Answer in detail:

Give an account of the world’s Major trading regions.

Major trading regions of the world include:

•Europe- the exports in this region is mainly the finished and semi-finished products. Imports are basically industrial raw materials. Europe is highly industrialized regions and shares about 30% volume of trade.

•North America- USA together with Canada export machinery, automobiles, chemicals, and other products.

•Latin America- together are Caribbean islands and central and South American countries. They are exporters of foodstuffs and raw materials and import manufactured goods.

•Africa- African countries are exporters of mineral ores and tropical raw materials. They import manufactured goods.

•Asia- they export raw materials and minerals. They export manufactured goods except Japan.

•Australia- Australia exports agricultural products and minerals. They import food grains, petroleum and machinery.

•Canada and Sweden - paper and pulp exporters.

•Middle east and gulf countries- oil exporters

•Malaysia- rubber and tin exporter.