Explain import and export?



Answer:
Imports are the goods that a country buys from another country.
Exports are those goods that are sold for consumption to another country.

Generally, economists are more concerned with net exports, which are exports minus imports.
We import food inside the body and export urine and excrement to our restrooms.
EXPORTS are goods sold to foreigners. Imports are goods bought from foreigners. This is "visible trade", which is counted in the "trade balance".

"Invisible" exports and imports are SERVICES trades with foreigners.

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