What are patterns of trade?
- Levels: AS, A Level, IB, BTEC Level 3, BTEC Tech Award
- Exam boards: AQA, Edexcel, OCR, IB, Eduqas, WJEC
In this topic video we look at the geographical and commodity pattern of trade using data from the 2019 World Trade Review. Patterns of trade evolve over time as countries develop and build new comparative advantage in both goods and services.
One key change in global trade is the rise in South-South trade. According to the WTO, from 2011, developing economies’ exports to other developing economies surpassed its exports to developed economies. “South-South” trade represented an estimated US$ 4.28 trillion or 52% of total developing economies’ exports in 2018.
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Teacher of Economics - Maternity Cover
Stonyhurst College, Clitheroe
Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.
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