Increased revenues. ...
Decreased competition. ...
Longer product lifespan. ...
Easier cash-flow management. ...
Better risk management. ...
Benefiting from currency exchange. ...
Access to export financing. ...
Disposal of surplus goods.

International trade offers numerous benefits, driving economic growth and improving living standards worldwide. Firstly, it allows countries to specialise in producing goods and services where they have a comparative advantage, leading to higher efficiency and lower costs. Consumers enjoy access to a wider variety of products at competitive prices, enhancing their quality of life. Trade also fosters innovation as businesses compete globally, encouraging technological advancements. Additionally, it strengthens diplomatic ties between nations, promoting peace and cooperation. Economies benefit from increased employment opportunities, foreign investment, and expanded markets for domestic industries. Furthermore, trade helps stabilise supply chains, reducing shortages and price volatility. By integrating global markets, international trade boosts economic resilience, drives development, and creates a more interconnected and prosperous world.