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DEFINITION of 'Export'

A function of international trade whereby goods produced in one country are shipped to another country for future sale or trade. The sale of such goods adds to the producing nation's gross output. If used for trade, exports are exchanged for other products or services. Exports are one of the oldest forms of economic transfer, and occur on a large scale between nations that have fewer restrictions on trade, such as tariffs or subsidies.

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BREAKING DOWN 'Export'

Most of the largest companies operating in advanced economies will derive a substantial portion of their annual revenues from exports to other countries. The ability to export goods helps an economy to grow by selling more overall goods and services. One of the core functions of diplomacy and foreign policy within governments is to foster economic trade in ways that benefit both parties involved.

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RELATED FAQS
  1. Is Japan an emerging market economy?

    Japan is not an emerging market economy. Emerging market economies are characterized by low per capita incomes, poor infrastructure ... Read Full Answer >>
  2. How can a nation adopt an export policy based on the economies of scope?

    A nation as a whole can adopt an export policy based on the economies of scope by focusing production on goods and services ... Read Full Answer >>
  3. To what extent does government regulation impact the electronics sector?

    Many electronics sector companies are tightly regulated. Environmental and product quality regulations are common around ... Read Full Answer >>
  4. How does the price of oil affect Venezuela's economy?

    The price of oil is one of the most heavily watched trends in economics, as it has an effect on the economies of every nation ... Read Full Answer >>
  5. What country is the world's largest exporter of goods?

    China has been the world's largest exporter of goods since 2009. Official estimates suggest Chinese exports amounted to $1.9 ... Read Full Answer >>
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