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Can countries benefit from trade even if they do not export much?

Business and Industry Services
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Lina T.
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Aug 23, 2019
Can countries benefit from trade even if they do not export much?

1 answer

Aug 23, 2019
As I know, some countries realize economic growth not just from the export of their own products, but from providing logistics services to cargo from and to other countries. A good example is Singapore, The Netherlands, and Belgium. Namely, Singapore’s economy heavily relies on Singapore’s role as a transhipment hub between East and West. At the same time, the Netherlands and Belgium serve as gateways to Europe, thanks to the Port of Rotterdam and the Port of Antwerp, the two largest ports in Europe. Much of the maritime cargo in Europe passes through Rotterdam or Antwerp, including cargo from/to all European countries. For example, cargo from Eastern European countries would first be transported to Rotterdam or to Antwerp, where it would subsequently be loaded on an Ocean Carrier travelling to other continents. This is a very common scenario in global trade.
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