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.
WTO Forecasts Africa’s Export Surge Amid Global Trade Recovery in 2024
According to the latest trade outlook from the World Trade Organisation (WTO), Africa is poised to experience the fastest export… Read More
Maersk joins WTO’s Global Alliance for Trade Facilitation
The Maersk Group has joined the Global Alliance for Trade, an organization announced at the recent 10th WTO Ministerial Conference… Read More
Can European Wine Producers Adapt to Changing World Market?
Currently the three leading European wine producers—Italy, France and Spain—account for two-thirds of wine exports, in terms of value and… Read More
California Exports Take a Dive
California’s merchandise export trade fell 5.4 percent in October from the same month last year, according to a Beacon Economics’… Read More
Commerce Preliminarily Finds Subsidization of Cold-Rolled Steel Imports from Brazil, China, India, and Russia
On December 16, 2015, the U.S. Department of Commerce announced its preliminary determinations in the countervailing duty (CVD) investigations of… Read More
U.S. Trade Deficit Widens in October
The U.S. trade deficit widened 3.4 percent in October to $43.9 billion as exports fell to their lowest level in… Read More
Steelworkers Leadership Urges Rejection of TPP
The international executive board of the United Steelworkers (USW) adopted a formal resolution urging rejection of the proposed 12-nation Trans-Pacific… Read More
UPS Covers Last Mile With Connect India
Connect India is now a UPS authorized shipping outlet that is expected to connect customers in semi-urban and rural regions… Read More
WTO Ministerial Delivers IT Agreement
Nairobi, Kenya – At long last, the effort to expand the Information Technology Agreement (ITA) is now irreversibly bound for… Read More
Mary Kay to Relocate Global Manufacturing Operations
International cosmetics brand Mary Kay Inc. has decided to build a new $100 million global manufacturing and research and development facility… Read More
WTO Finds Against U.S. COOL Labeling Rules
A World Trade Organization appellate panel has found that U.S. country of origin labelling (COOL) requirements for beef and pork… Read More
Should U.S. Require U.S. Ships for LNG Exports?
Proponents of the U.S. shipbuilding and maritime industries have been lobbying for a proposal that would require U.S. exports of… Read More
« Previous 1 … 201 202 203 204 205 … 224 Next »