EXPORT IMPORT

61.  EXPORT

IMPORT

1.      Meaning: It is part of foreign trade which involves movement of goods from one country to another country. 2.      Foreign Exchange: Exports help to earn foreign exchange. 3.      Balance of payment: Export earnings improve the balance of payment position of a country. 4.      Trade Balance: It reduces trade deficit or it can generate trade surplus 5.      India’s Main items: The main items of India’s exports are gems and jewellery, engineering goods, computer software etc.

It is part of foreign trade which involves movement of goods inside a country from other countries. Imports results in outflow of foreign exchange. Imports negatively affect the balance of payments of a country. It increase trade deficit. It can never generate trade surplus. India’s main items of imports are oil and petroleum products, edible oils etc.