You must have heard about the terms “exports” and “imports,” right? Especially if you’re involved in international trade. In almost every country, exports and imports are vital activities closely related to the economy, as every international trade transaction involves export and import activities, whether it’s domestic products being exported abroad or imported products coming into the country.
Here are some recent facts about exports and imports:
- Non-Oil Export Growth: This year has seen a significant increase in non-oil exports, such as agricultural products, manufacturing goods, and creative products. This indicates a better export diversification for the country.
- Digital Technology Adoption in Trade: More companies are adopting digital technology to facilitate export-import processes, including using online platforms to showcase products, explore new markets, and handle customs procedures.
- New Trade Agreements: Countries have entered into new trade agreements with several major trading partners, opening up new export opportunities and improving access to international markets for local products.
- Import Tariff Adjustments: Some countries have adjusted import tariffs to promote the importation of specific goods needed to support domestic industries.
- Regional Collaboration: There’s increased regional cooperation in export-import activities, with alliances being formed to facilitate trade among countries within a region.
Export and import activities have positive impacts on a country’s economy. The objectives of export-import activities include regulating domestic product prices, increasing profitability, earning foreign exchange, developing domestic industries, and creating new job opportunities.
Imports also have positive effects by helping meet domestic needs, especially for goods and services that cannot be produced locally, providing raw materials for domestic industries, and enhancing overall business potential. Additionally, through imports, countries can acquire state-of-the-art technology from abroad and maintain price stability domestically.
If you or your company require export-import services and want more information, please contact Maxx’s Group International at +62 812-2822-9384 or [email protected].