Import

To bring goods or services into a country from another for sale or trade. This process involves acquiring goods or services from a foreign source, transporting them across borders, and clearing them through customs for distribution within the importing nation. Imports often serve to supplement domestic production, providing consumers with a wider variety of products and lower prices through competition. They can also facilitate economic growth by providing access to necessary resources or technologies not readily available domestically. Furthermore, importing can strengthen international relationships through economic interdependence and trade agreements. Governments often regulate imports through tariffs, quotas, and other trade policies to protect domestic industries or manage trade balances.

Import meaning with examples

• The country's booming economy was significantly fueled by its substantial import of raw materials from overseas. This allowed manufacturers to produce goods at a lower cost, ultimately leading to increased exports and economic expansion. The constant flow of imports, however, raised concerns about the balance of trade and the potential impact on domestic industries, as local businesses struggled to compete with cheaper foreign alternatives. Policymakers debated the optimal level of import to balance economic growth with national interests.
• As the demand for luxury goods rose, the company decided to import high-end fashion items from Italy and France. This strategy targeted a specific market segment eager for exclusive products, creating new avenues for revenue and branding. Despite the higher prices, the imported items gained popularity, resulting in successful sales. The company had to navigate complex logistical challenges, including customs regulations and international shipping, to ensure the timely and efficient delivery of its imported products.
• The research lab decided to import a state-of-the-art microscope from Japan to advance its scientific research. The advanced technology provided researchers with unparalleled capabilities, allowing for detailed observation and innovative discoveries. The high cost of import and installation was justified by the potential benefits, but the researchers had to overcome a steep learning curve to utilize the new features. The import of specialized equipment significantly enhanced the lab's capacity for groundbreaking work.
• To address a severe drought, the government authorized the import of potable water from neighboring regions. This temporary solution provided essential relief to the affected population, helping to conserve scarce resources and protect public health. Complex arrangements were made to manage the storage and distribution of imported water, especially in remote communities. The import of water, while critical, underscored the need for long-term strategies to manage water resources and mitigate future droughts.
• A local bakery made the decision to import vanilla extract from Madagascar due to its superior flavor and quality compared to local varieties. The subtle taste difference was critical for attracting gourmet customers seeking higher-quality baked goods, boosting their reputation and sales. The bakery absorbed the added costs of import to ensure quality. The selection highlighted the owner's desire to enhance their product offerings and establish a premium brand image, making them a favorite among discerning consumers.