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Export: Exporting refers to the process of selling goods and services produced in one country to customers located in another country. It is a crucial component of international trade, contributing to the economic growth of nations. Companies engage in exporting to reach new markets, increase sales, and diversify their customer base. Import: Importing is the opposite of exporting. It involves bringing goods and services into one country from another. Nations often import products that are not readily available or are more cost-effective to produce in other countries. Imports contribute to meeting domestic demand and supplementing locally produced goods.