Import good


An imported good is that type of good that can be imported by a national economy in a foreign market due to reasons such as the non-production of the same in the interior or the existence of better economic conditions by importing it.

Following the scheme of international trade, an imported good is anything that is accessed beyond a national, economic and governmental border. Countries want to consume different goods to which, either they do not have access in their national markets, or their national production is more expensive than their foreign purchase.

In this sense, it is observed that there are different reasons why a territory may decide to purchase an imported good. Among them the main ones are the lower costs of acquisition or production of said good abroad compared to the cost in the interior.

For this previous point, the so-called competitive advantages of the territories acquire great importance, which largely define those products in which they specialize and which form the basis of trade in the economic study.

Another explanation for the fact that goods are imported into an economy responds to the possible exclusivity of these in markets outside that of a particular country.

Tax effects of an imported good

Access to this type of goods is usually linked to the taxation of a customs or an import tariff such as tariffs. This produces an increase in the price of the good. Often it tends to be related to the defense by the governments to the producers of the own country.

This happens since it is about discouraging the purchase of these goods abroad to favor the national economy. Although everything will depend on the degree of protectionism of the economy. See free trade and protectionism

On the contrary, there is also the possibility that foreign trade operations for which imported goods are acquired may have tax incentives to stimulate said market. This often happens in situations of agreements between different countries or economic zones that sign a trade agreement.

Having said all this, it should be noted that almost every import of a good is usually related to a commercial or economic reason. There are other transactions of goods and services at the supranational level that, on the contrary, respond to other causes, such as humanitarian aid or the transfer between countries of medicines and other non-profit economic resources.

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