Question

8. What exports dominated international markets?

Answer 1

Answer:

Exports are incredibly important to modern economies because they offer people and firms many more markets for their goods. One of the core functions of diplomacy and foreign policy between governments is to foster economic trade, encouraging exports and imports for the benefit of all trading parties.

According to research firm Statista, in 2017, the world’s largest exporting countries (in terms of dollars) were China, the United States, Germany, Japan, and The Netherlands. China posted exports of approximately $2.3 trillion in goods, primarily electronic equipment, and machinery. The United States exported approximately $1.5 trillion, primarily capital goods. Germany's exports, which come to approximately $1.4 trillion, were dominated by motor vehicles—as were Japan's, which totaled approximately $698 billion. Finally, The Netherlands had exports of approximately $652 billion.

Explanation: