What are Exports and Imports?
- Exports are goods that are shipped off to other countries. Imports and exports allow for countries to specialize their economies.
- Imports are goods that are shipped into a country from other country. This is useful for acquiring resources not produced in the country itself.
- Trade balance is the difference between a country’s imports and exports over a period.
- Globalization is the spread of goods, jobs and financial products no across different countries and cultures.