What is Import?

What is Import?
What is Import?

The word “import” is derived from the word “port,” since goods are often shipped via boat to foreign countries. Countries are most likely to import goods that domestic industries cannot produce as efficiently or cheaply, but may also import raw materials or commodities that are not available within its borders.

For example, many countries have to import oil because they either cannot produce it domestically or cannot produce enough of it to meet demand.

A good or service brought into one country from another. Along with exports, imports form the backbone of international trade. The higher the value of imports entering a country, compared to the value of exports, the more negative that country’s balance of trade becomes.

An import in the receiving country is an export from the sending country.

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.

 

What is Export?

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.

 

What is an absolute advantage?

What is an absolute advantage?
What is an absolute advantage?

A country enjoys an absolute advantage when it can produce a certain good more efficiently and/or at less cost than another country.

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.

Exporting 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.

Although it is common to speak of a nation’s exports or imports in the aggregate, the company that produces the good or service, as opposed to a national government, usually conducts exporting in terms of logistics and sales transactions. However, export and import levels may be highly influenced by government policies, such as offering subsidies that either restrict or encourage the sale of particular goods and services abroad.

How do countries decide what to export?

How do countries decide what to export?
How do countries decide what to export?

Most economists argue that countries produce and export goods in which they have an absolute or comparative advantage.

Exporting 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.

Although it is common to speak of a nation’s exports or imports in the aggregate, the company that produces the good or service, as opposed to a national government, usually conducts exporting in terms of logistics and sales transactions. However, export and import levels may be highly influenced by government policies, such as offering subsidies that either restrict or encourage the sale of particular goods and services abroad.

How can I know whether I need a permit to import or export wildlife specimens?

How can I know whether I need a permit to import or export wildlife specimens?
How can I know whether I need a permit to import or export wildlife specimens?

Import, export and re-export of any live animal or plant of a species listed in the CITES Appendices (or of any part or derivative of such animal or plant) requires a permit or certificate.

To find out whether a species is listed in the Appendices, you can check in the CITES-listed species database of this website, using either the scientific name or the common name of the species.

Alternatively, you can also check with the national agency (known as the “Management Authority”) of your country whether the species you are interested in needs a permit. They may be able to identify the species for you if you are not sure what it is.

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.

International trade is a complicated area of law to research because there are numerous levels of trade organizations and interactions. There are bilateral trade agreements, regional trade agreements and multinational trade agreements. Each of these agreements has its own history, policies and dispute settlement procedures.

Trade organizations established under the agreements have separate resources that can be searched. Furthermore, individual countries have their own policies and laws relating to international trade.

As an example, the United States Congress must pass legislation enacting international trade agreements before the United States can officially become a party. The national policies have to be researched individually and frequently separately from the resources relating to the international organizations.

What is a Countervailable Subsidy?

Foreign governments subsidize industries when they provide financial assistance to benefit the production, manufacture, or exportation of goods.

The relevant product types to include in the scope of an anti-subsidy investigation are those considered to be subsidized from a countervailable subsidy.

A countervailing duty shall be imposed in the appropriate amounts in each case, on a non-discriminatory basis, on imports of a product from all sources found to benefit from countervailable subsidies and causing injury, except as to imports from those sources from which undertakings under the terms of this Regulation have been accepted.

What is Dumping?

In international trade, the export by a country or company of a product at a price that is lower in the foreign market than the price charged in the domestic market. As dumping usually involves substantial export volumes of the product, it often has the effect of endangering the financial viability of manufacturers or producers of the product in the importing nation. Dumping is also a colloquial term that refers to the act of offloading a stock with little regard for its price.

What is international trade law?

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.