What is meant by IMPORT?

For LP's? any record not pressed in the United States.
Pressings from UK, Holland, Germany are USUALLY better masterings or pressings over those in U.S., for certain types of music and certain artists. usually rock/pop. BUT if the mastering tape originated here in the US sometimes US pressings are better in some ways. Japaneses imports are better in some ways, like quality of vinyl, quietness and lack of surface noise but worse in other ways, sound 'flat' lack of 'space' or have a hard 'etched' sound.

For Compact Discs I couldn't tell you anything...

the 'import' sticker itself is the 'only' thing for certain about any given release, that is indeed an import. as to the quality of the pressing or superior sound...its a crapshoot.

In the case of Classical digital discs, I have found that quality goes with label, and it just happens that the best labels are European.