Introduction, advantages and disadvantages of import and export
Disadvantages Of Import-Export Business
.The cost of insurance, extra packaging, transportation, and protection can be up to the cost of the items
.Importation is not allowed in every country
.Obtaining license and documentation in foreign trade can be difficult and frustrating
.You may lose existing customers and the domestic market if you are careless
.Furthermore, domestic organizations may serve better than your firm outside the country
Advantages Of Import-Export Business
.Import-export is one of the easiest routes to enter the global trade
.It helps to generate substantial employment opportunities
.Also, it can help a country access the best technology available
.Import-export is very important for the functioning and growth of a nation because no country or nation is self-sufficient
.The risk of entering into international business is low regarding import-export
Introduction To Import-Export Business
.Import-export business is a business venture that involves trading goods, commodities, and services with local and international companies
.It is also known as foreign trade, which involves importing foreign products into a home country
.Also, it involves exporting home products or raw materials to other countries
.While import means to acquire or purchase, export is the selling of products