Explained in plain English
Why do countries trade?
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?This explainer came from a news story
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