Export - GCSE Business Definition

Export refers to the sale and shipment of goods or services produced in one country to buyers in another country. It is a key component of international trade and allows businesses to access wider markets beyond their domestic customers. Exports can contribute to a nation's economic growth by increasing sales, providing employment opportunities, and generating foreign exchange. For GCSE Business students, understanding exports involves recognising the benefits of diversifying revenue sources and mitigating risks associated with relying solely on the domestic market. Additionally, exports can influence a country's balance of trade and relationships with other nations.