Import: Import refers to the process of bringing goods or services into a country from another country. When a country purchases products or services from overseas suppliers or other nations, it is engaging in import activities. Export, on the other hand, refers to the process of selling goods or services produced within a country to other countries. When a company or individual sells products or services to international markets, they are engaged in export activities. Exports can range from agricultural produce and manufactured goods to specialized services, software, or intellectual property.