ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Exports are goods and services that are produced in one country and sold to buyers in another. Exports, along with imports, make up international trade.

Detailed explanation-2: -Export Definition. Goods and services produced in one country but supplied to buyers in another are known as exports. International trade is made up of exports and imports.

Detailed explanation-3: -Petroleum products or refined petroleum is the most exporting product of India after jewellery products. It includes medium oils & preparations and light oils and preparations, of petroleum or bituminous minerals.

Detailed explanation-4: -Exports of goods and services consist of transactions in goods and services (sales, barter, and gifts) from residents to non-residents. Exports of goods occur when economic ownership of goods changes between residents and non-residents.

Detailed explanation-5: -CHINA. With the second-largest economy in the World, China is the leader in exports.