DEFINITION OF 'EXPORT'

A function of international trade whereby goods produced in one country are shipped
to another country for future sale or trade. The sale of such goods adds to the producing
nation's gross output. If used for trade, exports are exchanged for other products or services.
Exports are one of the oldest forms of economic transfer, and occur on a large scale between
nations that have fewer restrictions on trade, such as tariffs or subsidies.
INVESTOPEDIA EXPLAINS 'EXPORT'
Most of the largest companies operating in advanced economies will derive a
substantial portion of their annual revenues from exports to other countries. The ability to
export goods helps an economy to grow by selling more overall goods and services. One of
the core functions of diplomacy and foreign policy within governments is to foster economic
trade in ways that benefit both parties involved.
The term export means shipping the goods and services out of the port of a country.
The seller of such goods and services is referred to as an "exporter" and is based in the
country of export whereas the overseas based buyer is referred to as an "importer". In
International Trade, "exports" refers to selling goods and services produced in the home
country to other markets.
Export of commercial quantities of goods normally requires involvement of the
customs authorities in both the country of export and the country of import. The advent of
small trades over the internet such as through Amazon and eBay have largely bypassed the
involvement of Customs in many countries because of the low individual values of these
trades. Nonetheless, these small exports are still subject to legal restrictions applied by the
country of export. An export's counterpart is an import.

Deemed Exports
Deemed exports refers to those transactions in which goods supplied do not leave
the country & payment for such suppliers is received either in indian rupee or in
free foreign exchange.
following categories of supplies by main / sub contractors shall be regarded as
"deemed exports" under foreign trade policy, provided goods are manufactured in
India.
Supply of goods under advance authorization / dfia (duty free import
authorization).
Supply of goods to eous / stps / ehtps or btps.
Supply of capital goods to holders of authorization under epcg scheme.
Supply of goods to projects funded by multilateral or bilateral agencies or funds as
notified by dea.
Supply of capital goods to fertilizer plants.
Supply of goods to power projects & refineries.
Supply to project funded by un agencies & nuclear power plants etc.
Re-Exports
The term re import and re export are used in international trade commonly. Let
us distinction between re exports and re imports with simple example below.
In simple terms, let me describe about re exports. If you categories exports as
foreign goods and domestic goods, the export of foreign goods is called re-exports.
This is the simplest method of understanding about re-exports. If any goods imported
from another country (it becomes foreign goods) and thereafter exporting back, such
goods are fell under re exports. For example, a machinery has been imported in to a
country for testing purpose and after necessary testing, the said machinery is sent
back. Here, the process of sending back such machinery is called re-exports.
If you categories imports as foreign goods and domestic goods, the import of
domestic goods is called re-import. This is the simplest method of understanding
about re-import. If any goods of a country is exported to another country and
thereafter importing back the same goods, such goods are fell under re imports. For

example, a machinery has been exported to a country for testing purpose and after
necessary testing, the said machinery is returning back to the country. Here, the
process of returning back such machinery is called re-imports.
In many cases re-imports and re-exports happen as the exported goods are not
satisfied with quality measures, goods exported not matching with the buyers
requirements, goods exported for specific purpose like project, exhibition etc.

DEFINITION OF 'COUNTERTRADE'
International trade in which goods are exchanged for other goods, rather than
for hard currency. Countertrade can be classified into three broad categories - barter,
counter purchase and offset.
Barter forms the oldest countertrade arrangement, and essentially involves the
direct exchange of goods and services having an equivalent value, but with no cash
settlement. In a counter purchase, the overseas seller agrees to buy goods or services
sourced from the buyer's country up to a defined amount. In an offset arrangement, the
seller assists in marketing products manufactured by the buying country or allows part
of the assembly of the exported product to be carried out by manufacturers in the
buying country; this practice is often found in the aerospace and defense industries.
Countertrade has its pros and cons. A major benefit of countertrade is that it
facilitates conservation of foreign currency, which is a prime consideration for cashstrapped nations. Other benefits include increased employment, higher sales, better
capacity utilization and ease of entry into challenging markets.
A major drawback of countertrade is that the value proposition may be
uncertain, especially in cases where the goods being exchanged have significant price
volatility. Other disadvantages of countertrade include complex negotiations,
potentially higher costs and logistical issues.

DEFINITION OF 'OFFSHORE'
An affiliate or subsidiary company set up in a foreign country with relatively
low taxes, which imports products produced by the parent company and exports them
to other countries. The establishment of offshore trading companies can help a
corporation to avoid tariffs and duties targeted at destination markets, by routing trade
goods through a nation with less restrictive trading policies.
Located or based outside of one's national boundaries. The term offshore is
used to describe foreign banks, corporations, investments and deposits. A
company may legitimately move offshore for the purpose of tax avoidance or
to enjoy relaxed regulations. Offshore financial institutions can also be used for
illicit purposes such as money laundering and tax evasion.
Offshore can also refer to oil and gas drilling operations that are conducted in
the ocean.
Many countries, territories and jurisdictions have offshore financial centers
(OFCs). These include well-known centers like Switzerland, Bermuda and the
Cayman Islands, and less-well-known centers like Mauritius, Dublin and Belize. The
level of regulatory standards and transparency differs widely among OFCs. Supporters
of OFCs argue that they improve the flow of capital and facilitate international
business transactions.