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.
Export of U.S. Railway Goods Wagons Drops to $500M in 2023
U.S. Railway Goods Wagon Exports In 2023, shipments abroad of railway or tramway goods vans and wagons (not self-propelled) decreased… Read More
CargoWise One Ready for CBP Pilots
WiseTech Global has announced that development has been completed in CargoWise One to meet the requirements for U.S. Customs and… Read More
Georgia Plans New Appalachian Inland Intermodal Port
Georgia Governor Nathan Deal, the Georgia Ports Authority (GPA), Murray County, and CSX Transportation have signed a memorandum of agreement… Read More
Senate Committee OK’s Lifting Ban on U.S. Oil Exports
The U.S. Senate energy committee has passed a bill that would lift a decades-old ban on the export of crude… Read More
What’s Keeping Manufacturers Up at Night?
U.S. manufacturing is experiencing a growth revival, but concern around labor shortages is escalating. In fact, 98 percent of manufacturers… Read More
EC Report: Lifting Turkish Truck Quotas By Europeans Would Boost Trade, Jobs
A recent report prepared by the European Commission revealed that trade volume between member states of the European Union and… Read More
WTO Members Eliminate Tariffs on $1 Trillion in IT Trade
The World Trade Organization announced today that negotiators from 54 countries reached an agreement which would expand the Information Technology… Read More
Argentina’s Import Restrictions: What’s Next?
Earlier this year, the World Trade Organization Appellate Body found that certain practices of the government of Argentina with respect… Read More
Increasing Stockpile of Trade-Restrictive Measures Found By WTO
The increasing stockpile of trade-restrictive measures introduced by WTO members remains a cause for concern, and continued vigilance is required,… Read More
U.S. Steel Producers Win Preliminary Ruling From U.S. International Trade Commission
The U.S. International Trade Commission (ITC) made a unanimous preliminary determination that corrosion-resistant steel (CORE) produced in five foreign countries… Read More
Texas Company Recognized by U.S. Trade Representative for Export Growth
Keats Southwest, an El Paso, Texas-based company, has been recognized by the Office of the United States Trade Representative for… Read More
White House Slammed for ‘Restrictive’ Energy Export Policies
The U.S. is missing an opportunity to become a global powerhouse “as antiquated federal laws that limit energy exports are… Read More
« Previous 1 … 219 220 221 222 223 224 Next »