8 International Trade Pros and Cons. International trade allows everyone to have more access to the goods and services that are created or performed around the world. It develops a global economy where buying and selling are encouraged, but so are things like cultural awareness, ethnic diversity, and other non-business related benefits. International trade is the exchange of goods and services among countries. Total trade equals exports plus imports. In 2018, total world trade was $39.6 trillion. That's $20.8 trillion in exports and $18.9 trillion in imports. Trade drives 46% of the $86 trillion global economy. The Pros And Cons Of Globalization 1. Free trade is supposed to reduce barriers such as tariffs, value added taxes, subsidies, 2. The proponents say globalization represents free trade which promotes global economic growth; 3. Competition between countries is supposed to drive prices down. 4.