New Trade Goods Boost Economic Growth for Developing Nations
The study looked at how trading new or rarely traded goods affects international trade. They found that trading these goods plays a significant role in increasing trade between countries. For example, in NAFTA countries, this type of trade accounts for 10% of overall trade growth. In trade between the United States and Chile, China, and Korea, it makes up 26% of trade growth. However, when there are no major changes in trade policies or structures, the trading of new goods doesn't change much.