As an owner of a successful company, you’re likely interacting with businesses on a global level. Whether you are creating products to be sold or purchasing items to enhance your operations, you often rely on shipments to complete the supply chain.
These shipments are known as exports and imports. But what exactly is the difference between the two, and how can they impact your business?
We dive into the logistics surrounding exports and imports.
Understanding Exports & Imports
Exports & Imports
Exports are goods and services that are produced domestically, but then sold to international customers.
Conversely, imports are goods and services produced internationally and then brought into the buyer’s country.
Trying to maintain a balance between the two is important. When you purchase international goods, you are permitting funds to flow out of your country and into another one. This is fine, provided you are selling an equal amount (or more) of goods, thus maintaining or increasing your capital.
If you rely too heavily on exports, you risk sending too much money out of your country and neglecting domestic companies. However, a nice balance between imports and exports allows for access to products you may be unable to obtain domestically, and vice versa.
Working With Exports & Imports
Since the products you are either selling or buying are crossing international borders, you’ll find there are additional obstacles to pass through for your shipment to reach its final destination successfully.
Some aspects to take into consideration when dealing with exports and imports are:
- Complete documentation
- Timelines
- Insurance
- Proper packaging
- Delivery
If your business deals with exports and imports, it’s never a bad idea to consult with a logistics company for additional information and assistance.
Ocean-Air Freight Ltd is your premier logistics and freight forwarder in Calgary. Since 1990, we have been providing individuals and companies with top-quality shipping and freight forwarding needs. We pride ourselves on our professionalism, experience, and adaptability. We offer a range of services including air, ocean and surface freight for international, cross-border and domestic needs, cargo insurance, import and export needs, documentation, etc. From Europe to North America, we can handle all your deliveries and freight requirements. For the best freight forwarder in Edmonton, Calgary and Saskatoon, contact our logistics company in Calgary today.