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Not sure you'd call it an "inefficiency", but absolutely this happens.

Company A may own oil wells in Alaska and a refinery near Houston. Off the tankers go to Japan and Korea for the Alaskan crude, and in the tankers come from Venezuela to Houston.

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So with such trivial actions constituting an import or export, why do we use import/export as such an important measure, rather than where the imported thing was initially produced? Wouldn't that be where most of the value was added, and where most of the profit per unit of thing would flow to?

Not quite - especially in the commodities world - prices fluctuate and often ships can be at sea for months as the goods they carry are traded back and forth by companies based on energy contracts - in the end - something may have been produced in company X for 5€ and shipped when the price was 10€ - but by the time it arrives at its final destination its worth 50€ because the market has moved / the contract it was sold of was pegged at a higher rate

Indeed, "import" and "export" are merely nation-based lenses on regular trade. If you make the lens small enough, you or your family unit are "importing" all sorts of foods and products, and "exporting" a few mostly labor and services (you also have a terrific "trade imbalance" with your favorite baker and grocery store).

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