What is import and export short answer?

What is import and export?

Imports are any good or service brought in from one country to another, while exports are goods and services produced in the home country for sale to other markets. Thus, whether you're importing or exporting a product (or both) depends on your orientation to the transaction.

What is import and export answer?

Importing and Exporting Exporting refers to the selling of goods and services from the home country to a foreign nation. Whereas, importing refers to the purchase of foreign products and bringing them into one's home country.

What is export short answer?

Export refers to a product or service produced in one country but sold to a buyer abroad. Exports are one of the oldest forms of economic transfer and occur on a large scale between nations.

What is import trade short answer?

goods, services and products brought into a country and which were bought from another country.