Definition of Net importer:
When a location, typically a country or territory, has a higher value of imported goods than it has for the goods that it exports over a certain period of time, it is said to be a net importer. This is the opposite of a net exporter.
A country that imports more than it exports.
A net importer is a country or territory whose value of imported goods and services is higher than its exported goods and services over a given period of time. A net importer, by definition, runs a current account deficit in the aggregate; however, it may run deficits or surpluses with individual countries or territories depending on the types of goods and services traded, competitiveness of these goods and services, exchange rates, levels of government spending, trade barriers, etc.
As categorized by the U.S. Commerce Department, traded goods include food and beverage, industrial supplies (inclusive of commodities), capital goods, automobiles and consumer goods, while main services comprise travel (goods and services acquired abroad), transportation, information technology and telecommunication, financial and insurance services, and general business services. The Commerce Department keeps monthly tallies on exports and imports in numerous table displays.
How to use Net importer in a sentence?
- The US is projected to be a net importer of agricultural products for the first time since 1959.
Meaning of Net importer & Net importer Definition