Imports and ExportsAn introduction

ExportingAn export is a good

or service made in one country and then sold in another country

Exports are good for an economy as they increase income and wealth

Britain is the 7th largest exporter in the world

We export goods likeMedical drugsChemicalsSteelAerospace ProductsPlastics

Exporting ServicesBritain has 10% of

the world export market in services. We sell

banking servicesInsuranceInvestmentsFinanceEntertainmentthroughout the world.

Simon Cowell selling his shows to America andthe rest of the world is an export for Britain.

BBC’s Top Gear has been sold to 174 countries – another very successful British export.

Importing Goods and ServicesImports are goods and

services made abroad and sold in the UK. Britain’s main imports are

FuelsClothing Foot wareConsumer electricalsMachinery and

vehicles

Imports give people and businesses

More choiceBetter qualityLower pricesNew technology

Importing ServicesAlthough we are

very god at selling services abroad, we do also take a lot of foreign holidays.

These foreign holidays mean we spend money abroad, so they are imports of services.