The world has become like a village now where everyone knows about each other. Information moves so much quickly and easily from one corner of the world to another. Same is the case with goods and services. When the economic aspect of globalization is under discussion, trade is an important agenda. Countries all around the world exchange surplus of their products in the form of goods and services which is called trade. So, which part of the society will be influenced more through the exchange of goods? Obviously the economy! Economy deals with the production and consumption of goods in a market. In this modern era, countries export their goods for their own profit as well as purchase resources from other countries to build trade relationships.
Trade among countries has created an international society where economic growth can be achieved through gaining benefit from other countries and in return providing to others benefit as well. Today, it is not possible for a country to stay in a vacuum and the economy does not grow in a vacuum. Trade is necessary. Import and export of goods benefit the country as a part of its GDP as well as trade is a necessary aspect to raise foreign reserves. A country will be trapped into crisis without taking part in the global economy.