What does the term Imports mean? What is Re Imports?
How to differentiate between re Imports and Imports?
What does Imports mean?
In a simple language, Imports mean movement of goods to a country from another country.
I have written a detailed article and redefined exports and imports in this website. You can go through the same to have a good idea of the meaning of exports and exports in simple and easy to understand. Click here to read How many of you know the meaning of imports and exports?
Here, let us discuss the difference between Re Imports and Imports.
I will explain the difference between re Imports and Imports in a simple language to make you easy to understand.
If we categories imports as import of domestic goods and import of foreign goods, the difference between import and re import makes easier to follow. In simple terms, imports mean movement of goods from a foreign country to the domestic country. Re-imports means import of domestic goods which already exported from the domestic country to a foreign country.
Let me simplify once again about imports and re imports easy to understand below.
If any goods manufactured outside a country which moves in to a country, such movement of goods are called ‘Imports’. However, if any goods already exported in to another country and the same goods are again imported back to home country, such movement of goods is called ‘Re Imports’.
I hope, you have a good idea about the difference between Imports and re Imports in international trade.
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