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Define: Imports, Exports, Trade. | web4study
Define: Imports, Exports, Trade.
The commodities, raw material or manufactured products which country purchases from other countries to fulfill the requirements are called Imports.
Those products, raw materials or manufactured commodities which are surplus from the actual requirements of a country and it sells them to other countries and gains foreign exchange are called Exports.
Such organization which helps in producing commodities and services and it gives services to the society as well as gains profit for itself is called Trade.