Importation And Exportation; Which is more Profitable?

[Haypril]

Importation and Exportation are terms used in economics to describe the bringing of foreign products in to the country of residence for use or sales to make profit and sending out of both finished goods and raw materials to outside the country for an exchange of others valuable products or for profitability.

Importation has gained popularity among youth and older ones far more than these same set of individuals know exportation. Importation can be of small scale and large scale depending on the investment plan. And same applies to exportation.

In view of the present covid 19 pandemic, which investment plan do you think will be more profitable, importation or exportation?

How much can an average person used in setting up an importation business?

Is there any products or services that could move the market and make more profit from such investment?

 

[Kabak95]

One may be needed than the other in a country economy. There are numerous cases when entrepreneurs find products of good quality which are inexpensive even when the overall import expenses are included. So instead of investing in modern, expensive machinery, entrepreneurs choose to import goods and reduce their costs. In most cases, they end up ordering large quantities in order to get a better price and minimize the costs.

 

[Godslamp]

Import is the process in which goods of the foreign country are brought to the home country, to resell them in the domestic market. Inversely, export implies the process of sending goods from the homeland to a foreign country for selling purpose. The main aim of import is to carry out the demand of goods and services that are lacking or not available in the domestic country

 

[Godslamp]

The main aim of importation is to carry out the demand of goods and services that are lacking or not available in the domestic country while the main aim of exportation is to create more overseas income from the selling of domestic products and to increase the global presence of domestic products and services. Excessive importation can hurt the domestic economy. On the other hand, excessive exportation can benefit the domestic economy since it increases the foreign income to the home country. Therefore exportation is more profitable

 

[Timison]

The principle point of importation is to do the interest of merchandise and ventures that are missing or not accessible in the homegrown country while the primary point of exportation is to make all the more abroad pay from the selling of homegrown items and to expand the worldwide presence of homegrown items and administrations. Unnecessary importation can hurt the homegrown economy. Then again, unnecessary exportation can profit the homegrown economy since it expands the unfamiliar pay to the nation of origin. Consequently exportation is more beneficial

 

[Haypril]

The main aim of importation is to carry out the demand of goods and services that are lacking or not available in the domestic country while the main aim of exportation is to create more overseas income from the selling of domestic products and to increase the global presence of domestic products and services. Excessive importation can hurt the domestic economy. On the other hand, excessive exportation can benefit the domestic economy since it increases the foreign income to the home country. Therefore exportation is more profitable

With such a brilliant explanations and remarkable ideas, anyone would jump into an exporting business without thinking twice. you have made a remarkable comment and have enlightened me more on what importation and exportation are and the positive and negative effects on the economy at large. Thanks for the time taken and expression of your knowledge.

 

[Daykas]

Importation and Exportation are terms used in economics to describe the bringing of foreign products in to the country of residence for use or sales to make profit and sending out of both finished goods and raw materials to outside the country for an exchange of others valuable products or for profitability.

Importation has gained popularity among youth and older ones far more than these same set of individuals know exportation. Importation can be of small scale and large scale depending on the investment plan. And same applies to exportation.

In view of the present covid 19 pandemic, which investment plan do you think will be more profitable, importation or exportation?

How much can an average person used in setting up an importation business?

Is there any products or services that could move the market and make more profit from such investment?

Both of them are both profitable investment.
Depending on the kind of goods you are importing or exporting,your product will determine the profit you will make.
Take for example someone who deals with the exportation of raw material to that of someone who import them.
I know of a guy who made his cloth,shoes and sometimes make designer stuff and export it to the United Arab Emirates and still back to other counties at higher rate

 

[Victor001]

Importation and exportation business is very important but because of the state of things in our nation,less or minimal attention is giving. Though I prefer exportation business because of the currency difference and the availability of those in need the items since it's mostly requested base on demand,goods that are sold here at cheap price will triple once it crosses the border.

 

[Ozigba Richard Lamai]

exporting profit the country more than importing, importing terms to devalue the national currency of a particular country and also cause inflation in a country that is why sometimes government policy does not advice or support importation of goods, that is why sometimes government impose more tax on imported goods but when you export goods the government policy encourage that because it seems to build and help the national currency of that particular country to grow it also improve the stock exchange market and the monetry value of the country.

 

[Maphalle]

It can differ from one country to another. If I manufacture something that my country needs the most I have no reason to export it unless if other countries are in need then I'll put more effort to manufacture more. In exporting also it will depend on our need for a particular product.

 

[Veetos12]

Importation and Exportation are terms used in economics to describe the bringing of foreign products in to the country of residence for use or sales to make profit and sending out of both finished goods and raw materials to outside the country for an exchange of others valuable products or for profitability.

Importation has gained popularity among youth and older ones far more than these same set of individuals know exportation. Importation can be of small scale and large scale depending on the investment plan. And same applies to exportation.

In view of the present covid 19 pandemic, which investment plan do you think will be more profitable, importation or exportation?

How much can an average person used in setting up an importation business?

Is there any products or services that could move the market and make more profit from such investment?

Considering the effect of covid-19 pandemic on the world economy, there has been a lot of restrictions on the movement of goods and people across international borders. As a result of this, importation and exportation business for now may not be the best due to the challenges of transferring goods which can cost someone much.

 

[Henrylaw]

Importation and exportation business is an international business which involves bringing good and services from other countries to one's country and vice viersa. Due to the covid-19 pandemic lockdown, many import and export businesses were badly affected and in turn affected the economy of countries involved. When goods are imported, taxes (import duties) are paid on them this can make the capital investment to be higher than exporting businesses. Hence, exporting businesses are more profitable.

 

[Adeksammy]

Importation is quite profitable.. My company purchase raw materials (chemicals) needed for production from Europe and middle East, the cost of everything including customs, clearance and transportation is quite cheaper compared to locally purchased materials. thus this makes it easier to play with price hence more profit for the company...

 

[Alexandoy]

You may be surprised to know that importation and exportation have no relation to each other. When you import a product then you use it for your own purpose. When you export a product that means you have a buyer abroad. With the profitability of importation and exportation would always depend on the product and also of the supplier for imports and the customer for exports.

 

[Samuel72]

Importation and exportation are very good business but between importation and exportation I see exportation more profitable than importation this is because I have good experience in exportation, over here in Nigeria we have a very big plot of land where we farm and after farming we export our raw material to a foreign country this gives us very large amount of profit.