Question

Find two import quota examples

Answer 1

Import Quotas are restrictions / limit imposed by a govt on the amount of its imports. The country cannot import more than the limit it has set. It decreases imports and reduces the economic welfare of the country at times.

1. Example -: India had imposed quotas of 5million tons on annual import of pulses in 2017 i.e. India cannot import more pulses than 5 million tonnes.
2. Example -: European Union imposed Quotas upto 230,000 tons on sheep and goat meat on annual basis from New Zealand in 2018 i.e. European Union cannot import more than 230,000 tons of meat from New Zealand.