Meaning of “parallel imports” in the English Dictionary

british dictionary

"parallel imports" in British English

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parallel importsnoun [ plural ]

uk /ˌpær.ə.lel ˈɪm.pɔːts/ us /ˌper.ə.lel ˈɪm.pɔːrts/ UK specialized

products that are bought unofficially in foreign countries by companies or people who then sell them more cheaply than usual in their own countries:

The tobacco industry loses millions every year due to parallel imports.

(Definition of “parallel imports” from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)