Imports – competition from overseas and buying from overseas
Importing refers to the process of purchasing goods or services from overseas and bringing them into another country. For example, goods are brought into the UK in exchange for money leaving the UK economy. In the UK, most companies import products and services.
Sometimes products are imported because they cannot easily be manufactured in the importing country due to the climate, the capacity of businesses or the availability of raw materials, eg fruit and vegetables. For example, coffee beans are produced in countries such as Colombia and need to be imported into the UK.
For other items, it is cheaper to purchase products from other countries than to make them in the importing country. For example, the UK commonly imports electrical products from China and India. A similar principle applies to the A job which involves payment for a service, eg a hotel receptionist is paid to check-in/check-out people from the hotel.. For example, the call centres of many UK companies are located in India due to the cheaper labour costs in that country.
