What is the Meaning of: Import | Concept and Definition of: Import

Meanings, definitions, concepts of daily use

Import is a term that comes from the verb import (insert products or foreign habits in a country). This is the action to import goods or symbolic aspects of another nation. For example: «the Government plans to impose harsh conditions on the import of the footwear to not harm local producers», «the free importation promotes consumption since it allows to lower prices», "the importation of materials that are not produced in our country is necessary.
All of the imported also carries the designation of import: "The Venezuela has reduced imports by 12% over the last year", "Taking into account the import increased due to the exchange rate, the port infrastructure is more able to cope with the new needs".
It is for the State to control the import according to specific rules. The differences between economic conditions and the laws of each country can lead to distortions on the market and harm domestic producers. If a country subsidizes the production of a good X and this property is imported by a nation to lower prices, those who produce the well X in the importing country will be affected insofar as they will not compete.
Importation remains however important for access to goods that do not occur in the country or whose quality is lower. On the other hand, always in a logic of balance, by importing cheaper products, consumption is favoured, which makes economic development.
At the level of the national economy, the import can be funded through surplus (the country exports more importance), foreign capital revenues (through investments, tourism, etc.) or through the public debt.
Note: This translation is provided for educational purposes and may contain errors or be inaccurate.