Trade theories Assignment Example | Topics and Well Written Essays - 1500 words

Trade theories - Assignment ExampleThe goods that atomic number 18 primarily exported by Syria argon petroleum products, crude oil, minerals, wheat cotton fibre, clothing, fruits, vegetables, meat and live animals. The upshots of Syria consists of transport equipments, livestock and food, paper, chemicals, machinery, electric power machinery, metal and metal products, chemical products and yarn. The import partners of Syria are China, Egypt, Saudi Arabia, Turkey, UAE, Russia, Lebanon and Italy (Younes 11-13).The trading partners and their concerned good and services gives a picture of Syrias trade conditions and trade relations with its partners. Syria has enhanced trade relations with Iraq by reopening pipelines for the export of oil. Syria also benefitted from economic policies implemented by China. Syria maintains a trading relation with India by importing wheat from it. Syrias geographical closeness with europium has been quite beneficial. The country was able to serve the hug e customer base of Europe (Russett 360-379).Syrias trade history reveals that the country always had import figures that were just about double the export figures. But both the import and export had similar growth trends. The imports and exports increased at a slow pace over time. This light-emitting diode to worsening of the balance of trade position of Syria. This trade patterns were seen before the 1970s. But after the 1970s, trade patterns started improving. There was a rapid expansion in the import and export figures since 1970s. In the 1980s, the trade imbalance widened further. Syria also started taking various measures concerning the budget and foreign exchange reserve. Syria started taking advantage of the higher revenues from oil in the 1990s. Finally in the beginning of 2011, Syria recorded a surplus in balance of trade (Syria Balance of Trade). The figure below gives some view of the movements in balance of trade over the time and also shows Syrias favorable trade condi tions that was prevailing at the onset of 2011.The