Exports
Exports are goods produced inside one country but bought by residents of another country another country. These goods and services don’t matter how big and small they are as long as they are manufactured or produced in country A but bought by people from country B .
The seller of the goods from the production country thus country A lets say is called the exporter and the buyer of the goods from country B is called the importer. Businesses export goods and services where they have a great competitive advantage to the organisation. That means they are better than any other companies at providing that product.
Most countries want to increase their exports. Their companies want to sell more. If they’ve sold all they can to their own country’s population, then they want to sell overseas as well. The more they export, the greater their competitive advantage. They gain expertise in producing the goods and services. They also gain knowledge about how to sell to foreign markets.
Most exported goods and services include the road vehicles and other transportation equipment, industrial machinery, petroleum and petroleum products, electrical machinery, office machines and data processing equipment, power-generating machinery, organic chemicals, precision instruments, and iron and steel.
Exports play a big role in the economy because exporting means Forex flowing into the country’s economy and also an improvement in the selling of the gross domestic products
Exports in a nation also develops employment to the citizens since there will be an increase in the sales of domestically produced goods which will mean that there will be an increase in the production of those exported goods and this will mean also the growth or the expansion of those production industries and the growth of an industry mean more employees thus more jobs will be created for the citizens. And more so adding up on the revenue generated by the government since more sales or the growth of the business means large amounts of tax to the government.
In conclusion it is for a countries advantage to have more exports than imports.
Exports