Importing and Exporting are means of Foreign Trade. ... 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.

2. EXPORT IMPORT/ FOREGIN TRADE

3. FOREIGN TRADE : Trade among nations is a common occurrence and normally benefits both
the exporter and the importer. In many countries international trade accounts for more than 20
percent of their national incomes.

4. EXPORT: “Export are the goods and services produced in one country and purchased by
residents of another country”.

5. TYPES OF EXPORT:
 Indirect Export
 Direct Export

6. IMPORT : “ Import are foreign goods and services bought by residents of a country. Residents
include citizens, businesses, and the government”.

7. TYPES OF IMPORT:
Industrial and consumer goods
Intermediate goods and services

8. EXPORT/IMPORT PROCESS:

9.  ADVANTAGES OF EXPORT:
 Enrich domestic competitiveness.
 It develops communication between two countries.
 You can import the goods at very low cost from other countries and sell them with more profit.
 We can get some materials (which can’t be produced by us) only in some parts of the world.

10. DISADVANTAGES OF EXPORT:
 Need basic investment to start export business.
 Finding the importer from abroad is difficult and also it will take more time.
 Obtaining license and documents for export is difficult.

11. ADVANTAGES OF IMPORT:
 You can import the goods at very low cost from other countries and sell them with more profit.
 We can get some materials (which can’t be produced by us) only in some parts of the world.
 Through import, you can get those materials very easily

12. DVANDISATAGES OF IMPORT :
 Foreign goods are substituting the domestic goods' markets so the domestic
industries are eliminated.
 Trade deficit will cause the currency devaluation, inflation.

13. DUTIES OF EXPORT & IMPORT:
 Import duty is a tax collected on imports and some exports by a
country's customs authorities.
 A good's value will usually dictate the import duty.
 Depending on the context, import duty may also be known as a
customs duty, tariff, Import tax or Import tariff.

14. INDIA’S FOREIGN TRADE POLICY: Foreign trade in India includes all imports and exports to
and from India. At the level of Central Government it is administered by the Ministry of Commerce and
Industry. Foreign trade accounted for 48.8% of India's GDP in 2015.

15. IMPORTANCE OF EXPORT IMPORT/FOREIGN TRADE:
Exports and imports are important for the development and growth of national economies because not
all countries have the resources and skills required to produce certain goods and services.
Nevertheless, countries impose trade barriers, such as tariffs and import quotas, in order to protect their
domestic industries.

16. For more info please
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