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.