What is the difference between "export" and "import"?

The distinction between "export" and "import" lies in the movement of goods across national borders. When discussing exports, it refers specifically to the process of sending goods or services from one country to another for the purpose of selling them. This process increases the selling country's revenues and often supports local industries.

On the other hand, imports involve bringing goods or services into a country from abroad to be sold or used domestically. The importation of goods allows consumers and businesses access to products that may not be available locally or are more cost-effective when sourced from other countries.

Recognizing this clear functional difference is paramount for understanding international trade dynamics. The definition related to government approval is also important, but in the context of exports and imports, the core focus remains on the direction of goods—whether they are going out of or coming into the country.