CHAPTER 30
Imports
30.1 WHAT IMPORT MEANS?
Imports are defined as goods produced outside the boundaries of one country, which are then purchased by that country. Together with exports, imports represent the keystone of foreign trade. Demand for imports depends on economic conditions in the buying country, as well as the exchange rate and relative prices.
Why do we import?
Imports are important for the economy because they allow a country to supply non-existent, scarce, high cost or low quality of certain products or services, to its market with products from other countries.
Are imports good for the economy?
A high level of imports indicates robust domestic demand and a growing economy. If these imports are mainly productive assets, such ...
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