It is generally recommended to trade in exports rather than imports as it not only generates more revenue when compared but to support the same, below are few pointers:
- Any nation’s foreign financial capacity is determined on the basis of supportive balance of trade. It happens so when the country’s exports are more than its imports. Foreign exchange income will be comparatively more in a supportive balance of trade. So the overall wealth of a country significantly increases whilst securing the foreign exchange.
- A plus point of government support. While backing to boost the foreign exchange inflow to the nation, government and its relevant legislation supports in best possible ways to secure the exporters in almost every issue they face and obstacles in the form of financing as well as aiding services.
- You will pledge to maintain consistent quality according to international standards, whilst meeting the quality preferences of the overseas buyer. This will in return hike your confidence in developing your business, as providing and delivering superior quality pays community always the best.
- Compared to local market, quantity of exports will be more which in turn increases the profit margin big time.
- Globalization leads to liberalization in terms of certain processes, procedures and legal formalities.