World Trade Flows in XX Century

Abstract

International trade represents the exchange of goods and services across state borders. In most countries, it forms a significant part of Gross Domestic Products (GDP). Although international trade has been presented throughout history, its economic, social, and political importance has increased in recent centuries, mainly due to industrialization, transport development, globalization, and multinational corporations. The work is planned methodologically to be explored through the graphic method, the method of index numbers and the average annual rate of change, and the trend method. The analysis of work is divided over the period. The first period is considered from 1948-1999, the second period from 1980-1999. In the 20th century, there were significant changes in the structure of international trade. By the 1960s, dominant products in international trade were primary products (raw materials), while from that period the international trade was dominated by industrial products.