Import
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An importer is the receiving country in an export from the sending country.[3] Importation and exportation are the defining financial transactions of international trade.[4] Import is part of the International Trade which involves buying and receiving of goods or services produced in another country.[5] The seller of such goods and services is called an exporter, while the foreign buyer is known as an importer.[6]
In international trade, the importation and exportation of goods are limited by import quotas and mandates from the customs authority.[7] The importing and exporting jurisdictions may impose a tariff (tax) on the goods.[8] In addition, the importation and exportation of goods are subject to trade agreements between the importing and exporting jurisdictions.