Trade and Apparel Industry Terms

Front

Apparel Industry

Back

The sector involved in the design, production, and marketing of clothing.

Front

Globalization

Back

The process of interaction and integration among people, companies, and governments worldwide, often resulting from international trade.

Front

Balance of Trade

Back

The difference between the value of a country's exports and imports over a certain period.

Front

Exports

Back

Goods produced in one country and sold to another.

Front

Imports

Back

Goods brought into a country from abroad for sale.

Front

Trade Deficit

Back

A situation where a country's imports exceed its exports.

Front

Trade Imbalance

Back

A disparity in the value of exports and imports.

Front

Quotas

Back

Trade restrictions that set a physical limit on the quantity of a good that can be imported into a country.

Front

Tariffs

Back

Taxes imposed by a government on imported or exported goods.

Front

World Trade Organization (WTO)

Back

An international body that regulates and facilitates international trade among countries.