What are the advantages of an import oriented economy?

* Lower prices for consumers: Imports can help to lower prices for consumers by increasing competition in the domestic market. This is especially true for goods that are not produced domestically, or that are produced domestically but at a higher cost.

* Access to a wider variety of goods: Imports can increase the variety of goods available to consumers, giving them more choice and allowing them to find the products that best meet their needs. This can be especially important for goods that are not produced domestically.

* Economic growth: Imports can contribute to economic growth by providing businesses with access to the raw materials and inputs they need to produce goods and services. This can lead to increased production and exports, which can in turn generate more jobs and income.

* Employment opportunities: Imports can create job opportunities in sectors such as transportation, warehousing, and retail. These jobs can help to reduce unemployment and boost the economy.

* Innovation: Imports can encourage domestic businesses to innovate and improve their products in order to compete with the imported goods. This can lead to increased productivity and growth for the domestic economy.