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EXPORT MANAGEMENTMODULE 1
Export refers to the sale of goods or services produced in one country to buyers
located in another country. It is an essential component of international trade
and plays a significant role in the global economy. Exporting allows businesses
to expand their customer base beyond domestic borders, tapping into new
markets and opportunities for growth. Exports are the goods and services one
country sells to other countries. A country's flow of exports can impact its
economy and the entire global economy. If ONE IS interested in international
trade, foreign relations or how you can expand your business, consider learning
about exports.
What are exports?
Exports are the goods and services that a country produces domestically, or
within the borders of its own country, and sells to buyers in a foreign country.
The opposite of exports are imports, which are goods and services that buyers in
a country purchase from sellers in a foreign country. Exports and imports are
components of international trade, which is the exchange of goods and services
between countries. Trade barriers such as tariffs, taxes on imports, and
subsidies, funding given to domestic businesses, can affect a country's flow of
exports.
A country's trade balance is the difference between the values of its exports and
imports. In macroeconomics, which is the study of global economies, the value
of a country's exports minus its imports is its gross domestic product (GDP). If a
country's exports outweigh its imports, it has a trade surplus. If its imports
outweigh its exports, it has a trade deficit. A country's GDP or trade balance can
measure the fiscal health of a country because it represents the value of a
country's goods and services produced in a certain time period.
Typically, a country has a competitive advantage on its exports. This means that
it has the natural ability to produce certain goods and services in a high quality
and quantity, often based on its climate and geographic region. For example,
because of the tropical climate of Brazil, its largest export is sugarcane.
,As components of both domestic and global economies, a country's exports can
have far-reaching effects on businesses and consumers all around the world.
Here are some reasons why exports are important
Benefits arising from export include:
Benefits for domestic businesses
By selling their goods or services to different countries, domestic businesses
can acquire new markets and increase their profits. Selling to various markets
can also diversify their business's investments and spread-out economic risk.
This means that they aren't overly dependent on one sector, and if one of their
investments loses value, their other investments can make up for it.
• . Revenue Generation: Exporting enables businesses to increase sales and
revenue by reaching customers in foreign markets who have demand for
their products or services.
• Market Diversification**: Exporting reduces dependence on domestic
markets, allowing businesses to diversify their customer base and
mitigate risks associated with fluctuations in the domestic economy.
• Economies of Scale**: Selling to larger markets through export can lead
to economies of scale, allowing businesses to produce goods or services
more efficiently and at lower costs.
• Competitive Advantage**: Access to international markets can provide
businesses with a competitive advantage by offering unique products,
technologies, or services that may not be available in foreign markets.
• Enhanced Profit Margins**: Exporting can lead to higher profit margins,
particularly if businesses can sell their products or services at premium
prices in foreign markets or benefit from lower production costs abroad.
• 6. **Utilization of Excess Capacity**: Exporting allows businesses to
utilize excess production capacity, maximizing efficiency and reducing
idle resources.
, • 7. **Job Creation and Economic Growth**: Export-oriented businesses
often create jobs in manufacturing, distribution, and related industries,
contributing to economic growth and development both domestically
and internationally.
• 8. **Enhanced Brand Image**: Successful exporting can enhance a
business's brand image and reputation globally, leading to increased
customer trust and loyalty.
• 9. **Access to Resources and Talent**: Exporting may provide access to
resources, technologies, and talent available in foreign markets, fostering
innovation and growth opportunities for businesses.
• 10. **Foreign Exchange Earnings**: Exporting generates foreign
exchange earnings for the exporting country, which can strengthen its
currency and contribute to overall economic stability.
Overall, exporting offers numerous benefits for businesses, economies, and
societies by promoting trade, fostering economic development, and facilitating
global cooperation and exchange.
Export Management
Concept of export management
Export business is prevalent around the globe and in recent times it has grown
at much faster rate due to globalisation process. Export means transaction of
products and services from one nation to other following legal rules for trade
purposes. Export goods are given to international end users by domestic
producers. Export management is the use of managerial process to the
, serviceable area of exports. It is basically associated with export activities and
type of management that brings harmonization and incorporation of an export
business. Export management is concerned with export orders and accomplish
objectives to successfully complete in time as per the requirements given by the
overseas buyers. The main purpose of export management is to secure export
orders and to make certain for timely delivery of goods as per agreed norms of
quality and other specifications including terms and conditions agreed to
between the exporter and the importer.
Categorization of Export
The export can be grouped into many sections such as Merchandise Exports,
Services Exports, Project Exports, and Deemed Exports.
A merchandise export is related with the export of physical goods, for example,
readymade garments, engineering goods, furniture, and works of art. Service
Exports denotes to the export of goods that don't exist in physical form, that is,
professional, technical or general services. Examples of the exports would
include export of computer software, architectural, entertainment or technical
consultancy services. Project export means to develop a project by a business
firm in a different nation. It is viewed as systematically evolved work plan
devised to achieve a specific objective within a specific period of time. Deemed
Exports refer to those transactions by the recipient of the goods in which the
goods are made in India. The necessary condition is that such goods are
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