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What is "export duty"?


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Old 07-01-2009, 08:41 AM
agent agent is offline
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Default What is "export duty"?

I'm doing my IB commentary on economics and have trouble understanding this paragraph:A big concern is Russia, which supplies the majority of Europe's imported diesel. Russian oil companies refine much of their crude at home because of a tax system that levies higher export duties on oil than on petroleum products. If that were to change, however, Russia could decide to export more crude oil and fewer products, creating a big headache for the EU, which doesn't have the capacity to refine all that crude itself.If there's a higher export duty on oil, does that mean Russia makes more money exporting oil than petroleum?
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Old 07-01-2009, 08:41 AM
b2b b2b is offline
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Default What is "export duty"?

It's an export tax. This means that to sell it to someone outside the country, the price will be higher, thus discouraging the export of a product.
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Old 04-27-2011, 07:08 PM
ericbeer ericbeer is offline
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It's an export tax.This means that to sell it to someone outside the country,the price will be higher, thus discouraging the export of a product.
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