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Countries trade to get goods and services they can't easily produce themselves, or to get them more cheaply. For example, the UK's aerospace sector exports a lot, earning money and specialising in what it does best, while importing other things it needs. This specialisation makes everyone better off.
Stories that explain this
UK aerospace and defence added £46.8bn to economy last yearQuestions this opens up
What is specialisation? Why do countries have different costs? What are trade barriers?Related explainers
What is a trade surplus? How defence spending affects you What is 'economic contribution'? How do exports help? Global defence spending trends Jobs in aerospace and defence What is a skilled workforce? How do skills boost exports?The full catalogue
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