Imports as They Relate to Economy
Imports are the purchase of foreign goods. The person who imports goods is called an “importer.” As a component of the GDP, they represent the demand for foreign goods in a certain country. Also, they have a negative effect on the size of a country’s GDP and on the trade balance.
The size of a country’s imports is dependent on many factors: the size of the country’s GDP, the exchange rate of the currencies in question and possible trade barriers to mention just a few.