Import Export Data for the Best Trading Business

Foreign trade has two chief components import and export. Exporting is the sale of goods or services from a home country to a foreign country. Importing is buying foreign commodities or services into your home country. International trade can occur between countries, businesses, and individuals. Exports allow businesses to increase profits and reduce their risks by increasing the size of their markets. Exports and imports provide employment and generate revenues for the government and companies. International trade ensures customers get the best product at competitive rates. Export import data showed that global trade slowed down fell by 5.3% in 2020 due to the pandemic.

Export-import data is no longer confined to numerical values but contains comprehensive information to allow trading businesses to grow. It allows import and export businesses to know about the latest market trends in the country of interest. The export import data allows trading businesses to maximize their profits with minimal risks. Traders can scrutinize the database to get updated and comprehensive information about the commodity they are trading in. They can get information about the market share, price, and volume. They can use the data to study the study business strategy of rivals.

Export import data India shows that India’s exported commodities 228.5 billion USD and imported commodities worth 300.26 billion USD from April- January 2020-21. The trade deficit in the same period was 72 billion USD. In January 2021, India’s trade deficit was 15.3 billion USD with India exporting goods valued at 27.45 billion USD and imported commodities worth 41.99 billion USD. As per export-import data India, India top trade partners are:-

• China
• The US
• United Arab Emirates
• Hong Kong
• Singapore

The import data is based on import documentation such as shipping bills, bills of lading, and other documents used by import-export traders. The import data is collected from customs officials, port authorities, different trade associations, shipping bodies, etc. Information typically present in the import data are:-

• Date of shipment
• Importers name and address
• HS Code and description
• Origin Country and port
• Quantity and gross quantity
• FOB
• Mode of shipment
• Destination country and port