Import Export: In trade, when things bought from other country or state it is called import and when goods are sold to other country or state, it is,called export.
Import-export is very important for the development and improvement of national economies and local life because all states or countries have the necessary resources and skills to produce certain goods and services.
Every item is produced under a particular geographical and environmental condition. Special natural resources, other skills and sometimes special techniques are also required for the production of things, which is not necessarily available everywhere.Therefore, the things which are produced in a particular place are exported and the things which are less produced are imported.