When a country receives some goods from another country is known as import. These goods are Export of the sending country. Importation and exportation are basic definitions of financial transactions of international trades. Products which are imported often depends on the quality that what the product is and what kind of services it contains. The party bringing in the good is known as importers.
However, depending on the quality and nature of goods importers may need to take permission or license from other countries.
An international trade of a country contains both importing and exporting both goods and services.Balance of trade is equals to the difference between the amounts exported and the amounts imported. A company import a product with cheap rates and better quality which are not available in local market
Direct Importation involvinf a major retailer for business (e.g. Wal-Mart). A retailer puchases the goods from local companies that can be manufactured overseas.
Indirect import refers a type of business in which retailer bypasses the local supplier and buys the final product directly from the manufacturer.