Exports and imports which generally define foreign trade are the exchange of goods and services between nations and countries. .
The term "export" means to carry out or sell abroad while as "import" is to carry in or buy from abroad. There are many reasons for exporting and importing. For example, country exports goods if it is one of the world's few suppliers, if it produces the merchandise at a lower cost than the other countries, or if its goods are in demand because of its outstanding quality. While as a country imports if it lacks that certain product such as importing coffee, or sometimes most imports purchased by countries, however, consists of goods similar to those produced locally but different in price and quality such as Italian clothes and clothes produced locally. However, we can see changes in exports and imports; this change is due to technological developments and the abolishing resources. .
There are many attitudes towards exports and imports which may vary between approval and disapproval. For example, the popular opinion usually favors exports over imports while as economists thinks that both are equally vital and important. The former thinks that imports may lower living standards and cause many crises such as unemployment while the latter thinks that it is more efficient and economical for a nation to import from abroad goods that are either cheaper or better quality, while the nation itself works to specialize on one good that would be compatible and competitive in the world market. .
There are many restrictions or policies imposed by governments such as export promotions or import restrictions. An example for the first is when governments promote or grant exporters cash or even exempt export industries from taxes in order to encourage exporting. While in the second case governments sometimes impose tariffs which is a tax on imports, or some countries put regulation to restrict certain imports in order to protect local productions.