Trades

Trades refer to the act of buying, selling, or exchanging goods and services within an economy or across borders. Trade supports specialization and access to a wider range of goods. The term can also denote skilled occupations known as the trades, such as carpentry, plumbing, electrical work, and masonry, which are often learned through apprenticeships and licensing.

In international economics, trade is influenced by comparative advantage, terms of trade, tariffs, quotas, and logistics. Countries pursue welfare gains through specialization and agreements, including free-trade areas and the World Trade Organization. Global trade patterns reflect technology, transportation, and policy choices, and are organized through import and export flows, supply chains, and exchange-rate movements.

Trade transactions involve negotiation, contracting, standards, payment, and settlement. Markets range from local markets and stock exchanges to digital platforms. In financial contexts, trades are executed with attention to settlement and clearing to manage counterparty risk and ensure timely delivery of instruments.

Skilled trades require hands-on training and often formal certification. Apprenticeships blend on-the-job learning with classroom instruction. Unions and professional associations commonly support workers, set standards, and negotiate wages and working conditions. Demand for the trades depends on infrastructure investment, housing, and broader economic activity.

Recent developments include electronic commerce, global supply chains, automation, and growing emphasis on sustainable and fair-trade practices. These trends influence both how goods and services are traded and how those trades are regulated, standardized, and valued across economies.