Acording to dominating economic theory, the restrictiveness, lack of trade openness will have an economic effect of slowing economic development/growth.
IMPORTING AND EXPORTING.
EXPORT: Is the sale of goods to a foreign country. Countries want to be net exporters rather than net importers, because net exports increase the wealth of a country, the profits, the economy, etc.
IMPORT: Is the purchase of a foreign manufactured goods in the buyer´s domestic market. The imports are important for businesses and individual consumers.
Exporting and importing helps grow national economies and expands the global market.
Formal trade barries are not neccesarily created to hinder import of good but have the effects of doing so.
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