Question

Impact of low cost imports in our economy and environment

Answer 1

Explanation:

If it imports less than it exports, that creates a trade surplus. ... First, exports boost economic output, as measured by gross domestic product. They create jobs and increase wages. Second, imports make a country dependent on other countries' political and economic power.

Answer 2

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Imports are foreign goods and services bought by residents of a country. Residents include citizens, businesses, and the government. It doesn't matter what the imports are or how they are sent. They can be shipped, sent by email, or even hand-carried in personal luggage on a plane. If they are produced in a foreign country and sold to domestic residents, they are imports.Even tourism products and services are imports. When you travel outside the country, you are importing any souvenirs you bought on your trip.

Balance of Trade: Favorable Versus Unfavorable

The balance of trade is the value of a country's exports minus its imports. It's the most significant component of the current account. That also makes it the biggest component of the balance of payments that measures all international transactions.

The trade balance is the easiest component to measure. All goods and many services must pass through the customs office.

The current account measures a country's net income earned on international assets. The current account also includes trade balance plus any other payments across borders.

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