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In the global economy there is a huge amount of competition between local products and services on the market. The competition between products now stretches between countries, rather than only within the local area, a scenario that has become more prominent with the globalization of countries that has been taking place for centuries. The initial appearance of globalization is debated however it is stated to have dated back to around 3000 years B.C. when the most basic international communications were made. The beginning of international trade is said to date back to the great movements of trade and empire across Asia and the Indian Ocean from the 15th century onwards. However in terms of a significant amount of everyday trade, it began in the 1970’s when international trade started to become a normal practice in the global economy and an accurate world trade ranking began to become a realistic possibility. In the modern day it is possible to measure a series of factors in an economy, in the 21st century in particular it is possible to measure a countries success on the trade market using a world trade ranking made from international trade statistics for a selection of countries internationally. For the first time in our history since the start of the globalization of the internet and national statistics we are able to conduct research and gather important information that makes a world trade ranking possible. Given the current level of globalization our world is now influenced by, the amount of national income a country makes is highly dependant on the trade of their local produce and international businesses, these figures affect the overall GDP which is why producing a world trade ranking would be hugely beneficial to a country in order to assess their strategy for economic growth. (Tom)
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