1. International trade

2. DEPARTMENT OF ECONOMICS
ENGLISH FOR ECONOMICS IV
Instructor : Dr. Tseliga Theodora
Major : Tsavou Evaggelia S.R.N : 2536
Sinavelis Taxiarhis S.R.N : 2511
Siskas Konstantinos S.R.N : 2513

3. WHAT IS THE INTERNATIONAL TRADE
With the term international trade we mean the exchange of capital,good and services between countries.In most countries, international trade represents a significant share of GDP.

4. Crisis: in Greece & worldwide
The collapse of two Bear Stearns Hedge funds in 2007 reintroduces the world to an era of bank failures, a credit crunch, private defaults and massive layoffs.
The Greek crisis caused by a combination of structural weaknesses of the Greek economy along with a decade long pre-existence of overly high structural deficits and debt-to-GDP levels on public accounts.

5. EFFECTS OF GREEK CRISIS ON GREEK ECONOMY
the increasing tendency of inequality within countries.
the inequality in conditions of social protection, health,etc.
ecological urgent issues degradation

6. INTERNATIONAL TRADE
The severe contraction of world trade volume during the recent global crisis ,was a major blow to the global economy .
In the aftermath of the crisis,many governments in developed and developing countries contemplated or were pushed into using trade policy instruments, especially in the form of non-tariff measures (NTMs), to protect their domestic industries and producers.

7. Importance of international trade for Greek economy
An export is the sale of a home-made good or service abroad.
Despite the economic crisis in Greece, exports showed a significant increase.This increase is largely due to two factors :
• Increase in the competitiveness of Greek products as a result of the reduction of prices and cost of production factors in Greece
• Enhancement outward-orientation of Greek companies , through the exploration for new markets, given the recession in the domestic market
An import is a purchase of a good or service made abroad.
Imports remaining at almost the same levels as the previous year due to the restrictive economic policy implemented in 2012.

8. Main Export & Import partners
Turkey
Russia
Italy
Germany
Bulgaria
Saudi Arabia
Cyprus
Netherlands
USA
China
U.K
France

9. Main export & Import products
Food and beverages
Machinery
Industrial products
Fuel
Petroleum products
Food products
Chemical products
Vehicles for transportation

10. trade Positive effects : Expansion of consumers' potential
Comparative advantage
Mutual benefits
Increase of effectiveness
Economy’s growth
Negative effects :
Raise of unemployment
Inequality
Poverty

11. Thank you for your attention !!!