Not only is international trade the backbone of the global economy, but it also has its own distinct history. Here are some fun facts about the history of international trade that are worth reading!

1. Transportation

Prior to the invention of the automobile, the primary modes of transportation were carriages, horses, rail, and ships. However, before the arrival of steam-powered ships, transporting goods across the Atlantic usually took several weeks.

As for truck transportation, in 1896, the first truck, which had a two-cylinder, four-horsepower engine that could only carry up to 3,300 pounds, was invented. The first paved concrete highway was also built in 1909, which meant truck and car speed limits of 7.5 and 20 miles per hour, respectively.

2. Technology

Advancements in the last century have transformed supply chain, logistics, communication technologies, and business operations immensely. Thanks to the advent of the internet, GPS satellites, barcode scanners, and credit cards, companies can now communicate instantly with international clients. In fact,
both companies and consumers alike can send documents with a single click and track shipments from all over the world.

3. Containerization

Containerization was first introduced in the 1950s, representing a significant breakthrough in global trade. Previously, unloading and loading merchandise at commercial ports was a labor-intensive and time-consuming task. Business owners were required to subsidize both the wages of the workers and the mooring of a ship at port. However, containerization has eased the process of loading containers at the production site as opposed to the quayside, aiding in the decongestion of previously crowded ports.

It is also critical that the regulations prohibiting the storage of certain items in these containers be strictly followed. However, another shocking fact about the industry is that usually only 5% of these containers are inspected.

4. Ocean Freight Accounts For 90% Of All Transportation

People have shipped goods across the ocean for many years now. Throughout history, global trade shipping has had a positive impact on many countries' relationships, leaving a global impact on their economic prosperity, social standards, and even political views. And it all began when they started attaching cargo to single logs for trade purposes. Today's container ships, which have come a long way since then, can accommodate the needs of various businesses. For example, some of the largest ships can carry over 20,000 TEUs. As a result, it's no surprise that ocean freight is responsible for 90% of all shipments, fueling the growth of many businesses around the world.

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