Question

Distinguish between the following:

Import trade and export trade.

Answer 1

Sr No.	Points	Import trades	Export trade
1.	Meaning	It refers to buying of goods and services from a foreign country.	It refers to the sale of goods and services to foreign countries.
2.	Person involved	The person doing import trade is called an importer.	The person doing export trade is called an exporter.
3.	Example	India is buying bananas from Sri Lanka.	India selling mangoes to Sri Lanka.
4.	Stages	It includes the following stages: Preliminary stage Pre- Import Stage Import Stage Post- Import Stage	It includes the following stages: Preliminary stage Pre-shipment stage Shipment stage Post-Shipment stage.