The amount of International Trade a nation partakes in is a major factor in its economy. High rates of international trade can boost a nation's GDP by up to 22%.
International trade is generally good for an economy, due to the law of comparative advantage, effectively helping each country to produce what it is best at. Trade can be restricted by political problems with other countries, where arguments can lead to import tariffs and sanctions. In some cases, countries also indulge in 'protectionism' to defend politically sensitive industries against foreign competition.
Simulation values Edit
- Corruption, 0% to -50%, 4 inertia (scaling with International Trade)
- Currency Strength, 20% to -20%, 4 inertia
- Foreign Relations, -20% to 0%, 4 inertia
- Productivity, -20% to 20%, 4 inertia
- Financial Services Regulation, 0% to 20%, 8 inertia
- Foreign Language Curriculum, 0% to 10%, 16 inertia
- Import Tariffs, -10% to -45%
- Overseas Investment Restrictions, 0% to -20%, 4 inertia
- Regional Integration and Tariffs, 0% to 20%, 8 inertia
- Border Tensions, 0% to -20%, 8 inertia
- Civil Uprising, 0% to -30%, 4 inertia
- Poor Transport Links, -5% to -15%