República de Panamá
Universidad metropolitana De educación, Ciencias y Tecnología
Facultad de Ciencias económicas y Administrativas
Lic. En Administración de negocios con énfasis en Exportación de bienes y
servicios
Asignatura
Profesor
Estudiante:
Genesis Vega
C.I.P.:
Fecha
11/7/2025
Glossary in ingles
1. Import
Importing is the act of bringing goods or services produced in a foreign country into one's
own country for the purpose of resale, manufacturing, or consumption. Imports are
essential for providing consumers with a variety of products, especially those not locally
available, and they play a significant role in shaping national economies, influencing
inflation, and altering domestic employment trends.
2. Export
Exporting involves the shipment of domestically produced goods or services to foreign
markets. It enables businesses to expand their customer base globally, achieve economies
of scale, and strengthen a country’s GDP. Strategic exporting is often supported by
government incentives and international trade policies aimed at improving global
competitiveness.
3. Tariff
A tariff is a financial charge imposed by a government on imported goods or services. It
serves several purposes: protecting local industries from foreign competition, generating
public revenue, and sometimes functioning as a political tool in trade negotiations. Tariffs
can be ad valorem (based on value) or specific (based on quantity or weight).
4. Strategy
Strategy in a business or trade context refers to a long-term, forward-looking plan of action
designed to achieve a competitive edge, maximize profitability, and respond effectively to
changes in the market environment. A well-crafted strategy integrates market analysis,
resource planning, risk management, and innovation to sustain growth in both domestic
and global markets.
5. Price
Price is the amount of money required to purchase a good or service. It reflects production
costs, competition, market demand, perceived value, and other externalities like
regulations and tariffs. In international trade, pricing strategies also factor in currency
exchange rates, transportation costs, and local purchasing power.
6. Goods
Goods are physical, tangible items that can be touched, stored, and transported. They are
produced for consumption or resale, ranging from raw materials like oil and minerals to
finished products like electronics and vehicles. In trade, goods are subject to classification
systems (like HS codes) that determine customs duties, regulations, and documentation.
7. Copyright
Copyright is a form of legal protection granted to creators of original works, giving them
exclusive rights to use, reproduce, and distribute their creations for a certain period. In
international trade, copyright plays a crucial role in the digital economy and cultural
industries by protecting intellectual property across borders under treaties like the Berne
Convention.
8. Free Trade Agreement (FTA)
An FTA is a treaty between two or more nations that aims to reduce trade barriers and
foster economic integration. These agreements often cover a broad range of topics
including tariffs, intellectual property, labor standards, and dispute resolution mechanisms.
FTAs contribute to increased efficiency, investment, and economic collaboration between
signatory countries.
9. World Trade Organization (WTO)
The WTO is an international organization that regulates global trade by establishing legal
and institutional frameworks. It provides a platform for negotiating trade agreements,
monitoring trade policies, and resolving disputes between member states. By promoting
transparency and predictability, the WTO fosters fair and stable international trade
practices.
10. Trade
Trade is the economic activity of exchanging goods and services, either domestically or
internationally. It arises from the need for access to resources, specialization, and
comparative advantage. Trade can be bilateral or multilateral and involves various
mechanisms such as barter, currency exchange, and contractual agreements.
11. International Trade
International trade refers to the exchange of goods and services across national
boundaries. It enhances global efficiency by allowing countries to specialize in what they
produce best and trade for what they lack. It is influenced by factors such as global supply
chains, trade policies, exchange rates, and geopolitical relations.
12. Market
A market is a system or arena where buyers and sellers interact to exchange goods,
services, or assets. Markets vary in scale (local to global), structure (competitive to
monopolistic), and medium (physical or digital). In international economics, markets also
refer to consumer demand in specific geographic regions or industry sectors.
13. Logistics
Logistics involves the detailed planning, execution, and management of the flow of goods,
information, and services from point of origin to point of consumption. It is a vital
component of supply chain management and includes activities like transportation,
warehousing, order fulfillment, and inventory control. In global trade, efficient logistics
reduce costs and delivery times, enhancing competitiveness.
14. Services
Services are non-physical, intangible products provided to consumers or
businesses, such as finance, education, tourism, or IT support. Unlike goods, services
cannot be stored or transported but can be delivered digitally or in person. The
globalization of services—known as trade in services—is a growing field, especially in
areas like telecommunications, consulting, and e-commerce.
15. Transport
Transport is the infrastructure and process that enables the movement of goods, people,
and services across distances. It includes various modes—land (road, rail), sea, air, and
pipelines. In trade, transportation is a critical determinant of supply chain performance,
influencing cost structures, delivery speed, and market access.
