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1) IT LEADS TO EXCESSIVE COMPETITION
2) IT ALSO INCREASES THE RISKS OF OTHER DISEASES FROM WHICH THE COUNTRY IS EXPORTING THE GOODS.

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1) REDUCE DEPENDENCE ON EXISTING MARKETS
2) EXTEND SALES POTENTIAL OF EXISTING PRODUCTS
3) MAINTAIN COST COMPETITIVENESS.

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1) EXTRA COSTS
2) FINANCIAL RISK
3)EXPORT LICENSES AND DOCUMENTS.

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1)INCREASING SALES AND PROFITS
2)REDUCING RISK AND BALANCING GROWTH
3)GAIN NEW KNOWLEDGE AND EXPERIENCE.

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Something is an import if it came in from abroad for sale, regardless of how it arrived. It may have come by post, ship, car, truck,

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Something is an import if it came in from abroad for sale, regardless of how it arrived. It may have come by post, ship, car, truck,

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An example of export is rice being shipped from China to be sold in many countries.

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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.

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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

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An import is a good or service brought into one country from another country as well as export; which is the process of taking product from one country to another country. The backbone of international trade is specially formed around the term import and export; because the act of international exchange of goods is a significant part of international trading. It is very necessary to balance the value of trading between importation and the amount of product leaving the country so that the host country will have a positive trade balance; else there will be negative balance of trade; which is a critical factor of economy growth and development.