are goods and services that are produced in one country and purchased by the residents of another country. Exports are goods and services made domestically and purchased by foreigners. Most countries exports are in industries where they have an advantage.
What is an export in international trade?
An export in international trade is a good produced in one country that is sold into another country or a service provided in one country for a national or resident of another country. The seller of such goods or the service provider is an exporter; the foreign buyers is an importer.
What are exports & why are they important?
In simple terms, exports refer to goods or services that are produced domestically and then sold to customers in other countries. This movement of goods and services across borders is a critical component of international trade and contributes to the economic growth of nations around the world.
