Define bilateral trade.

Bilateral trade refers to the exchange of goods and services between two countries. This type of trade involves imports and exports between the two nations, with each country benefiting from the exchange of goods and services. Bilateral trade agreements are often negotiated between countries to facilitate and regulate trade between them.

Bilateral trade refers to the exchange of goods and services between two countries directly, without involving any third parties or intermediaries. It encompasses imports and exports between the two specific nations, and each country mutually benefits from the exchange based on comparative advantages, trade agreements, and economic needs.