“International business is more than international trade”. Comment.

Yes, International business is more than international trade in the following ways:

a. a. The scope of international business is wider than international trade.

b. b. International trade consists of export and import of goods and is an essential component of the international business.

c. c. International business includes the international exchange of services of travel, tourism, warehousing, banking, insurance, etc. It also includes foreign investment, contract manufacturing and Overseas production of goods and services.

d. d. International trade is done by exporting of goods why international business is done by licensing, franchise, joint venture, contract manufacturing and establishment of wholly-owned subsidiaries.