Import Export Data - To Understand Import Export Trade Business
Import Export Data - To Understand Import Export Trade Business
International trade is the economic transaction for goods or services between the two countries. International trade is an old-age practice and has shaped history. The import-export business that remains popular can be very profitable. Importing and exporting is lucrative. The import-export data of India shows the country imported 598.61 billion USD and exported 528 billion USD.
Import-export trade data is the foundation of international trade business. Whether you are running an export Management Company or an export trading company, an import/export merchant, you need authentic data to make your business plans. International business is affected by geopolitical events and tariffs. Import-export trade data can disclose an in-depth analysis of national and international markets. They can discover consumer patterns. Businesses can learn about the mechanics of the supply chain and domestic demand for products. It can understand the recent changes in the movement in the raw materials between the countries.
Export Data and import data is methodically collected from bill of entry, shipping manifest, and invoices submitted with customs. The database contains sea, air, and land shipment. The database contains:-
Exporters and importers name and contact details
Shipment date
HS Code with product description
Unit Rate & FOB in local currency & USD
Port of origin and country
Destination port and country
Transportation mode
Export data shows the main commodities exported by the country and the export partners. Exporters can use the data to get complete market data using the HS Code. It shows changing trends in the export market. e.g. top cars exported by India are:-
Ford Ecosport
Chevrolet Beat
Nissan Sunny
Hyundai Verna
VW Vento
Importers can use the import data to find comprehensive information about the product they trade-in. India imports nearly 83% of the oil it requires. India’s biggest import partners are Iraq, Saudi Arabia, and Iran.