Utanríkisviðskipti
Utanríkisviðskipti refers to the exchange of goods, services, and capital across national borders. It encompasses all economic transactions that involve entities from different countries, including imports and exports. These activities are fundamental to the global economy, allowing countries to specialize in producing goods and services where they have a comparative advantage, thereby increasing efficiency and overall wealth.
The balance of trade, a key component of utanríkisviðskipti, measures the difference between a country's exports
International trade agreements, like those facilitated by the World Trade Organization (WTO), aim to reduce trade