Question

define export and import?
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Answer 1

Answer:

Imports are the goods and services that are purchased from the rest of the world by a country's residents, rather than buying domestically produced items. ... Exports are goods and services that are produced domestically, but then sold to customers residing in other countries.

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Answer 2

•Import•

An import in the receiving country is an export from the sending country. Importation and exportation are the defining financial transactions of international trade. In international trade, the importation and exportation of goods are limited by import quotas and mandates from the customs authority.

•Export•

An export in international trade is a good or service produced in one country that is sold into another country. The seller of such goods and services is an exporter; the foreign buyer is an importer. Exportation of goods often requires the involvement of customers authorities.

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