05 January
What is an import

What is an import

The word "Import" means transporting one good or service or merchandise from one country to another country, in another formatting it means bringing an object or a service from another country to our home country. And "Import" is derived from "Port" as merchandises are most of the times shipped in a boat and is transported to another country overseas. This is the explanation of what is an import.

Imports and Exports are the economical backbone of the international trade. As Economic is being affected with the cost and value of exports as well as the cost and value of the imports. So if the value of imports to the country is higher than the value of exports from it, it means that this country economic is at risk and in a critical situation.

Why does a country import?

A country tends to import the service or the good that can't be produced in this country,  so that the domestic industries don't cover these products then the country has to import it in case of a high need for it.

what is an import

Imports are considered expenses on the country that must be lower than the earnings so that the economy does not be effected and the national income makes high rates.

For instance is the country cannot produce oil which is needed for sure, the country will import oil.  And even if the country produces oil but without enough quantity and they need more so they will import oil too.

But the free trade agreements on imports and facilities that provide cheap labor lead to decline in the manufacturing. This answers why is manufacturing affected badly from the year 2000 to 2007.

The matter is converted from importing because of a critical need for the service or merchandise to a reliance on other countries sources because of saving the domestic resources or loving the other countries material such as American and German cloth as well as French perfumes and Egyptian cotton.

This is related to international brand names too, as we all know – as per clothes per instance" that the international brands are the best sellers and most trending, even if they are not the highest quality!

For example, Egyptian cotton is known for its high quality, other countries imports the cotton clothes from Egypt and they are so happy for this" even if they have good cotton but this is the Egyptian cotton", though Egyptians tends to wear "tommy , polo, and  Zara " brands because of their international name too.

what is an import

This is not good for economy because a country should reduce its imports and try to increase the national income and improve the economic status by exporting high quality goods to other countries.

The too much imports are likely to make the country dependent, and this is not good for the country image between the international countries. And they must increase the reserves of foreign currency as this is how they pay for the imports, so this will affect the domestic currency value and interest rates.

And as per the imported goods they will definitely compete the domestic goods and the local companies can be in troubles especially small businesses. So by your too much imports you are defeating your local market!

What is an import alert?

The FDA's way of telling any country that the agency thinks your products are accompanied with safety problems is called an import alert.

So they will detain your goods at the border and this will cost your customers a lot of money. This happens whenever the FDA saw that your products are not suitable and may cause harm to somebody and  the refused shipment can be exported or destroyed  and in several cases FDA ask to seize the imports in customs.

Import license
the import license is a permit or allowance for importing specified quantity of specified goods or merchandises during a certain period and it is usually one year. This restrict outflow of foreign currencies to help countries improve balance of the financial situations and payments.

And this is a protection step that controls the entry of the products so that explosions or certain substances and firearms cannot be imported and enter your country for instance.

what is an import

You can individually import as a wholesaler or online customer, there are so many gates for importing and if you are willing to import and work as a wholesaler you will need to try first in small quantity and then import again bigger quantity because this will protect you from the risks and troubles you may face.

Importing from Asian countries is common and they offer so good prices, so that the wholesalers import accessories, clothes, toys, electrical stuff and mobile phones from these countries because the original cheap prices enable them to get high profit when they  begin to sell the imports to the domestic customers with moderate prices.

Also you can order some product online through online stores from China for instance, you will find the prices are cheap but you will face the risk of quality and you will pay a lot of costs for shipping and customs.

Instead of importing you should cooperate in manufacturing, first this will improve the economics of your country, second you will gain the honor of producing goods stamped with "Made in your country" and may these products be exported to other countries so your business name and identity will succeed, third you will decrease the expenses of imports and you will earn more earnings which affects the financial situation good and the national income as well.

The most important thing is being honor of your countries product, do not import unless you do not have to import. If the products you want to import exist in your company try to give a hand in improving it until you will be the reason of converting these products from imports to exports because of the high quality and this will raise you country both financially and economically.