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.
UN Flags Growing Economic Fallout from Hormuz Shipping Crisis
Global trade is bracing for a fresh wave of disruption as tensions around the Strait of Hormuz begin to spill… Read More
Shipping Faces New Threats as Conflict Widens in Iran Wars
The second month of the Iran wars has seen a sharp escalation in threats to global shipping. The entry of… Read More
German Exports to U.S. Slide on Tariffs as Intra-Europe Trade Lifts 2025 Performance
German exports to the United States fell sharply in 2025 as tariff policies introduced under President Donald Trump disrupted transatlantic… Read More
Aging Freighter Grounds Near Panama Canal Entrance
An aging freighter has gone aground on a sandy beach near the Atlantic-side entrance to the Panama Canal. According to… Read More
Port of LA Accelerates Green Shipping and Deepens China Ties for Rising Cargo Demand
According to China Daily, Port of Los Angeles Executive Director Gene Seroka stated the port is accelerating its push for… Read More
Container Freight Rates Slide as January Momentum Fades
Global container shipping rates fell sharply this week, giving back most of the gains from a short-lived January rally… Read More
USTR Extends Section 301 Tariff Exclusions on Chinese Imports Until 2026
The Office of the United States Trade Representative has extended tariff exclusions for 178 products imported from China. The announcement,… Read More
Container Shipping Prices Fall After Holidays, but Red Sea Risks Still Worry Industry
Global container freight rates have slipped for the first time in a month, signaling the start of the traditional post-holiday… Read More
Global Shipping Backs IMO Leadership Amid Carbon Pricing Delay
The world’s leading shipbuilders, shipowners, and classification societies have reaffirmed their commitment to the International Maritime Organization (IMO) as the… Read More
Tariff Turmoil Spurs Early Import Rush as U.S. Buyers Race to Beat Trade Uncertainty
A wave of tariff anxiety has driven U.S. importers to bring in next spring’s merchandise months ahead of schedule, with… Read More
The NRI Reckoning: How U.S. Import Reforms Are Reshaping Cross-Border E-Commerce
The Global Entry with Thomas Taggart — A bi-weekly column on navigating global trade, ecommerce, and compliance in a changing… Read More
China’s Port Fee Move Barely Ripples U.S. Shipping Market
China’s latest port fee expansion targeting U.S.-linked vessels has had a far smaller impact than anticipated, according to a new… Read More
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