What is Import and Export?
25 April 2018 Wednesday 17:13

What is Import and Export?

Import and export systems refer to trade between countries in accordance with the law for the products and goods they produce. Export means selling the product and goods that a country needs in exchange for foreign currency in accordance with all procedures, while imports mean that a country receives the product or goods it needs, in the same way in compliance with all laws in the field of customs and trade.

Import and export laws are specially regulated according to each country. It is extremely important for companies in the countries to be imported and exported to comply with customs rules, procedures, laws. Because a single error that may occur can cause the whole process to sag or cause bigger problems.  Import and export can be examined in different groups in terms of transaction types. 

What is Import?

Importation, also known as importation, can be defined as the purchase of products and goods produced in another country by one country.  Importation is one of the important issues that require attention to keep the economic and commercial balance of a country afloat.

Import types may vary according to the payment methods and transaction types to be made. Import types can be examined in different groups as Featureless Import, Permission-Based Import, Free Import and Import by Incentive Types. 

  • Featureless Imports

Featureless imports is the name given to the types of imports that do not have a certain feature. It does not have any extra features, it is the most preferred type of importing. In the featureless import process, the whole process is processed according to normal import procedures and normal rules. 

  • Import Based on Permission

Due to the restrictions on importing products and goods imposed by the Ministry of Commerce, some import operations fall into the group of imports subject to permission. There are two separate groups in the importation of permission-related goods as temporary and pre-authorized. In temporary imports, it is aimed to bring back to the country after importing the parts that cannot be produced or assembled in the country to other countries, while the purchase of goods subject to pre-permission includes the purchase of different types of drugs, firearms, substances belonging to the field of chemistry. 

  • Free Import

Free imports, unlike other types of imports, are a type of non-profit trade and involve the introduction of goods that do not have taxes into the country. For example, the transportation of personal belongings, private vehicles with or without a motor, residence is classified as free import. 

Imports by Incentive Types

It can be defined as the exemption of a new product or good to be produced in the country from all taxes incurred during the export and the incentive of producers to import. For example, if some parts of a machine produced in the country are imported, no tax is levied on this import. This process is included in the import class according to the type of incentive. 

What is Export?

Export means the sale of products and goods produced in one country to other countries in accordance with the laws, that is, export.   Thanks to the methods and rules determined for export, it is easier to transfer the products produced in one country to global markets and to sell them to other countries easily.

The benefits of exporting are known primarily as bringing foreign currency to the country, increasing its income and international trade volume. In addition to these, it is also possible to answer the question of what are the benefits of exports as follows;

  1. It becomes easier to get a share from global trade markets by exporting.
  2. Exports are very important for the country to expand its share in global markets.
  3. It is beneficial to export in terms of closing the gaps in foreign trade.
  4. Thanks to exports, mobility in commercial activities within the country begins. 
  5. It is beneficial for the country to increase its competition in foreign trade market share. 

What is Import and Export Services?

Import and export services can be explained as consultancy services provided to companies by organizations specialized in this field. Import and export processes may seem quite complicated in some cases and prone to problems, but all processes can be facilitated with an experienced import and export consultancy company. Companies that want to ease their burden in international commercial activities can get information by contacting JOORAC Import and Export Consultancy.

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