What are the benefits of import export data in your business?

Import and exports are the two components of international trade. Import is when goods or service are bought from one country that are manufactured in another. Exports are when goods and services are produced in one country and sold in another. Import-export data are an excellent indicator of the economy. Countries around the world try to ensure their exports are higher than imports. If exports are higher than imports, it is called trade surplus. When imports are larger than exports it called trade deficit.

Import-export data shows the countries with trade surplus are:-

·        Germany

·        Japan

·        China

·        Netherland

·        South Korea

Import-export data plays a vital role in helping traders run their business profitably. The data helps traders make informed business decisions. Some of the biggest benefits of the database are:-

·        The data helps traders get in touch with prospective buyers. This is very useful if the importer or exported is entering a new market. Each country has unique set opportunities, the information helps importers and exporters understand the market and modify their marketing or purchasing strategy according to the information. The data helps them find buyers or sellers for their product.

 

· It provides comprehensive information about commodities they are trading in.  

·  It helps importers and exporters look for new market opportunities if they wish to diversify.

·    International trade is extremely competitive. Importers and exporter can monitor their competitor’s price strategy. 

Import and Export Data is collected from custom authorities, shipping companies, trading companies and port authorities. The data monitors the commodities imported and exported in any county. According to import and export data, the top traded commodities are:-

 

·        Cars ($130 billion)

·        Refined Petroleum ($825 billion)

·        Integrated Circuits ($804 billion)

·        Vehicle parts ($685 billion)

·        Computers ($614 billion)

 

Importers and Exporters Data gives you comprehensive information commodities they trade in, the countries they import or export their product, and their pricing. According to the importers and exporters data the top importers in the world are:-

·        United States

·        China

·        Germany

·        Japan

·        France

The top exporter countries in the world :-

·        China

·        United States

·        Germany

·        Japan

·        South Korea