Manufactured Goods

• Definition: Goods that have undergone processing, refining, or assembly.

  • Examples: Televisions, smartphones, automobiles, and textiles.
• Significance:

  • Developed nations, especially in North America, Europe, and parts of Asia, specialise in the production of high-end manufactured goods.
  • These products often have higher profit margins and contribute significantly to a country's GDP.
• Trade dynamics:

  • A major component of global trade, these goods are traded extensively across continents.
  • Trade agreements and tariffs play a crucial role in determining the dynamics of manufactured goods trade.