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10 cards from this deck
Exchange of goods, services, capital, labour & information
Trade of goods, services, capital, labour & info between countries
Specific items (goods & services) that countries exchange
(Value of exports / Value of imports) × 100
Balanced trade - equal value of imports and exports
Favourable trade - earn more from exports than spend on imports
Unfavourable trade - spend more on imports than earn from exports
Mineral fuels & oils (over 23% of major traded goods)
Only 3 out of 10 (so ~3/4 are processed/manufactured)
LEDCs export raw materials; MEDCs export processed goods
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