domestic market / single market
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domestic market
The market for goods and services within the borders of a single country, as opposed to the export market.
Viele kleine Unternehmen konzentrieren sich ausschließlich auf den Binnenmarkt.
Many small companies focus exclusively on the domestic market.
The word consists of 'Binnen-' and 'Markt'. 'Binnen' is an old word for 'inside' or 'within'. A 'Binnenmarkt' is therefore literally an 'internal market'.
Die Binnenschifffahrt findet auf Flüssen und Kanälen innerhalb eines Landes statt.
Inland shipping takes place on rivers and canals within a country.
When people speak generally about a country's economy in contrast to exports, the national market is meant. When it is about the European Union, it almost always refers to the common European economic area.
Die Firma verkauft ihre Produkte nur auf dem deutschen Binnenmarkt.
The company sells its products only on the German domestic market.
'Binnenmarkt' (domestic market / single market) is a technical term from economics and politics. You often read and hear it in the news, in newspapers, or in discussions about economic topics.
Die Ökonomen diskutierten über die Auswirkungen der neuen Regelungen auf den Binnenmarkt.
The economists discussed the effects of the new regulations on the single market.
In Europe, the word is almost always used in the combination 'der europäische Binnenmarkt' (the European Single Market). It is defined by the 'four freedoms': free movement of goods, people, services, and capital.
Die Freizügigkeit der Arbeitnehmer ist ein Grundpfeiler des europäischen Binnenmarktes.
The free movement of workers is a cornerstone of the European Single Market.
world market
'der Binnenmarkt' and 'der Weltmarkt' both refer to markets where goods or services are traded. However, they differ in their size and boundaries. 'der Binnenmarkt' is within a country or within a shared economic area such as the EU. 'der Weltmarkt' is global and includes international trade between many countries. Learners may confuse the words because both appear in business and economics texts. As a guide: 'Binnen-' means internal, while 'Welt-' means worldwide.
Viele kleine Firmen verkaufen ihre Produkte zuerst auf dem Binnenmarkt.
Many small companies first sell their products on the domestic market.
Der Preis für Kaffee steigt, weil die Nachfrage auf dem Weltmarkt wächst.
The price of coffee is rising because demand on the world market is growing.