Exports and Imports

Exports are goods and services that a country sells to other countries, boosting its economy by bringing in money. Imports, on the other hand, are goods and services that a country buys from abroad, which satisfy local demand and can sometimes be cheaper or of better quality than domestic products. The balance between exports and imports is crucial for a country's trade balance, impacting its currency value and overall economic health. A country aims to export more than it imports for a positive trade balance, known as a trade surplus.