Domestic producers are businesses and companies that operate within the borders of their own country and produce goods and services for local consumption or export.
Related terms
Import substitution: Import substitution is an economic policy that encourages domestic production instead of relying on imports. It aims to protect domestic producers by reducing dependence on foreign goods.
Export-oriented industries: Export-oriented industries focus on producing goods and services primarily for markets outside their own country. These industries rely heavily on international trade for revenue generation.
Globalization: Globalization refers to the increasing interconnectedness and integration of economies, cultures, and societies worldwide. It affects domestic producers by exposing them to global competition but also offering opportunities for growth in international markets.