I think you can, at least in the previous versions. Why not test yourself one or 2 products and see what happens?

Create a backup and you're save if something goes wrong....and you can always delete them again.

does it have to be named product 1 or I can give it any name?

You should be able to rename it.

Check out the help file, it will give you a lot of answers.

http://help.websitex5.com/en/v13/pro/carrello_importa_esporta.htm