Export Duty (Noun)
Meaning
A duty imposed on exports.
Classification
Nouns denoting possession and transfer of possession.
Examples
- The government has reduced the export duty on certain goods to increase international trade.
- Export duty is a significant source of revenue for many countries with a strong export-oriented economy.
- The country's decision to impose an export duty on crude oil has led to a decline in foreign sales.
- To promote domestic industries, the government has increased the export duty on raw materials.
- The company has to pay a significant amount as export duty for shipping its products to other countries.