The sale and shipment of goods or services from one country to buyers in another country.
Export is the process of producing goods or services in one country and selling them to buyers located in another country. For a business, exporting opens access to larger international markets, foreign currency revenue and reduced dependence on a single domestic economy.
In international trade, an export transaction is governed by a sales contract, agreed Incoterms, an accepted payment method (such as a Letter of Credit or advance payment) and a set of shipping and customs documents including the commercial invoice, packing list and Bill of Lading.
For Indian suppliers, exporting also requires an Importer Exporter Code (IEC) and compliance with the export rules of both the origin and destination countries.