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If you are exporting and your local currency becomes strong then your products become more expensive for your buyers. If you are importing and your local currency becomes weak then the products you are importing become more expensive.
Lorenza Kassulke
Paige Grant
Advantages and Disadvantages of International Trade
Advantages to consider:- Enhance your domestic competitiveness
- Increase sales and profits
- Gain your global market share
- Reduce dependence on existing markets
- Exploit international trade technology
- Reduce dependence on existing markets
- Exploit international trade technology
- Extend sales potential of existing products
- Stabilize seasonal market fluctuations
- Enhance potential for expansion of your business
- Sell excess production capacity
- Maintain cost competitiveness in your domestic market
- You may need to wait for long-term gains
- Hire staff to launch international trading
- Modify your product or packaging
- Develop new promotional material
- Incur added administrative costs
- Dedicate personnel for traveling
- Wait long for payments
- Apply for additional financing
- Deal with special licenses and regulations
Wiki User
∙ 13y agoAdvantages and Disadvantages of International Trade
Advantages to consider:- Enhance your domestic competitiveness
- Increase sales and profits
- Gain your global market share
- Reduce dependence on existing markets
- Exploit international trade technology
- Reduce dependence on existing markets
- Exploit international trade technology
- Extend sales potential of existing products
- Stabilize seasonal market fluctuations
- Enhance potential for expansion of your business
- Sell excess production capacity
- Maintain cost competitiveness in your domestic market
- You may need to wait for long-term gains
- Hire staff to launch international trading
- Modify your product or packaging
- Develop new promotional material
- Incur added administrative costs
- Dedicate personnel for traveling
- Wait long for payments
- Apply for additional financing
- Deal with special licenses and regulations
Wiki User
∙ 10y agoImports and exports affect economic growth and currency stability by proving the country or city with their own form of income. If a country only imported things for their country all their currency would be going to the place that is exporting the goods to them therefore unbalancing their currency stability. Likewise, if a country only exports things they are promoting their economic growth and currency stability but they will still need some things to be imported or their country will fail.
Wiki User
∙ 14y agoguys, you just have to know that exports helps increase the income of the country and imports lets the country get what it wants.=)
Wiki User
∙ 12y agoMore people get layed off, which increases unemployment. Then demand goes down because people have less my to buy goods and services or imports and exports.
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What is good for a country Export or Import?
Both importing and exporting are good for a country and the economy. Importing bring (goods or services) into a country from abroad for sale. Exporting refers to selling goods and services produced in the home country to other markets. Both bring income to the country.
When does the economy get bad?
The economy only gets bad when a country's population shrinks, and elderly people stop working. If elderly people still work in a country with a declining population, it doesn't affects the economy.
What is the difference between exporting and importing?
Exporting means sending goods out of the country to sell. Importing means bringing goods into the country to sell.
What is the difference between importing and exporting?
Exporting means sending goods out of the country to sell. Importing means bringing goods into the country to sell.
What causes a command economy to stagnate or decline?
the leader making a mistake which then affects the whole country in a negative way.
How could importing be considered a good way to establish relationships with other countries?
If you are importing goods from Another Country, you are helping to support their economy and helping to keep their workers employed.
What is good for a country Export or Import?
Both importing and exporting are good for a country and the economy. Importing bring (goods or services) into a country from abroad for sale. Exporting refers to selling goods and services produced in the home country to other markets. Both bring income to the country.
What resulted from Lenins new economic policy?
Russia's devastated economy began to recover.Russia was forced to begin importing food products.Russia was forced to begin importing food products.
How sensex affects the Indian economy?
sensex doesnt affects economy but economy affects sensex
What affects cash?
The Economy effect cash flow the most. Also inflation, and country to country relations.
When does the economy get bad?
The economy only gets bad when a country's population shrinks, and elderly people stop working. If elderly people still work in a country with a declining population, it doesn't affects the economy.
What is the difference between exporting and importing?
Exporting means sending goods out of the country to sell. Importing means bringing goods into the country to sell.
What is the difference between importing and exporting?
Exporting means sending goods out of the country to sell. Importing means bringing goods into the country to sell.
What causes a command economy to stagnate or decline?
the leader making a mistake which then affects the whole country in a negative way.
How does the economy affect business?
how does economy affects business
How the business affect the economy?
how does economy affects business
When a country brings in goods that were made in another country what is it doing?
importing
