Export

4 Key excerpts on "Export"

• 

  eBook - PDF

  Australian Export

  A Guide to Law and Practice

  • Justin Malbon, Bernard Bishop(Authors)
  • 2014(Publication Date)
  • Cambridge University Press

    (Publisher)

  1 AN INTRODUCTION TO THE Export AND IMPORT OF GOODS AND SERVICES 1 1.1 Key Concepts  Exporters selling goods and services will usually agree with the buyer on terms and conditions for the sale. Some of the terms may be in writing. Often, the written terms are little more than a sales order and email correspondences. If there is a dispute between the parties, a court or tribunal will usually be required to work out what the parties intended, using both written terms and ‘implied’ terms. These may be divined from communications and past conduct between the parties, and usual business practices in the relevant industry. There may also be terms that are implied by law in the absence of contrary express and implied agreements between the parties.  Parties to international contracts for sale of goods may incorporate standard terms into their sales contracts, known as ‘incoterms’.  Export documents refer to the range of documents that an Exporter must prepare to enable goods to leave the country, be accepted into the country of the importer and, frequently, to enable payment to be made through the international banking system.  The procedure for international sales of goods transactions refers to the steps that need to be taken predominantly by the Exporter so that the goods arrive in the importer’s country at the time and by the method of transport agreed between the parties.  Exports of services differ from sales of goods in that the terms of agreements and the procedure adopted by Exporters and importers tend to be less standardised and depend upon negotiation between the parties.  Exports of services can occur by one of the following four means –  By delivery of the service in the home country of the Exporter  By direct delivery of the service to the overseas consumer  By delivery of the service through the movement of personnel  By delivery of the service through establishment of a presence in the overseas country.

  Sign up to read

  Learn more about book
• 

  eBook - PDF

  Essentials of Economics

  • James D Gwartney, Richard Stroup, J. R. Clark(Authors)
  • 2014(Publication Date)
  • Academic Press

    (Publisher)

  They trade goods for dollars so they can use the dollars to import goods and purchase ownership rights to U.S. assets. Exports provide the buying power that makes it possible for a nation to import other goods. Nations Export goods so that they will be able to import foreign products. If a nation does not import goods from foreigners, foreigners 4 6 4 PART FIVE INTERNATIONAL ECONOMICS will not have the purchasing power to buy that nation's Export products. Thus, the Exports and imports of a nation are closely linked. Supply, Demand, and International Trade How does international trade affect prices and output levels in domestic markets? Supply and demand analysis will help us answer this question. High transpor-tation costs and the availability of cheaper alternatives elsewhere diminish the attractiveness of some U.S. products to foreigners. These factors may completely eliminate foreign purchases of some commodities. However, foreign consumers will find that many U.S. products are cheaper even when transportation costs are considered. When this is the case, the demand of foreigners will supplement that of domestic consumers. In an open economy, the market demand curve for domestic products is the horizontal sum of the domestic and foreign demand. Exhibit 6 illustrates the impact of foreign demand on the domestic wheat market. When the demand of foreigners is added to the domestic demand, it yields the market demand curve A+d (where the subscripts f and d refer to foreign and domestic, respectively). Price P brings supply and demand into equilibrium. At the equilibrium market price, foreigners purchase OF units of wheat, and domestic consumers purchase FQ_. The competition from foreign consumers results in both higher wheat prices and a higher output level. At first glance, it appears that the entry of foreign consumers into the U.S.

  Sign up to read

  Learn more about book
• 

  eBook - PDF

  Exports, Foreign Direct Investment and Economic Development in China

  • X. Fu(Author)
  • 2004(Publication Date)
  • Palgrave Macmillan

    (Publisher)

  Exports and finance of imports A foreign exchange gap often exists in developing countries. Shortages of foreign exchange earnings may render the development process discon- tinuous and hinder steady investment and employment growth. For most developing countries, Exports are a vital and often the sole source of foreign exchange. Exports provide a source of finance for imports and enable the country to import advanced production equipment and scarce resources. Fluctuations in Export earnings may destabilize the growth process. Empirical evidence from time series and country mod- elling clearly suggests that fluctuations in commodity Export prices or earnings would have important effects on both the Export and non- Export sectors of the economy. Cross-country analyses also suggest some support for the view that Export instability is an obstacle to growth, though the results are sensitive to the sample of countries, the periods under investigation and the measurement of instabilities (MacBean and Nguyen, 1988). A steady supply of foreign exchange would facilitate the growth process, solve the ‘stop–go’ problem in the development process and save developing countries the resources required to insulate the economy from the effects of instability in exchange earnings. Relaxation of foreign exchange constraints can also reduce black market activities, Exports and Economic Development 11 smuggling and corruption caused by foreign exchange shortages and controls (Chenery and Strout, 1966; Krueger, 1998). Export growth may also attract efficiency-seeking FDI in sectors where developing countries possess a comparative advantage. Rapid expansion of labour-intensive Export products, particularly in Export-processing zones (EPZs), may attract foreign capital. Such inflows of FDI may con- tribute to the growth of the host economy through technology transfer, knowledge spillovers, job creation and capital accumulation.

  Sign up to read

  Learn more about book
• 

  eBook - PDF

  Introduction to International Economics

  • Dominick Salvatore(Author)
  • 2014(Publication Date)
  • Wiley

    (Publisher)

  That is, through trade, a developing nation can move from an inefficient production point inside its production frontier, with unutilized resources because of insufficient internal demand, to a point on its production frontier with trade. For such a nation, trade would represent a vent for surplus, or an outlet for its potential surplus of agricultural commodities and raw materials. This has indeed occurred in many developing nations, particularly those in Southeast Asia and West Africa, during the past decades. Vent for surplus The view that Exports could be an outlet for the potential surplus of agricultural commodities and raw materials in some developing countries. 2. By expanding the size of the market, trade makes possible division of labor and economies of scale. This is especially important and has actually taken place in the production of light manufactures in small economies such as Taiwan, Hong Kong, and Singapore. 3. International trade is the vehicle for the transmission of new ideas, new technology, and new managerial and other skills. 4. Trade also stimulates and facilitates the international flow of capital from developed to developing nations. In the case of foreign direct investments, where the foreign firm retains managerial control over its investment, the foreign capital is likely to be accompanied by foreign skilled personnel to operate it (foreign direct investments are examined in Chapter 9). 5. In several large developing nations, such as Brazil and India, the importation of new manufactured products has stimulated domestic demand until efficient domestic production of these goods became feasible. 6. International trade is an excellent antimonopoly weapon because it stimulates greater efficiency by domestic producers in order for them to meet foreign competition. This is particularly important to keep low the cost and price of intermediate or semifinished products that are used as inputs in the domestic production of other commodities.

  Sign up to read

  Learn more about book