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Question

Distinguish between Exports and Imports.

Solution
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Exports:
11. 'Export' means goods and services sold from domestic country to other countries.
2. The aim of export to create more foreign income and to increase global presence of domestic products and services.
3. India exports nearly 75007500 goods to nearly 190190 countries of the world.
Imports:
11. Import refers to buy goods and services from overseas producers.
22.The aim of import to fulfill the demand of goods and services which are lacking or not available in the domestic country
3. India imports nearly 6000 goods from 140 countries.

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