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.
Essential Guidelines for US Freight Forwarders
In a bid to clarify export compliance responsibilities, the Bureau of Industry and Security (BIS) has recently issued comprehensive guidance… Read More
AAL Pulling its Weight in Venezuela
AAL has successfully delivered its first shipments of heavy lift cargo, destined for the Petroleos de Venezuela SA (PDVSA) Puerto… Read More
Morocco Becomes the Second African Country to Host a Wholly-Owned UPS Entity
UPS is strengthening its presence in the Kingdom of Morocco by investing 16 million Moroccan Dirhams ($1.6 million) in UPS… Read More
Penske Automotive Acquires Stake in Japanese Operation
International auto dealership company Penske Automotive Group (PAG) has acquired a 49 percent equity ownership stake in The Nicole Group,… Read More
DHL Expands with New Service Center in Memphis
DHL, the international express services provider, today announced that it moved into a new service center in Memphis that will… Read More
Port of Long Beach Moves Over Seven Million TEUs in 2015
Propelled by six consecutive months of rising cargo volumes in the final two quarters of 2015, the Port of Long… Read More
Preparing for 2016 Trade Developments
As the trade landscape continues to evolve, companies that are already global as well as those looking to expand their… Read More
GT USA Announces New Container Service Connecting Port Canaveral to Central America and Europe
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U.S. Presence at Arab Health 2016 Will Be Largest Ever
When Arab Health 2016, the world’s second largest healthcare congress and exhibition, opens January 25th at the Dubai International Convention… Read More
DHL Lays Tracks For China-Turkey Rail Corridor
DHL Global Forwarding has inaugurated a new service on the southern rail corridor between China and Turkey. The corridor occupies… Read More
Feds Seize Dietary Supplements Containing Kratom
U.S. Marshals, at the request of the Food and Drug Administration, seized 90,000 bottles of dietary supplements labeled as containing… Read More
Virginia Governor Signs Collaboration Agreement Between Virginia, Cuba Ports
During a marketing and collaboration mission to Cuba led by Virginia Governor Terry McAuliffe, the Virginia Port Authority signed a… Read More
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