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Export

A good produced in one country and sold to a customer in another country. Exports bring money into the producing country; for that reason, many economists believe that a nation's proper balance of trade means more exports are sold than imports bought. Exports may be difficult to sell in some countries, as the importers may put up various protectionist measures such as import quotas and tariffs. Most governments seek to promote exports, while they have differing positions on imports. See also: Free trade, NAFTA.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

export

A good or service that is produced in one country and then sold to and consumed in another country. Because many companies are heavily dependent on exports for sales, any factors such as government policies or exchange rates that affect exports can have significant impact on corporate profits. Compare import. See also balance of trade.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

export

  1. a good which is produced in the home country and which is then physically transported to, and sold in, an overseas market earning foreign exchange for the home country (visible export).
  2. a service which is provided for foreigners either in the home country (for example visits by tourists) or overseas (for example banking, insurance) which likewise generates foreign exchange for the home country (invisible export).
  3. capital which is placed abroad in the form of portfolio investment, foreign direct investment in physical assets, and banking deposits (capital export). See FOREIGN INVESTMENT.

    Together these items comprise, along with IMPORTS, a country's BALANCE OF PAYMENTS. See INTERNATIONAL TRADE, EXPORTING, EXPORT CREDIT GUARANTEE DEPARTMENT, EXPORT RESTRAINT AGREEMENT, EXPORT SUBSIDY.

Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson
Exportclick for a larger image
Fig. 68 Export. (a) UK goods and services exports, 2003.

(b) Geographical distribution of UK goods/services exports, 2003. Source: UK Balance of Payments, ONS, 2004.

export

a good, service or capital asset that is sold to foreign countries. (i) A good that is produced in the home country and is then physically transported to, and sold in, an overseas market, earning foreign exchange for the home country, is called a visible export. (ii) A service that is provided for foreigners either in the home country (for example, visits by tourists) or overseas (for example, banking, insurance) which likewise generates foreign exchange for the home country is called an invisible export. (iii) Capital that is placed abroad in the form of portfolio investment, foreign direct investment in physical assets and banking deposits is called a capital export. Exports are important in two main respects:
  1. together with IMPORTS they make up a country's BALANCE OF PAYMENTS - a country must export in order to finance (‘pay for’ in foreign currency terms) its imports. The combined net payment figures (exports minus imports) for (i), (ii) and (iii) are shown in Fig. 13 (a), BALANCE OF PAYMENTS entry.
  2. they represent an ‘injection’ into the CIRCULAR FLOW OF NATIONAL INCOME, serving to raise real income and output. In 2003, exports accounted for 20% of gross final expenditure (GFE) on domestically produced output (GFE minus imports = GROSS NATIONAL PRODUCT). See Fig. 133 (b) , NATIONAL INCOME ACCOUNTS entry Fig. 68 gives details of the product composition and geographical distribution of UK (merchandise) goods exports in 2003. See Fig. 84 , for comparable import data (IMPORT entry). See INTERNATIONAL TRADE, EXPORT MULTIPLIER, C.I.F. ( COST- INSURANCE-FREIGHT), F.O.B. ( FREE-ONBOARD), CERTIFICATE OF ORIGIN, INSURANCE, FACTORING, FORFAITING, EXPORT SUBSIDY, EXPORT RESTRAINT AGREEMENT, FOREIGN INVESTMENT, EXCHANGE RATE, EXCHANGE RATE EXPOSURE, TERMS OF TRADE.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
The second term on the RHS denotes the indirect effect on welfare due to difference in cash requirements between exportable and importable goods.
Sufficient conditions for an increase in welfare are (i) that the cash requirement ratio in the exportable sector is lower than that in the importable and (ii) all exported goods are burdened with a net consumption subsidy.
For the sake of brevity, we analyze only the case of a reduction in the tariff when there are only two tradeable goods, an exportable, which is indexed with "0" and is used as the numeraire good, and an importable, which is indexed with "1."
Also, if the exportable goods are more liquidity constrained, then, contrary to previous results, tariff-tax reforms that leave consumer prices unchanged may increase welfare and market access by more than the reforms of only tariffs.
(1) The greater the cross price elasticity of demand between importables and nontradeables relative to that between exportables and nontradeables.
In previous studies of the effects of trade liberalization on the labor market, where the export good is the numeraire, the short-run effects of trade liberalization are such that wages fall in terms of the price of exportables in two sector models, and in terms of prices of exportables and nontraded goods in three sector models [Edwards, 1988].
Given the initial equilibrium level of employment in the three sectors, Equation (8) indicates that a fall in true protection of importables raises (decreases) wages if at the initial equilibrium point, (1) the slope of the labor demand curve is higher (lower) in the importable sector relative to that in the exportable sector, and (2) the cross price elasticity of demand between importables and nontradeables are high (low) relative to that between exportables and nontradeables.
The [L.sub.n] curve is the labor demand curve in the nontradable sector, the [L.sub.T] curve indicates the total demand for labor in the importable and nontraded sectors taken together, and the [L.sub.x] curve depicts labor demand in the sector producing exportables. (9)
This diagram indicates that given a certain level of reduction in the relative price of importables (depicted by the shift from [L.sub.T] to [L'.sub.T]), wages increase as long as the rise is relative price of exportables is sufficient to shift the [L.sub.x] curve such that the [L'.sub.x] curve is beyond point D.
This implies that if the cross price elasticity of demand between importables and nontradeables is greater than or equal to that between nontradeables and exportables, wages relative to price of nontradeables definitely increase.
As explained earlier, the fall in the rate of true protection to importables puts a downward pressure on wages, while a rise in the rate of true protection of exportables puts an upward pressure on wages.
Comparing the results in Figure 1 to that in Equation (7), which indicates the change in true protection of exportables, and tying this to the effect on wages described above we see the following: