TRADING FAVORITES GRADES 7-12. Why would you consider trading something you have for something someone else has? Why do countries trade with one another?

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Presentation transcript:

TRADING FAVORITES GRADES 7-12

Why would you consider trading something you have for something someone else has? Why do countries trade with one another?

AN ABSOLUTE ADVANTAGE : A county or countries that produce goods that other countries cannot produce themselves has an Absolute Advantage in trade.

A COMPARATIVE ADVANTAGE: When one country can produce a product or service more efficiently than other countries, they hold a comparative advantage.

COMPETITIVE ADVANTAGE: A market may be created based on a real or perceived advantage. Real differences may be difficult, if not impossible to detect. This perceived advantage gives a country a competitive advantage.

FACTORS THAT INFLUENCE TRADE Climate and Seasons Economic reasons Geographic proximity Consumer demands Cultural Practices Resource availability Research and technology Severe natural and ecological events

2011 Top Ten Agricultural Export Partners 1Canada18.9 Billion 2China18.8 Billion 3Mexico18.4 Billion 4Japan14.1 Billion 5European Union Billion 6Korea, South7.0 Billion 7Taiwan3.6 Billion 8Hong Kong3.3 Billion 9Indonesia2.8 Billion 10Turkey2.5 Billion

2011 TOP AGRICULTURAL IMPORT PARTNERS 1Canada18.9 Billion 2European Union Billion 3Mexico15.8 Billion 4Indonesia4.3 Billion 5Brazil4.1 Billion 6 China4.0 Billion 7Australia2.3 Billion 8Chile2.3 Billion 9Colombia2.3 Billion 10New Zealand2.0 Billion

TOP 25 EXPORT COMMODITIES/PROCESSING LEVEL 1.Soybean Bulk 2.Corn Bulk 3.Wheat – unmilledBulk 4.Cotton Ex LinterBulk 5.Other Feeders & fodderSemi-processed 6.Pork Fresh/FrozenProcessed HVP** 7.Beef & Veal Fresh/FrozenProcessed HVP 8.Misc Horticulture ProductsProcessed HVP 9.Chickens Fresh/FrozenProcessed HVP 10.Other Grain ProductsProcessed HVP ** HVP – High Value Product

TOP 25 EXPORT COMMODITIES/PROCESSING LEVEL 11.Soybean MealSemi-processed HVP 12.AlmondsRaw 13.Rice-Paddy MilledBulk 14.Other Veg Oils/WaxesSemi-Processed HVP 15.Related Sugar ProductsSemi-processed 16.Essential OilsProcessed HVP 17.Nonfat Dry MilkProcessed HVP 18.Other Dairy ProductsProcessed HVP 19.Seed Field/GardenProcessed HVP 20.Beverages Excluding JuiceProcessed HVP 21.Other Veg ProductsProcessed HVP 22.Soybean OilSemi-Processed HVP 23.WineProcessed HVP 24.ChocolateProcessed HVP 25.Bovine Hides – WholeSemi-Processed HVP