This video demonstrates multiple methods for creating, exporting, and importing custom modules in Node.js. The tutorial begins by creating a module, `operations.js`, containing functions for addition, subtraction, and multiplication. The first export method uses `module.exports` to make these functions available. The video then shows how to import this module into another file using `require()`, demonstrating how to access and use the exported functions. The example shows how to call the imported functions and display the results in the console. The presenter notes that arrow functions could also be used instead of traditional function declarations for exporting.