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iMovie is a easy to use movie editor which can be used to import videos from different sources. You can also import a video from Mac which is stored on an internal or external hard drive. iMovie allows you to import DV, Mpeg-2 and Mper-4 video file formats. If you are importing video into iMovie for the first time, then the HD Import Setting will open automatically to ask you to select default size for importing HD video. You have 2 options to select file size i.e Large and Full. If you select the Large option, then it will reduce the size of the video to save space.