International Trade : Impact in Economic Growth

As the rise in international trade has driven this growth, recent decades have seen rapid growth in the world economy. The increase in business is, in turn, the result of both technological developments and concerted efforts to reduce trade barriers. Some developing countries have opened their economies to take all advantage of the opportunities for economic growth through trade, but many still need to. The remaining trade barriers in industrial countries are concentrated in the agricultural products and labor-intensive manufactures in which the developing countries have a more comparative advantage. Further trade liberalization in these areas, mainly by industrial and developing countries, would help the poorest escape from extreme poverty while benefiting the industrial countries