Name:

(i) two major export items from your country;

(ii) two major import items to your country;

(iii) two major trading partners of your country.

(b) Highlight four benefits your country derives from trading with other countries.

(c) Identify three problems encountered by your country in international trade.

This question was very popular with the candidates and their performance was
Good. Many of the candidates were able to list export crops like cocoa, groundnut, beneseed, hides $ skin etc. They were also able to list import items like motor vehicles, refrigerators, air-conditioners etc. They were able to state the benefits of trading with other countries like:

•  fosters international co-operation;
• provision of new products;
• provision of foreign exchange;
• provision of employment;
• diffusion of ideas/innovations;
• growth of industry;
• generation of revenue to government;
• generation of income to individuals;
• encourages specialization in production.

Many of the candidates were also able to provide the problems of international trade such as:

• unstable world prices;
• inadequate capital;
• political instability;
• high cost of transportation;
• high tariff on goods;
• low demand for products;
• strained international relations;
• inadequate production of goods;
• inadequate foreign exchange;
• smuggling.