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There are several reasons why you might want to export your RefWorks references. Exporting references is one way to share references with classmates or colleagues (RefShare is another option -- see the tab about RefShare for more information).
If you use another citation management tool, you might want to transfer some of your references there, or you may be switching schools, and need to create an account at your new institution.
You can choose a particular folder you'd like to export, or you can export all of your references. Once you select a format and hit "Export," a file will be saved to your computer.
The reason for exporting will determine the format you should export in.