IMPORTATION Meaning and
Definition
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Importation is a noun that refers to the act or process of bringing goods or products into a country from another country for the purpose of trade or commerce. It involves the transportation and acquisition of these goods across national borders. Importation plays a crucial role in international trade, allowing countries to meet the demand for certain goods and services that may not be readily available or produced domestically.
The practice of importation involves various steps and procedures, including documentation, customs clearance, payment of duties and taxes, and compliance with import regulations. It is typically facilitated by importers, who may be individuals, companies, or governmental entities, and often requires the coordination and cooperation of international logistics and transportation firms.
Importation is driven by several factors, such as the availability of resources or products in other countries at lower costs, the desire for certain goods or services not produced domestically, or the need to supplement local production. It contributes to economic growth and development by expanding markets, increasing consumer choices, and fostering international collaboration and competition.
However, importation can also have implications on the domestic economy, including altering trade balances, affecting employment levels, and impacting local industries. Therefore, countries often impose trade policies, regulations, and tariffs to manage and control the flow of imported goods, balancing the benefits and potential risks associated with importation.
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The act or practice of bringing from another state or country; the articles brought from another country.
Etymological and pronouncing dictionary of the English language. By Stormonth, James, Phelp, P. H. Published 1874.
Top Common Misspellings for IMPORTATION *
* The statistics data for these misspellings percentages are collected from over 15,411,110 spell check sessions on www.spellchecker.net from Jan 2010 - Jun 2012.
Other Common Misspellings for IMPORTATION
Etymology of IMPORTATION
The word "importation" comes from the Latin word "importatio", which is derived from the verb "importare". "Importare" is a combination of two Latin words: "im-" meaning "into" or "in" and "portare" meaning "to carry". The literal translation of "importare" is "to carry in". Over time, the term evolved to refer to the act of bringing goods or products into a country from another location. In English, "importation" retains this meaning, referring to the act of bringing goods or services into a country from abroad.
Similar spelling words for IMPORTATION
- imbrication,
- impartation,
- importing,
- imported,
- importer,
- Importune,
- import duty,
- important,
- importunate,
- importee,
- impartial,
- importantly,
- impartiality,
- imipramine,
- importunity,
- importance,
- imprecation,
- importunately.
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