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) increased to USD 776.4 billion in 2022-23 from USD 676.3 billion a year earlier.
- Total exports in 2022-23 were 14.8% higher than a year ago. In comparison to the pre-covid period of 2019-20, the total exports in 2022-23 were by 47%.
- The total value of all goods (merchandise) exports increased from USD 421.9 billion in 2021-22 to USD 451 billion in 2022-23 - a 6.9% increase.
- Services exports recorded a 27.9% growth in 2022-23 compared to a growth of 23.4% in 2021-22.
EXPORT COMPOSITION
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