Exports
An export in international trade is a good or service produced in one country that is sold into another country. The seller of such goods and services is an exporter; the foreign buyer is an importer. Exports, along with imports, make up international trade. Exports are incredibly important to modern economies because they offer people and firms many more markets for their goods.
One of the core functions of diplomacy and foreign policy between governments is to foster economic trade, encouraging exports and imports for the benefit of all trading parties. In macroeconomics, net exports (exports minus imports) are a component of gross domestic product, along with domestic consumption, physical investment, and government spending. Foreign demand for a country's exports depends positively on income in foreign countries and negatively on the strength of the producing country's currency (i.e., on how expensive it is for foreign customers to buy the producing country's currency in the foreign exchange market).
An export in international trade is a good or service produced in one country that is sold into another country. The seller of such goods and services is an exporter; the foreign buyer is an importer. Exports, along with imports, make up international trade. Exports are incredibly important to modern economies because they offer people and firms many more markets for their goods.
One of the core functions of diplomacy and foreign policy between governments is to foster economic trade, encouraging exports and imports for the benefit of all trading parties. In macroeconomics, net exports (exports minus imports) are a component of gross domestic product, along with domestic consumption, physical investment, and government spending. Foreign demand for a country's exports depends positively on income in foreign countries and negatively on the strength of the producing country's currency (i.e., on how expensive it is for foreign customers to buy the producing country's currency in the foreign exchange market).
SUBJECT Variables
EXPORTS
- The total value of exports (goods and services) dropped to USD 497.2 billion in 2020-21 from USD 526.5 billion a year earlier.
- Total exports in 2020-21 were 5.6% lower than a year ago, marking the second consecutive year of de-growth.
- The total value of all goods (merchandise) exports fell from USD 313.4 billion in 2019-20 to USD 291.2 billion in 2020-21 - a 7.1% decline.
- Services exports recorded a 3.3% decline in 2020-21 given the USD 7.1 billion drop in the value of total services exports
EXPORT COMPOSITION
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