Export and inport on basice of forien tread of information
Answers
Answer:
Importing means buying foreign goods and services by citizens, businesses and government of a country. ... Whereas, a country importing less than it's exports, create a trade surplus. Exporting means goods and services which are produced in one country are purchased in another country.
Explanation:
Importing and Exporting
Importing and Exporting are means of Foreign Trade. Foreign trade is carried out in goods and services – which includes imports, exports, and the balance of foreign trade – is presented separately for goods and for services. The total imports, exports, and balance of foreign trade are presented as summaries of goods and services.
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. Further, it is divided in two ways, which are,
Direct
Indirect
Every nation is blessed with certain resources, assets, and abilities. For instance, a few nations are rich in natural reserves, for example, petroleum products, timber, fertile soil or valuable metals and minerals, while different nations have deficiencies of these resources.