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Home→The Westburn Dictionary of Marketing→I→imports

imports

Definition:
Goods and services purchased by a country and brought in by commerce. Imports may be 'visible' (goods) or 'invisible' (services). Historically imports have been subject to the imposition of various forms of control, all governments preferring to export and earn foreign exchange rather than spend it. However, the GENERAL AGREEMENT ON TARIFFS AND TRADE (GATT) has done much to reduce import controls and increase international trade. As with exporting, purchases' can include the exchange of goods for goods, i.e. barter, attractive to countries short of foreign exchange.

Cross-References:
[General Agreement on Tariffs and Trade (GATT)] [exports] [balance of payments]

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© Westburn Publishers Ltd 2002, The Westburn Dictionary of Marketing edited by Michael J Baker, ISBN 978-0-946433-01-8. www.themarketingdictionary.com. Entry: [Joanna Kinsey and Michael J. Baker], [1998].