Question

What is the term for goods that

Answer 1

The term for goods that your business ships to another country is known as Exports.

Export/ Exporting:

• The process by which companies from one country sell their goods and services to companies or consumers in a different country is known as Exporting.

• The exports, along with imports, make up international trade.

• They are incredibly important to modern economies as they offer people and firms many more markets for their goods.

• Exporting into foreign markets can reduce per-unit costs by expanding operations to meet increased demand.

• Also, the companies that export into foreign markets gain new knowledge and experience that may allow the discovery of new technologies, marketing practices, and insights into foreign competitors.