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"Explain the Preliminary Stage of Import and Export Trade"
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Answers
◾Importing means buying foreign goods and services by citizens, businesses and government of a country. No matter, how they are sent to the country.
◾Exporting means goods and services which are produced in one country are purchased in another country. It is produced domestically and sold to someone in a foreign country
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. Export of goods often requires the involvement of customers authorities.
purchased into one nation from another. The word “import” originates from the word “port” considering the fact that the products are frequently transported via ship to foreign countries. Similar to exports, imports are also the backbone of international trade