Customs duty, a type of indirect tax, is charged on all imported commodities and some items that are exported outside of the country. Import tariffs and export duties are terms used to describe taxes imposed on the import and export of products, respectively. Import duty is also known as customs duty, tariff, import tax or import tariff. Import duty is levied when imported goods first enter the country. Exports are goods that are sold in a foreign market, while imports are foreign goods that are purchased in a domestic market. 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.