Why does the United States import automobiles, steel, digital phones, and apparel from other countries? Why don’t we just make them ourselves? Why do other countries buy wheat, chemicals, machinery, and consulting services from us? Because no national economy produces all the goods and services that its people need. Countries are importers when they buy goods and services from other countries; when they sell products to other nations, they’re exporters.
Source:
“Business in a Global Environment”, chapter 3 from the book An Introduction to Business (v. 1.0), curated by Andy Schmitz on http://2012books.lardbucket.org/books/an-introduction-to-business-v1.0/s07-business-in-a-global-environme.html