In general, both import and export trade and international trade contain the circulation of goods between countries. In order to better explain their differences, we may first understand their concept.
International trade refers to the exchange of goods and services between different countries or regions. Sometimes we called foreign trade. It includes a country (region) and another country (region) exchange between the goods, labor and technology exchange activities. This trade consists of two parts: import and export. Therefore, International trade is an international shift in goods and services, which is also called world trade. It’s consist of two parts: the import trade and export trade.
Import and export trade refers to the exchange of services between different countries or regions. In the country (region) that is imported into goods or services, is the import; for the country (region) where the goods or services are exported, it is the export. This began development in the slave society and feudal society. Until the capitalist society, the development is more rapid. Its nature and effect are determined by different social systems.
Generally, the concept of import and export and international trade have some similarities, however, the difference between import and export trade and foreign trade have been divided into two sides.
On the one hand, some experts believe that from a certain point of view, foreign trade or international trade refers to the world of goods, services and elements of the exchange between the activities. The international trade is the division of labor between countries, reflecting the world economic coexistence with each other. From the national point of view, it can be called foreign trade.
On the other hand, foreign trade refers to a country (or region) with other countries (or regions) exchange of goods, technology and services. Therefore, when referring to foreign trade to specify a specific country. Such as China’s foreign trade, etc.; some islands such as the United Kingdom, Japan, also known as foreign trade for overseas trade.