International trade is any legal exchange of goods and services between countries. When a business in one country exports goods or services to consumers in another country, it is called international trade. International trade also takes place when consumers in one country import goods and services from a foreign producer.
An import is a product that is purchased from international sources for domestic consumers, and an export is a product that is made by domestic producers and is sold to international buyers. In general, the products a country exports are those it has efficiency in producing. Japan, for example, exports electronics and automobiles because it manufactures those goods more efficiently than many other countries do. A country might also export its natural resources as goods. For example, Saudi Arabia and other Middle Eastern countries with an abundance of domestic oil fields export oil to many countries around the world that do not have rich oil reserves.