International economics Essay Example | Topics and Well Written Essays - 2500 words

International economics - Essay ExampleHowever, the entire practice of import and export has been subjected to multiple trade policies and regulations to maintain global harmony and restrain a control over global trade practices. Over time and under specific conditions, the structuring of the trade practices has also evolved (Davis, 1995).Considering all these aspects, this news focuses on analysing the type of commodities imported and exported by Singapore between the periods of 2010 to 2013 to find their alignment with the established international trade practices. The discussion emphasizes multiple crucial facts regarding the international trade practice carried out by Singapore in developing a better competitive advantage. In addition to all these, considerable do of focus will also be laid on the tariff plans that are being imposed on the goods being imported in Singapore. confirmative facts such as worth of Singapore currency internationally will also be provided in the di scussion.A considerable amount of focus call for to be provided on the fact that majority of the goods that are being imported in Singapore are tax-free excluding some of the liquor based commodities. Moreover, by analysing the trading figures between the periods of 2010 to 2013, it can be identified that the trading pattern appears to book dropped to a certain extent during the period of 2013. The graph projected below will help to understand this difference in an appropriate manner.The above mentioned two graphs clearly stated about the import and the export patterns of Singapore at the present currency rate i.e. Singapore $1 $0.80 USD. Respectively, it can be stated that the export rate within the four fiscal years contain elevated, which has apparently brought in huge loads of foreign exchange in comparison to that of the imported rates regardless of the fact that the import rates have also elevated much. However, if the evaluation is conducted depending on the types of impo rt and