Author Profile

Legal India News Admin

Posted On by &filed under .


What is Export?

What is Export?

Export is the act of producing goods or services in one country and selling or trading them to another country. The term export originates from the Latin words ex and portare, meaning to carry out.

The counterpart to exporting is importing which is the acquisition and sale of goods from acquired from another country and selling them within the country.

A function of international trade whereby goods produced in one country are shipped to another country for future sale or trade. The sale of such goods adds to the producing nation’s gross output. If used for trade, exports are exchanged for other products or services.

Exports are one of the oldest forms of economic transfer, and occur on a large scale between nations that have fewer restrictions on trade, such as tariffs or subsidies.

International Trade Law includes the appropriate rules and customs for handling trade between countries. However, it is also used in legal writings as trade between private sectors, which is not right.

 


Leave a Reply

Be the First to Comment!

Notify of
avatar
wpDiscuz