A STATISTICAL ANALYSIS OF INTERNATIONAL TRADE COSTS FOR THE OECD COUNTRIES

Abstract

International trade is a very important issue for global economic growth and welfare of the global society There are many factors affecting international trade volume among the countries. In this study, it is analyzed international trade cost for OECD countries with the US for the year 2014. Statistical test results show that there is a significant difference in international trade cost at the sectoral level. It is concluded that international mean cost of agriculture is higher than manufacturing and total trading. On the other hand, international mean cost of total trading and manufacturing is very close to each other.