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Question
Distinguish between the following:
Import trade and export trade.
Solution
| Sr No. | Points | Import trades | Export trade |
| 1. | Meaning | It refers to buying of goods and services from a foreign country. | It refers to the sale of goods and services to foreign countries. |
| 2. | Person involved | The person doing import trade is called an importer. | The person doing export trade is called an exporter. |
| 3. | Example | India is buying bananas from Sri Lanka. | India selling mangoes to Sri Lanka. |
| 4. | Stages | It includes the following stages:
|
It includes the following stages:
|
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