An export takes place when one country sells products or services to another.
Exporting is the action and effect of exporting (when one country sells goods to another). The term, which has its origin in the Latin word exportatio , also refers to the set of merchandise or goods that are exported .
For example: “Chinese exports have increased by 152% in the last decade” , “The small Caribbean country needs to increase its exports to balance the trade balance” , “My uncle works in a company dedicated to exporting food to the European market”. ” .
Characteristics of an export
It can be said, therefore, that an export is a good or service that is sent to another part of the world for commercial purposes. The shipment can be carried out by different means of transportation, whether land, sea or air. It can even be an export of services that does not involve the shipment of something physical. This is the case of those who offer their work over the Internet and send it in digital format (text documents, images, etc.).
Exports always refer to the legitimate traffic of goods and services . Therefore, the conditions are governed by the laws of the sending country (the exporter ) and the receiving country (the importer ). It is common for nations to impose certain import barriers so that local producers are not harmed. These measures, of course, affect exporting countries.
In the case of illegal trade (such as drug trafficking or arms trafficking ), it cannot be considered within the export as a whole, since it takes place outside any legislative framework and is not subject to rules.
Exports only cover legitimate traffic of goods.
Possible negative effects
Although a large volume of exports is usually positive for a country, since it tilts the trade balance in its favor, the excess can generate negative repercussions.
It is possible, in this framework, that you could raise your expenses to excessive limits, exhaust your resources and cause logistical and legal problems. It is also likely to drive price increases at the local level if the export reduces the supply of the good in the producing country.
Countries with the highest export volume worldwide
- China: Among the main products it exports are clothing and textile supplies , medical equipment, toys, steel, iron, electrical machinery and weapons. Some of the countries to which it exports are, in order of importance, the United States, Japan, South Korea and Germany.
- United States: Generates exports for an amount close to 2 billion dollars, with products such as transistors, automobile parts, airplanes, computers , telecommunications equipment, cars, medicines, fruits, corn and soybeans. Its most important destinations are Canada, Mexico, China and Japan.
- Germany: Specializes in the export of vehicles, machinery, metals, chemicals, textiles and food. At a monetary level, its activity as an exporter is equivalent to that of North America and its main buyers are France, the United States, Holland, the United Kingdom and Italy.
- Japan: Its annual export volume represents approximately 2/3 of that achieved by the United States. Among the products it exports we can mention chemicals, textiles, machinery, auto parts, plastics, cars, steel and iron products and semiconductors. Its most relevant destinations are China, the United States and South Korea.
- France: Annually, countries such as Germany, Italy, Spain, Belgium and the United States benefit from their export of aircraft, plastics, machinery, pharmaceutical and chemical products, steel and iron, electronics and beverages.
- Netherlands: With just over 1/3 of the export volume of the United States or China, they are mainly dedicated to the production of food, chemicals, fuel, machinery and equipment. Its most notable destinations are Germany, Belgium, France, the United Kingdom and Italy.
- South Korea: Mainly exports telecommunications equipment, cars, computers, semiconductors, steel, chemicals and ships. The countries that benefit the most from its activity are China, the United States and Japan.
- Italy: It is one of the many European countries that dominate this statistic, and exports a volume of about 460,000 million dollars a year, mainly in engineering products, vehicles, textiles and clothing, chemicals, foods, metals and non-ferrous minerals. , tobacco and beverages. Its best buyers are Germany, France, the United States and Spain.