Imports and exports are a critical part of the global trade and economy. Businesses today are keen to expand beyond their domestic market. Businesses today have the opportunity to get raw materials at the best possible rates. Intense competition ensures manufacturers produce high-quality goods as efficiently as possible. It is vital traders are aware of the changes in international trade. Customs import data and Indian customs export data contain the updated statistics of import and export transactions in India.
Customs duties are indirect taxes charged on imports and exports of commodities. Custom duty is collected by the Central Board of Internal Taxes and customs by the Government of India. The rates are decided by the Government of India. Custom import data is collected when goods enter the country. It contains shipment date, Indian importers name and address, Origin country, Indian port, HS Code, product description, quantity, price, and duty paid. It is an invaluable market intelligence tool allowing traders to make sound business decisions.
Traders use custom import data to find new customers for risk profiling, statistical, and trade analysis. They find the single source of data for all applicable duties very convenient. We provide our users with updated rules and rates on our website.
As per the customs import data, India imported commodities worth 389.18 billion USD in 2020-21. The top imported commodities are mineral oil, fuel, and wax (28% of total imports), electrical machinery and ancillaries (11.5% of total imports), Pearls, precious & semi-precious gems, precious metal, and jewelry (11.1% of total imports), nuclear reactors, boilers, and mechanical machinery and equipment (9.64% of total imports), and organic chemicals (4.93% of total imports).
Custom export duty is charged by the government on specific commodities. Our Indian custom export data has a user-friendly interface allowing buyers or sellers to do a product-wise search. This allows them to evaluate and shortlist potential business partners based on business volumes. They can get business insight by examining the other suppliers used by their customers. The data will help exporters find alternative markets to market their products. They can study the price and volume patterns before entering any market. The database allows them to identify the demand for a product in a particular region.
The Indian custom export data shows that India had exports amounting to 290.63 billion USD in 2020-21. The top exported commodities are petroleum products (9.5% of exports), pearls, precious and semi-precious stones, jewelry, medicinal products (6.68% of exports), nuclear reactors, boilers, and machines (6.52% of exports), and organic chemicals (6.32% of exports).