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Imports and Exports

Imports and Exports. An introduction. Exporting. An 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 7 th largest exporter in the world We export goods like: Medical drugs

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Imports and Exports

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  1. Imports and Exports An introduction

  2. Exporting • An 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 like: • Medical drugs • Chemicals • Steel • Aerospace Products • Plastics

  3. Exporting Services • Britain has 10% of the world export market in services. We sell • banking services • insurance • investments • finance • entertainment throughout the world. Simon Cowell selling his shows to America and the rest of the world is an export for Britain. BBC’s Top Gear has been sold to 174 countries – another very successful British export.

  4. Importing Goods and Services • Imports are goods and services made abroad and sold in the UK. • Britain’s main imports are: • Fuels • Clothing • Foot ware • Consumer electricals • Machinery and vehicles Imports give people and businesses • More choice • Better quality • Lower prices • New technology

  5. Importing Services • Although we are very good 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.

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