Importation

Importation refers to the act or process of bringing goods, services, or resources from one country into another for trade, sale, or use. This practice is typically regulated by law, and importation plays a crucial role in international trade by allowing nations to obtain products that are not available or are less available domestically.

Importation meaning with examples

• The importation of electronic devices has surged in the last year, reflecting an increasing consumer demand for the latest technology. Local retailers have expanded their stock to include internationally acclaimed brands, which has enhanced competition and provided consumers with a wider array of choices.
• During the economic summit, officials discussed the challenges related to the importation of agricultural products. They highlighted issues such as tariffs and quotas that can hinder the free flow of food items, impacting both farmers and consumers in the domestic market.
• The company specializes in the importation of luxury automobiles, bringing high-end vehicles from Europe to local dealerships. This business model not only boosts sales but also attracts affluent customers who seek exclusivity and prestige in their vehicle choices.
• With climate change effects being felt globally, the importation of sustainable goods has gained traction. Many businesses are now focused on obtaining eco-friendly products from abroad, aligning with environmentally conscious consumer demands while contributing to a greener economy.