Summary: International trade is competitive. Export-import data is a vital tool for success in international trade. There are various tools you can use to obtain the latest data from internet. In this blog, we have elaborated on various benefits of data. Various statistics can be obtained from the database.
International trade has been occurring for centuries, but in recent years it has become a significant contributor to a country’s GDP. International trade is the trade between different countries. It has helped reduce poverty levels around the world.
It helps to improve the standard of living, provide more jobs, and provide the consumer with a greater choice of products. It helps to redistribute abundant raw materials available in one country to a country with scarce resources. It allows countries to gain a competitive advantage by specializing in a particular commodity. Countries can achieve economy of scale and produce goods at lower costs.
International trade is competitive. Importers and exporters looking to gain the edge in business use export-import data to stay a step ahead of the competition.
What is export-import data?
Export-import data contains shipping records of imports and exports from over 80 countries in the world. We use documentation from different government departments (customs departments, port authorities) and logistics or shipping companies. The export-import data contains the date of arrival, importers and exporters name, address, telephone, and email address, HS Code, product description, port and country of loading, port, and country of unloading, the unit quantity and gross quantity, value in USD and local currency, transportation mode, customs duty, and many more.
Benefits of export-import data for business
The export-import business is a high return business. But with any high reward venture, there are risks. Authentic export-import data helps to minimize the risks and maximize returns. The data helps traders to make sound business strategies.
Importers and exporters need to know the prevalent customer demands and trends. They plan a comprehensive business strategy based on export-import data. They can supply the product as per market demand.
The detailed export-import data will enable the traders to study their business rival’s marketing strategy. They can shortlist and select importers and exporters from their buying and selling volumes, prices, and patterns.
One of the best ways to utilize export-import data is for traders looking to expand their product portfolio and identify market potential. Historical data analysis allows traders to understand price and volume patterns.
Large countries like the US and India demand of the product can vary depending on the region. Traders study the data to understand the product demands in different parts of the country.
Logistic and shipping companies transport goods across the world. They apply the information present in the export-import data to allocate resources, find potential clients and plan how they will transport merchandise. Market analysts use the data and statistical data to generate detailed reports about their sector.
Manufacturers improve their profit margins by using export-import data. They can source raw materials from around the world at the best rates. They can explore new markets by expanding their existing market base. Suppliers can understand the supply chain movement of materials.
Where do you get the latest export-import data?
There are several resources available online to get the latest export-import data. You can contact trade bodies, government departments, or export-import data providers. Seair Exim Solutions has been providing genuine export-import data for over ten years.
We provide the export-import data to over 80 countries and have over 20,000 satisfied clients around the world. We provide data only after verifying the information assuring users of reliable information. Our easy-to-use database and fast servers ensure you get the required information at a click of a button. The monthly updated information ensures you get the latest information.
Our website gives users the latest Exim news and customs notifications making it the one-stop solution for your trading needs. We offer flexible subscription plans and offer a refund policy if you are dissatisfied. Users are assured of data confidentiality.
Statistics that can be learned from export-import data
Statistics reveal vital information about a countries top exports, imports, trade partners, and ports.
Users can learn the top trade partners of a country from export-import data. India’s export-import data tell us India’s top trade partners are China, the US, Saudi Arabia, and Iraq. China edged the US in 2020 to become India’s top trading partner. The bilateral trade between China and India was 77.7 billion USD and the trade between the US and India was 85.5 billion USD.
The export-import data lets us know if a country has a trade surplus or trade deficit. In 2020 India had a trade deficit of 98.74 billion USD. Imports dipped by 18% from the previous financial year to 388.92 billion USD and exports contracted by 7.4% to 290.18 billion USD.
The export-import data shows the top trading ports in India are Jawaharlal Nehru Port Trust (JNPT) handles 56% of containers in India. Port of Mundra is one of the busiest ports in the world. As per export-import data Port of Chennai has annual traffic of 1.5 million TEU. Shyama Prasad Mookerjee Port Trust is the gateway to Eastern India. V.O. Chidambarnar Port is an all-weather port.
According to export-import data shows that India’s top exports are mineral fuels and oils (10% of total exports), pearls, jewelry, precious stones and metals (8.87% of total exports), medicinal products (6.68% of total exports), nuclear reactors, boilers, and machinery (6.52% of total exports), and organic chemicals (6.32% of total exports).
The top imports from export-import data are mineral fuels, oils, and mineral oils (28% of total imports), electrical machinery and equipment (11.5% of total import), pearls, semi-precious and precious stones, and metal (11.1% of total imports), nuclear reactors, machinery, and boilers (9.64% of total imports), and organic chemicals (4.93% of total imports).
There are many export import data provider companies online on Internet. But for quality and updated data Seair Exim Solutions is one of the top companies. It offers import export data of more than 80 countries in the world.