Question.
Why do you think that volume of trade has increased over the decades?
(Class 12 geography, Fundamentals of Human Geography, Chapter-9. International Trade )
Answer.
At the beginning of the last century, trade consisted mostly of primary products, while the participation of the manufacturing and service sectors in trade has increased over the past few decades. This is the reason why the total volume of trade has increased.
Besides,
The newly emerging market in Asian countries like India has increased demand over the past few decades leading to increased trade.
The rapid development of transport and communication technology has reduced the distance and time of transport, thereby increasing trade.
Liberalization, globalization, and free trade policy have removed the bottlenecks in trade which have helped in the growth of trade.
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