Trade records are official documents that track the buying and selling of goods and services between businesses or countries. They include details such as the type of product, quantity, price, and the parties involved in the transaction. These records help ensure transparency and accountability in trade practices. Governments and organizations use trade records to analyze economic activity and monitor trade balances. They can also assist in enforcing regulations and tariffs. By maintaining accurate trade records, countries can better understand their economic relationships and make informed decisions about trade policies and agreements, such as those involving free trade agreements.