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GCSE Geography · key term
A good or service bought from another country.
Used by OCR and Eduqas
Specification 1.2.1 · Paper 1
A good or service bought by a country's residents or businesses from suppliers overseas.
Revise: UK Global InterconnectionsAn export is sold to a customer overseas; an import is bought from an overseas supplier. These connections link UK producers to overseas markets and UK consumers and businesses to overseas supplies.
Specification 6.2.1 · Component 2
Describe exports and imports from the UK's viewpoint: exports are sold overseas; imports are bought from overseas.
When using a trade figure, give its period and distinguish total trade from exports or imports alone.
A quota restricts quantity; a tariff adds a tax; a subsidy provides financial support. India’s restrictive licensing applied quantitative restrictions, but not every import licence is a quota.
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A product or service bought from another country.
An export is sold abroad; an import is bought from abroad. The same shipment is therefore an export for the selling country and an import for the buying country.
Specification 1.3.2, 1.3.3 · Component 1, Component 2
Revise: Global Connecting ProcessesImports are bought from abroad; exports are sold abroad. Goods are physical products, such as cars or food. Services are activities provided for customers, such as banking or insurance, and can also be traded internationally.
