Import vs. Export

The main difference between import and export is that import refers to the purchase of the goods and services from other countries to the homeland while the export refers to selling goods and services from the home country to other countries.

Key Differences

Import at a high level shows a booming domestic demand, which indicates that the economy is growing. As against, the high level of export represents a trade surplus, which is good for overall growth of the economy.

Janet White

Mar 23, 2019

Import appears, when domestic companies buy products abroad and bring them to a domestic country for sale while export appears when the domestic companies sell their products or services abroad.

The main idea in the back of importing the goods from another country is to fulfill the demand for a particular product which is not present or in shortage in the home country. On the other hand, the elemental reason for exporting goods to another country is to increase the overall existence or market coverage.

Janet White

Mar 23, 2019

The level of import directly turns to the exchange rate of the local currency; on the other hand, The level of export strictly connected with the exchange rate of local currency.

If your local currency is weak, then the import level decreases, and if your local currency is strong, then the export level decreases.

Comparison Chart

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The term is expressing buying of goods and services from other countries to the home country.

The term is expressing the selling of goods and services from home country to other countries.

Appears

Import occurs, when domestic companies buy goods abroad and bring them to a domestic country for sale.

Export occurs when domestic companies sell their products or services abroad.

Objective

To fulfill the demand for goods and services not present or in the home country.

To raise the global presence or market coverage of the domestic goods or services.

Happens

Happens when another country has an advantage.

Happens when we have the advantage.

Harlon Moss

Mar 23, 2019

Represent

High level of import is a sign of strong domestic demand.

High level of export is a sign of a trade surplus.

Harlon Moss

Mar 23, 2019

Effect on Trade

A trad loss occurs when a nation imports more than it exports.

A trading profit occurs when a nation exports more than it imports

Samantha Walker

Mar 23, 2019

Import and Export Definitions

Import

To bring or carry in from an outside source, especially to bring in (goods or materials) from a foreign country for trade or sale.

Export

To send or transport (a commodity, for example) abroad, especially for trade or sale.

Import

(Computers) To receive (data) into one program from another.

Export

To cause the spread of (an idea, for example) in another part of the world; transmit.

Import

To carry or hold the meaning of; signify

Had trouble understanding what the strange word imported.

Export

To send (data) from one program to another

"You'll need to export your spreadsheet file into a desktop publishing program" (Jon Pepper).

Import

To express or make known

The news imported by their letter.

Export

To use an application to store (data) on disk, usually for use by another program.

Import

To betoken or indicate

A high inflation rate importing hard times for the consumer.

Export

To send or transport abroad merchandise, especially for sale or trade.

Import

Something imported

Levied a tax on imports from overseas.

Export

Exportation.

Import

The act or occupation of importing goods or materials.

Export

Of or relating to exportation or exports.

Import

Meaning; signification

The import of his statement is ambiguous.

Export

(countable) Something that is exported.

Oil is the main export of Saudi Arabia.

Import

Importance; significance

A legal decision of far-reaching import.

Export

(uncountable) The act of exporting.

The export of fish is forbidden in this country.

Import

(countable) Something brought in from an exterior source, especially for sale or trade.

Export

(transitive) To carry away.

Import

(uncountable) The practice of importing.

Export

(transitive) To sell (goods) to a foreign country.

Japan exports electronic goods throughout the world.

Import

(uncountable) Significance, importance.

It was a matter of great import.

Export

(transitive) To cause to spread in another part of the world.

Import

A foreigner playing in a sports league.

Export

To send (data) from one program to another.

Import

(transitive) To bring (something) in from a foreign country, especially for sale or trade.

Export

(transitive) To put up (a child) for international adoption.

Import

(transitive) To load a file into a software application from another version or system.

How can I import files from older versions of this application?

Export

To carry away; to remove.

[They] export honor from a man, and make him a return in envy.

Import

(intransitive) To be important; to be significant; to be of consequence.

Export

To carry or send abroad, or out of a country, especially to foreign countries, as merchandise or commodities in the way of commerce; - the opposite of import; as, to export grain, cotton, cattle, goods, etc.

Import

(transitive) To be of importance to (someone or something).

Export

The act of exporting; exportation; as, to prohibit the export of wheat or tobacco.

Import

(transitive) To be incumbent on (someone to do something).

Export

That which is exported; a commodity conveyed from one country or State to another in the way of traffic; - used chiefly in the plural, exports.

The ordinary course of exchange . . . between two places must likewise be an indication of the ordinary course of their exports and imports.

Import

(transitive) To be important or crucial to (that something happen).

Export

Commodities (goods or services) sold to a foreign country

Import

(transitive) To mean, signify.

Export

Sell or transfer abroad;

We export less than we import and have a negative trade balance

Import

To express, to imply.

Export

Cause to spread in another part of the world;

The Russians exported Marxism to Africa

Import

To bring in from abroad; to introduce from without; especially, to bring (wares or merchandise) into a place or country from a foreign country, in the transactions of commerce; - opposed to export. We import teas from China, coffee from Brazil, etc.

Import

To carry or include, as meaning or intention; to imply; to signify.

Every petition . . . doth . . . always import a multitude of speakers together.

Import

To be of importance or consequence to; to have a bearing on; to concern.

I have a motion much imports your good.

If I endure it, what imports it you?

Import

To signify; to purport; to be of moment.

Import

Merchandise imported, or brought into a country from without its boundaries; - generally in the plural, opposed to exports.

I take the imports from, and not the exports to, these conquests, as the measure of these advantages which we derived from them.

Import

That which a word, phrase, or document contains as its signification or intention or interpretation of a word, action, event, and the like.

Import

Importance; weight; consequence.

Most serious design, and the great import.

Import

Commodities (goods or services) bought from a foreign country

Import

An imported person brought from a foreign country;

The lead role was played by an import from Sweden

They are descendants of indentured importees

Import

The message that is intended or expressed or signified;

What is the meaning of this sentence

The significance of a red traffic light

The signification of Chinese characters

The import of his announcement was ambigtuous

Import

A meaning that is not expressly stated but can be inferred;

The significance of his remark became clear only later

The expectation was spread both by word and by implication

Import

Having important effects or influence;

Decisions of great consequence are made by the president himself

Virtue is of more moment that security

Import

Bring in from abroad

Import

Indicate or signify;

I'm afraid this spells trouble!

Import vs. Export

Import is that formation of trade in which goods are acquired by a domestic company from other countries to sell them in the home market. On the other hand, export implies a dealing in which a company sells goods to other countries which manufactured domestically. Import is the process in which goods of the foreign country are brought to the home country, to resell them in the domestic market. Inversely, export implies the process of sending goods from the homeland to a foreign country for selling purpose. The main aim of import is to carry out the demand of goods and services that are lacking or not available in the domestic country while the main aim of export is to create more overseas income from the selling of domestic products and to increase the global presence of domestic products and services. Excessive import can hurt the domestic economy. On the other hand, excessive export can benefit the domestic economy since it increases the foreign income to the home country.

What is Import?

Imports are external products and services bought by a resident of a country. Residents consist of citizens, businesses, and authority. No matter what the imports are or how they consigned. They can be transported, sent by email, or even hand-carried in personal baggage on a plane. If they are originated in a foreign country and sold to home residents, they are imports. Import shows the bringing of foreign goods or services in another country, where the products will be processed, used, sold or exported. Generally, countries lean to import goods or services that they cannot produce at the same low cost or with the same capability that other countries can. Countries are most likely to import goods or services that their domestic industries cannot produce as efficiently or cheaply as the exporting country.

Countries may also import raw materials or commodities that are not available within their borders. For example, many countries import oil because they cannot produce it domestically or cannot produce enough to meet demand. Free trade agreements and tariff schedules often dictate which goods and materials are less expensive to import. Imports are important for the nation’s economy because they allow a country to supply nonexistent, scarce, high cost or low quality of certain goods or services, to its market with products from other countries. A country needs an import when the price of the goods or services on the world market is less than the price on the domestic market. Many small businesses import items that cannot be made in other countries economically. There are two basic types of import. i.e, Industrial and consumer goods and Intermediate goods and services.

What is Export?

Exports are the products and services produced in one country and purchased by residents of another country. It doesn’t matter what the products or service is. If the goods are produced domestically and sold to someone in a foreign country, it is an export. Businesses export commodities and services where they have a require advantage. That means they are preferable than any other companies at given that product. They also export things that emulate the country’s comparative advantage. Countries have comparative advantages in the products they have a natural ability to produce. Governments strengthen exports. Exports increase jobs, bring in higher wages, and increase the standard of comfort for residents. Many manufacturing firms began their global expansion as exporters and only later switched to another mode for serving a foreign market. Exports are an essential component of a country’s economy, as the sale of such goods adds to the producing nation’s gross output. It occurs on an international scale and is most common where nations have fewer trade restrictions such as taxes. Almost every large company in advanced economies extract a portion of dividends, sometimes quite substantial, from exporting to other countries. Exporting is one of the basics to help economies grow, and one of the key functions of foreign negotiation is the increase of trade between nations. Exporting is one way that businesses can vastly expand their potential market. There are many key results of exports which are;

Exports are one of the earliest forms of economic transfer and exist on a large scale among nations.
Exporting can boost sales and profits if they reach new markets, and they may even present an occasion to capture significant global market share.
Companies that export heavily typically exposed to a higher degree of financial risk.

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Import vs. Export

Key Differences

Comparison Chart

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