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

International economics - Essay moralHowever, the entire radiation pattern of import and export has been subjected to multiple make do policies and regulations to maintain international harmony and ensnare a control over international trade practices. Over time and under specific conditions, the structuring of the trade practices has also evolved (Davis, 1995).Considering all these aspects, this discussion focuses on analysing the type of commodities trade and exported by Singapore surrounded by the power points of 2010 to 2013 to bring forth 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 appendix to all these, commodious amount of focus will also be laid on the tariff plans that are being imposed on the goods being imported in Singapore. Supportive facts such as worth of Singapore coin i nternationally will also be provided in the discussion.A considerable amount of focus needs 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 have 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 preceding(prenominal) 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 cardinal fiscal years have promote, 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 import and