Question

The united states imports more products and services than any nation in the world.a. Trueb. False

Answer 1

A. True

The US has had a trade deficit for decades. The US imports far more goods and services than it exports.

Import is an activity of transporting goods or commodities from one country to another. The import process is generally an activity of bringing goods or commodities from other countries into the country. Bulk imports of goods generally require intervention from customs in the sending and receiving countries. In a way, import is the opposite of export activity which is the activity of transporting goods or commodities sent abroad.

Import activities have several objectives, the following are the objectives of import activities:

• Reducing the release of foreign exchange abroad.
• Strengthening the balance of payments position.
• Meet domestic needs.

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