Business Knowledge

Ans:   The term export means shipping the goods and services out of the port of a country. Normally, Export means to send goods or services across national frontiers for the purpose of selling and realizing foreign exchange. Export is a function of international trade whereby goods produced in one country are shipped to another country for future sale or trade. In International Trade, "exports" refers to selling goods and services produced in the home country to other markets.

Exporting refers to the sale of goods or services produced by a company based in one country to customers that reside in different country.

Ans:   Imports are the products shipped into our country from other places. The definition of import is commodities, i.e. goods and services brought into one country from another country for the purposes of trade. Import is also a verb meaning the action of bringing in goods and services from another country.In other senses entirely, import can mean the following:importance or significancean inferred, underlying meaning, rather than one that is actually stated to indicate or signify something.

Importing is the purchase of goods or services by a company based in one country from sellers that reside in another.

Imports are the goods and services that are bought by residents of a country, but made outside of the country. It doesn't matter what the goods or services are, or how they are sent. They can be shipped, sent by email, or even hand-carried in personal luggage on a plane. If they are produced in a foreign country and sold to domestic residents, they are imports.

For example, tourism products and services are still imports, even though they are sold to tourists outside of their country. In a way, when you travel outside the country, you are importing those souvenirs.