Import/Export

Import/Export refers to the buying and selling of goods and services between countries. When a country imports, it brings in products from abroad to meet domestic demand, such as electronics, food, or clothing. Conversely, when a country exports, it sells its products to other countries, helping to generate income and strengthen its economy. This exchange supports global trade, promotes variety for consumers, and allows countries to specialize in goods they produce efficiently. Regulations, tariffs, and trade agreements often influence these processes, impacting costs and trade relationships.