Is it really bad for a Country to import most of its goods?

[Chibson]

Hong Kong is now part of China. We were a British colony before 1997.

Okay, I think I need to read a lot of history regarding many countries because I have found out that I am lacking behind in that area. From what I have heard so far I think it is a good place to be.

 

[IB D]

The price of sachet water has more than doubled over the past few months. You can't even talk about foodstuffs. It takes a lot to eat a good meal in Nigeria as it stands. And when you factor in the cost of importing goods, then we are finished.

 

[Chibson]

The price of sachet water has more than doubled over the past few months. You can't even talk about foodstuffs. It takes a lot to eat a good meal in Nigeria as it stands. And when you factor in the cost of importing goods, then we are finished.

I think the major reason why the price of products keep on skyrocketing is that a lot of things are imported. There are some certain things that shouldn't be imported into the country instead local companies should produce them.

 

[IB D]

When a country depends on importation to feed itself, it is a bad omen. And the funny part is that the best lands for agriculture is in Africa. But we have not been able to organize ourselves around it. We still import food.

 

[Chibson]

A country being productive is always important and necessary. if the import almost everything they use then the economy of that particular country will likely collapse because they are not producing anything.

 

[IB D]

Our own country is producing raw materials and importing the finished goods from that raw materials. It is very ironical. And adddd to that, we imprtf food, tech and other basic things of life.

 

[cherry123]

I dont think it is a good thing for most countries that are trying it at the moment. They will have to pay heavily on taxes and fees for the import.

 

[Chibson]

Our own country is producing raw materials and importing the finished goods from that raw materials. It is very ironical. And adddd to that, we imprtf food, tech and other basic things of life.

I think that is actually very bad. Exporting raw materials and importing finished product from that particular raw material will actually make the country to go into deficit in the future. It does not make sense in my own opinion.