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An export is a good or service that is shipped from one country to another for sale or trade.

Selling exports adds to a nation’s gross output. Some of the largest companies and nations in the world derive considerable portions of their annual income from exports.

Exports expand a nation’s markets to global customers and boost its economy. Economies that can export more goods will typically grow faster than those that cannot.

Sometimes countries will put up barriers to restrict another country’s ability to export. For example, a country could place a tariff on a good it imports. A tariff is a tax on imports designed to make the imported good more expensive than the same product produced domestically.

Governments also use diplomacy and foreign policy to foster economic trade in ways that benefit both parties.

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