An import is a good or service brought into one country from another and, along with exports, are components of international trade.
 | | Term of the Day | Words to Know | | |  | | Import | | An import is a good or service bought in one country that was produced in another. Imports and exports are the components of international trade. If the value of a country's imports exceeds the value of its exports, the country has a negative balance of trade (BOT), also known as a trade deficit. | | Read More » | | SPONSORED BY INVESCO | | The Complete Guide to ETFs | | ETFs are becoming increasingly popular and soaring to new heights among investors. Invesco's insights can help you determine if these investment vehicles are right for you. | | Learn More » | | | Export | | Exports are goods and services produced in one country and sold to buyers in another. Exports, along with imports, make up international trade. | | Read More » | | | Balance of Trade | | The balance of trade is the difference between a country's import and export payments and is the largest component of a country's balance of payments. | | Read More » | | | Trade Deficit | | A trade deficit occurs when a country's imports exceed its exports. A trade deficit is not necessarily detrimental, because it often corrects itself over time. | | Read More » | | | Globalization | | Globalization is the spread of products, investment, and technology across national borders and cultures. In economic terms, it describes the loosening of barriers to international trade. | | Read More » | | | | | | CONNECT WITH INVESTOPEDIA | | | | | | | |
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