Import Export refers to the process of buying and selling goods and services across international borders. When a country brings in products from another country, it is called importing. Conversely, when a country sells its products to another country, it is known as exporting. This trade allows countries to access resources and products that may not be available domestically.
The import export industry plays a crucial role in the global economy by promoting trade and economic growth. It helps businesses expand their markets and provides consumers with a wider variety of products. Additionally, it fosters international relationships and cooperation among nations.