaries respond more quickly to changes in market conditions, which also increases the efficiency of trade.
In the practice of international trade, the following types of intermediary operations are distinguished:
- dealerships, in which an intermediary trading company buys the goods from the manufacturer who resells them, acting on its own behalf and at its own expense, and bears all the risks of loss or destruction of the goods; goods are sold under dealer agreements distributors;
- commissions, in which the reseller sells and buys goods on his own behalf, but at the expense and on behalf of the guarantor, in an agreement with which the technical and commercial conditions of sale and purchase are stipulated and the amount of the commission is determined;
- agency, in which the intermediary acts on behalf of the principal and at his expense; representative agents carry out marketing research, advertising and PR campaigns, organize business contacts with importers, government and other organizations on which the placement of orders depends; agent-attorneys have the right, on the basis of a mandate agreement, to enter into transactions on behalf of the principal;
- brokerage, for which trading companies or individuals bring together sellers and buyers, coordinate their proposals, conclude transactions at the expense of the principal, acting on his behalf and on his own.
A special place among international resellers occupied by institutional intermediaries - commodity exchanges, auctions and trades (tenders).
International commodity exchanges They are permanent wholesale markets where the purchase and sale of homogeneous goods with clear and stable quality characteristics corresponding to a unified standardization system is carried out. According to their organizational and legal form, most exchanges are closed joint stock companies. Depending on the product range, exchanges are divided into universal And specialized. The largest in terms of transaction volumes are universal exchanges, where the purchase and sale of a wide range of various goods takes place. For example, on the Chicago Board of Trade exchange (more than 40% of the volume of US agreements) wheat, corn, oats, soybeans, soybean oil, gold, and securities are traded. On specialized exchanges, goods of a narrow range are sold and bought, for example, on the London Stock Exchange metals trade in non-ferrous metals - copper, aluminum, nickel, etc.
Sales of exchange-traded goods are mainly carried out without their delivery to the exchange, using samples or standard descriptions. In fact, on a commodity exchange it is not goods as such that are sold, but contracts for their supply. Transactions with real goods constitute a small share of the total volume of exchange transactions (12%). Depending on the delivery time, they are divided into transactions with immediate delivery (“spot”), when the goods are transferred from the exchange warehouse to the buyer within 15 days after the conclusion of the contract, and transactions involving the delivery of goods at a specific date in the future at the price fixed at the time of conclusion of the contract (forward transactions). The vast majority of exchange transactions are futures transactions. Unlike transactions on real goods, futures contracts provide for the purchase and sale of rights to goods at the price that is set at the time of the transaction between the seller and the buyer (or their brokers) on the exchange.
Exchange futures perform an important function of insuring the risk of losses from changes in prices of real goods - hedging. The hedging mechanism is based on the fact that changes in market prices for real goods and futures are the same in size and direction. Consequently, if one of the parties to the transaction loses as a seller of a real commodity, then he wins as a buyer of a futures contract for the same amount of commodity, and vice versa. Let's assume that a copper wire manufacturing company has signed a contract to supply a certain quantity in 6 months. She needs 3 months to complete the order. It is unprofitable to purchase copper 6 months before the order is completed: it will be stored in a warehouse for 3 months, which will require storage costs and the payment of additional interest on the loan for its purchase. At the same time, postponing its purchase is also risky, since market price copper may increase. Taking this into account, the company buys futures for the required amount of copper. Let the futures quote be 95.2 thousand dollars with the price of a real commodity being 95.0 thousand dollars. After 3 months, copper has risen in price, which also caused an increase in the futures price: the same amount of copper now costs 96.0 thousand dollars, and futures - 96.2 thousand dollars. By buying copper as a real commodity for 96.0 thousand dollars, the company loses 10 thousand dollars. But it sells the futures at 96.2 thousand dollars and thereby wins 10 thousand. dollars. Thus, the company has insured itself against losses due to price increases and will be able to receive the planned profit.
International auctions represent a form of public purchase and sale of goods based on price competition among buyers. The subject of auctions are goods that have distinct individual properties - furs, tea, tobacco, spices, flowers, racehorses, antiques, etc. Preparation for auction sales involves the formation of lots - batches of goods of uniform quality, each of which is assigned a number. Under this number, the lot indicating the characteristics of the product is entered into the auction catalog. General rule of all auctions - the lack of responsibility of the seller for the quality of the goods (the buyer himself sees the goods and knows what he is buying). Auctions are held on a predetermined day and time in a specially equipped room. The auctioneer announces the lot number, it starting price, and buyers make their offers regarding the price. The lot is sold to the highest bidder. The vast majority of auction sales are carried out precisely according to this scheme, which is called the “English auction”. In some countries, a price reduction method is used, which is called the “Dutch auction”: the auctioneer announces the highest price of the lot and, if there are no people willing to purchase the goods at this price, begins to gradually reduce her until the item is sold. The most famous are tea auctions in Kolkata (India), Colombo (Sri Lanka), Jakarta (Indonesia), antique auctions - Sotheby's and Christie's in London, fur auctions in Copenhagen (Norway) and St. Petersburg (Russia) .
International trading (tenders) It is also a competitive form of purchase and sale of goods, in which buyers announce a competition for sellers to supply goods with certain technical and economic characteristics. International tenders are the most common way of placing orders for the construction of production and non-production facilities, the supply of machinery and equipment, and the implementation of research and development design work, they are also used to select a foreign partner when creating a joint venture. All interested firms can take part in open tenders; in closed tenders, only those that have received an invitation to participate, usually these are well-known suppliers or contractors on the world market. Buyers create a tender committee, which includes representatives of the buying organization, as well as technical and commercial experts. After comparing the received proposals, the winner of the auction is determined, who offered the goods on more favorable terms for the buyer and on which the buyer signs the contract.
The most expressive modern trends in the development of international tender trade is an increase in the number of participants, an increase in the number of tenders for the construction of complex facilities, for new types of machinery, equipment, new technologies, engineering consulting services, a significant reorientation of priorities from price factors to non-price factors (the possibility of obtaining loans on preferential terms, opportunities further placement of orders and long-term cooperation, political factors, etc.).
