Importing and exporting

Explain
Importing - Buying the product from the foreign countries
Exporting - Selling the product to the foreign countires
Advantage
Importing - The local people can get the product they can not produce.
Exporting - Expand the market to worldwide
Disadvantage
Importing - Lead the competition from the outside world
Exporting - The price is going up if the demand of the exporting goods are high