Patterns of Trade

Research task Choose 2 countries and create a report/ presentation on the patterns of trade of that country using comparisons and similarities. What do they export? What do they import? RULES: 1One country must be developed and the other developing 2You need data, statistics & images 3Research if this has been a constant pattern for your chosen country, or if it has changed in recent years (why do you think this change has come about) 4Is there a correlation between growth and globalisation?

EXPORTS: IMPORTS: In pairs… What are the main IMPORTS and EXPORTS to the UK?

Why Import what are the benefits?

In the past, the UK traded largely both with Europe and the Commonwealth. Since the UK joined the European Union in 1973, trade with the Commonwealth has declined as a proportion of total trade and trade with Europe, especially the countries that are members of the European Union, has increased proportionately. Trade with North America remains important. The EU now represents 59% of UK trade, trade with North America constitutes 16% of UK trade and trade with the rest of the world represents 13%.

Research What has been the impact of China & India on world trade patterns? What has been the reaction of developed countries?

Read through the following article: What do they argue causes changes in trade patterns? What do they argue increases trade? What are the trade patterns of mentioned countries/ trading blocs? What do you think protectionism is? What impact is it having?

s/OTS.aspx s/OTS.aspx Interactive database UK Patterns of Trade

Benefits of free trade… Why do we trade? htm htm

Free trade Advantages of free trade Specialisation leading to increased output Trade allows economies of scale (larger market to sell to) Lower price and increased choice Competition and innovation Disadvantages of free trade Risk – interdependence, over- reliance on trade, loss of control Unemployment (perhaps) Income inequality Environmental impact Culture