Virtual Water Trade: Reshaping the Global Economy through Water Resource Allocation and International Trade
By Yogesh S. Pandey — Certified Financial Wellness Coach | Trusted by 2,000+ investors Virtual Water Trade: Reshaping the Global Economy Introduction Virtual water trade refers to the concept of indirectly transferring water resources through the trade of goods and commodities . It measures the amount of water used in the production and supply chain of a particular product. When a country imports a product, it is essentially importing the water that was used in the production process. The concept of virtual water trade is based on the idea that water is a fundamental input in the production of goods and services. Different regions have varying water availability and efficiency in water use. Some countries with limited water resources may find it more economically viable to import water-intensive products rather than produce them domestically. The impact of virtual water trade on the global economy can be significant. Here are a few key points: Wa...