Accords reached by governments in which countries voluntarily limit the volume or value of goods they export to or import from one another are known as export restraint agreements.
What is export and import ?
Since payments to sellers who are located outside are a part of import transactions, there is a corresponding outflow of funds from the nation. Exports are products and services that are made domestically and then offered to clients in other nations.
The export of rice from China for sale in several nations is an illustration of export. to transfer (data) between programs.
From an American point of view, chocolate produced by a Belgian company and sold there would be considered an import.
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