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1.3.Influenceofinternationaltradeonthenationaleconomy:macroeconomicapproach
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thegrossdomesticproductproduced.Tisismainlyduetoadiversifiedcommodi-
tystructureoftheconsumptionmodel.Meetingdomesticdemand,whichchanges
insuchaway,withasupplyofcommoditiesproducedentirelyathomeisbecoming
technicallyunreasonableandeconomicallyunprofitable.Importsallowthecountry
tobesuppliedwithproductsnotproducedathomeorproducedininsufficientquan-
tityorquality,andgoodsatlowerpricesandsuperiorquality.Whenchoosinggoods
andservicesexchangedcommercially,onetakesintoaccountdifferencesintheab-
soluteanddirectcostsofproduction.Products,whosecostsofproductionarehigh-
erthanabroadwillusuallybeimported,whereasthosewithlowercostsofproduc-
tionthanabroadwillbeexported.Itmustalsobekeptinmindthatforeigntrade,
throughitstransformativefunction,notonlyallowsthesubstantivestructuretoad-
justbettertothecountry’sconsumptionneeds,butmayalsoimpactdomesticprices.
Teonlyroleofexportinthiscaseistoprovidefundstopayforimports.Exported
goodscomefromvariousbranchesofthenationaleconomyandshouldbeproduced
insuchquantitiesastoexceeddomesticdemand.
Ifthecountryiswell-suppliedbyitsdomesticproduction,thentheconsumer,at
acertainstageofexpansionoftheconsumptionmodel,willexpecttheoffertodi-
versify(alsoasregardstheassortment).Hewillrespondfavourablytobeingable
topurchasethesameproductmadeathomeandabroad.Ten,thetransformative
functionofforeigntradeproducestheimportanteffectofimprovingthesociety’s
socio-politicalcontentment.
Inconsideringthetransformativefunctionofforeigntradeineconomicgrowth,
itisnecessarytopayattentiontoimportdependence,i.e.theshareofimported
goodsinthetotalyearlyproductiveuseorconsumptionofspecificgoodsinagiv-
encountry.Onthatbasis,itispossibletoestimatetowhatextentimportimpacts
thesubstantivestructureofthegrossdomesticproductproduced.Tisdependence
shouldnotbetoohigh,asitlimitstheautonomyofdecisionsmadebythestatead-
ministrationandbusinessentities.
Foreigntradeinitsresource-formingfunctioncompensatesfordomesticsav-
ingswhichareinsufficientfortheproductionneedsofthecountry.Inaneconomy
whichdoesnotengageinforeignexchange,thesesavingsconstitutethedifference
betweenthegrossdomesticproductandspendingonconsumption,whichhasbeen
presentedintheformulabelow:
GDP–C=S+I
Inanopeneconomy,foreigntradeallowstemporarilyincreasingdomesticsav-
ingstoincludenetimports,i.e.thedifferencebetweenthevalueofimportsandex-
ports.Tisrelationshiphasbeenshownintheformulabelow:
I=S+(M–X)
Tesurplusofimportoverexportis,infact,foreigncreditwhichwillhavetobe
repaidinthefuture.Tecountry’stemporarilyincreasedfinancialresourcesshould
