c) importance of International Trade & Exports

• International trade is an important source of income for many countries
• what's Export-led economic growth?

  growth that occurs as a result of an increase in the sale of goods/services to foreign countries
• Net exports is a component of aggregate demand (AD)
• what do exports represent for developing countries?

  high percentage of annual AD and gross domestic product (GDP)
•  value of the exports rise, the real GDP rises significantly - and vice versa
• E.g of significant export-led economic growth?

  China from 1988 to the global financial crisis of 2008