• Resources, climates, skills, technology and production costs differ.
• Each country can produce some goods more easily and cheaply than others.

Globalisation involves the cross-border movement of investment, finance, technology and people, as well as trade, with production spread across countries.

The mnemonic SPICED means Strong Pound, Imports Cheaper, Exports Dearer.

• Machinery and vehicles
• Pharmaceuticals and chemicals
• Crude oil and refined fuels