Import

The process of importing refers to the act of bringing goods, services, or technology into a country from another country. Importation can occur through various means such as sea or air transportation, land border crossing, or online transactions. Importing allows businesses to access a wider range of products and services, which can be beneficial for consumers and businesses alike. It also enables countries to specialize in industries where they have a comparative advantage, increasing their overall economic efficiency.

Export

The process of exporting refers to the act of sending goods, services, or technology out of a country to another country. Exportation is an important aspect of international trade and can have a significant impact on a country’s economy. Exports can provide a source of revenue for businesses and governments, and can also help to stimulate economic growth by creating jobs and increasing competitiveness. Effective export strategies can also help businesses to expand their customer base, gain access to new markets, and increase their market share.