There would be several reasons that a country decides to import product that is being produced locally. Importing goods is business, so a country would import products to make profits. If a country imports products that are also locally produced, then that means importing such products makes profit.
All countries need to—or choose to—import at least some goods and services for the following reasons: Goods or services that are either a....Goods or services
Exports and imports are important for the development and growth of national economies because not all countries have the resources and skills required to produce certain goods and services. Nevertheless, countries impose trade barriers, such as tariffs and import quotas, in order to protect their domestic industries.
Here are the two key benefits of exporting products to other countries:
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