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.
The Landed-Cost Variables New Importers Commonly Miss
A first import quote can look reassuringly simple: unit price multiplied by quantity, plus freight. That total may be enough… Read More
Why U.S. Importers Should Evaluate Chinese Brand Distribution Fit Before Chasing the Lowest Unit Cost
Ask a room of U.S. importers how they compare Chinese suppliers and most will start in the same place: unit… Read More
Shipping Lines Shift Focus from Major Transshipment Hubs to Regional Relay Ports
Shipping lines are currently restructuring port connectivity by focusing on regional relay ports and specific export gateways, while reducing routes… Read More
Hormuz Reopening: What It Means for Global Shipping
Hormuz Flows are Rising, but don’t Call it normal yet: What the US-Iran MoU really means for Global Shipping The… Read More
What U.S. Importers Should Understand About Canadian CBSA Requirements
The complexity of shipping into Canada is often underestimated by U.S. importers, leading to avoidable costs, delays, and compliance exposure… Read More
Hormuz Shutdown Pushes Global Shipping to Breaking Point
The crisis in the Strait of Hormuz has escalated into an unprecedented disruption to global shipping, with vessel movements through… Read More
U.S. Launches Tariff Refund Portal as Firms Move Fast to Recover Billions
U.S. importers are racing to reclaim billions in tariff payments after a long-awaited government refund portal officially went live Monday,… Read More
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
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