Meritnation experts what do you mean by import and export of goods what happen basically there I am confused i need handwritten explanation in a sheet of paper i need simple language what is meaning of Import and export of goods and what happen there basically why do we import and export goods this is also my confusion plz ans in a sheet of paper only so I can understand i need handwritten ans in a sheet of paper only as i do not understand in meritnation Platform at all i need in a paper plz
Dear Student,
The import of goods means buying goods from foreign countries. A particular country may not be able to produce all kinds of goods. So, it imports goods that it does not self-produce from other countries.
Export means selling domestic goods in foreign countries. Exporting goods helps in earning foreign currency. Without foreign currency, we cannot conduct international transactions and imports.
Regards,
The import of goods means buying goods from foreign countries. A particular country may not be able to produce all kinds of goods. So, it imports goods that it does not self-produce from other countries.
Export means selling domestic goods in foreign countries. Exporting goods helps in earning foreign currency. Without foreign currency, we cannot conduct international transactions and imports.
Regards,