Export and import are two essential elements of international trade. Export refers to selling goods and services produced in one country to other countries, while import means buying goods and services from other countries and bringing them into the country.
Export and import bring many benefits to countries. Firstly, exports allow a country to take advantage of its comparative advantages. Each country has the ability to produce goods and services based on its natural resources, technical expertise, and labor force, enabling them to be the best supplier in the global market. On the other hand, imports allow a country to meet its domestic needs that are not available locally.