Imports and exports are the terms used to describe the goods and services traded between nations. Imports Countries import goods that they cannot produce domestically, or that companies can supply to these countries at a higher quality or lower cost. The term can also apply to services rendered to residents of one country from non-residents. Even tourists fall under a loose definition of providing an imported service through the investment they make in hotels, restaurants and attractions. Import statistics can be difficult to track, because of varying definitions and inaccurate coverage. Most of the data collected comes from declarations to custom services. However, these would not account for goods imported to one member nation from another in the European Union (EU), since such products may be moved without customs controls. According to the World Trade Organization, the United States is the world’s largest importer (based on capital investment), followed by the EU, China, Germany and Japan. Exports Exports, simply put, are goods or services produced locally and sold abroad. This may be done as a way to boost the producing nation's gross output, or in exchange for more desired products or services. China has been the world's largest exporter of goods since 2009. Official estimates suggest Chinese exports amounted to $1.904 trillion in 2013. This represents a significant reversal of policies in place for much of that nation’s history, when a more protectionist stance was taken in trading policies. The EU ranks second in exports, followed by the United States, Germany and Japan.
Top Trade Agreements to Watch: Implications for U.S. Exporters in 2025
As the global economy continues to evolve, trade agreements play a vital role in shaping the landscape for exporters. For… Read More
CMA CGM Sees Surge in China–U.S. Cargo as Tariff Truce Sparks Trade Rebound
CMA CGM, the world’s third-largest container shipping company, is reporting a sharp rise in outbound China cargo demand following the… Read More
U.S. Ports Warn Crane Tariffs Will Stall Growth, Urge USTR to Reconsider
The American Association of Port Authorities (AAPA) is urging the Office of the United States Trade Representative (USTR) to abandon… Read More
Tariff Truce Triggers Shipping Surge as Peak Season Shifts Early
Major shipping carriers are canceling multiple weekly routes between China and the United States as the fallout from the Trump… Read More
China’s Exporters Gear Up as U.S. Trade Talks Spark Hopes of Revival
Chinese exporters are ramping up preparations to resume shipments to the United States, as trade negotiations between Washington and Beijing… Read More
How AI is Navigating the Chaos of Trade Compliance Amid President Trump’s Tariff Turmoil
Global trade has always been a labyrinth of regulations, tariffs, and paperwork. But in the current trade climate, the rules… Read More
C3 Solutions Releases the ‘2025 State of Yard and Dock Management’ Report
Marking its 25th anniversary milestone, C3 Solutions, a leading global provider of yard and dock management solutions, proudly announces the… Read More
US-China Trade War Update: What Businesses Need to Know
A Thaw in the Trade War? What Trump’s Tariff Rollback Really Means for Business The announcement came like a late-season… Read More
U.S. Importers Face Millions in Fees for Improper Declarations
Importers bringing goods into the U.S. were recently found to have improperly declared imports, leading to substantial duties and fees… Read More
China Considers Exempting Certain U.S. Imports from 125% Tariffs
China is reportedly considering exempting certain U.S. imports from its hefty 125% tariffs, signaling a potential easing in the ongoing… Read More
Hapag-Lloyd Sees U.S.-China Tension Slash Shipments, Southeast Asia Steps In
Hapag-Lloyd says nearly a third of its shipments from China to the United States have been canceled amid growing uncertainty… Read More
Trump Tariffs Promise Increased False Claims Act Scrutiny for Companies Throughout the Import Chain
Introduction In a series of actions since Inauguration Day, President Trump has imposed steep tariffs on key U.S. trading partners… Read More
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