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.
Trump Administration Approves First LNG Export License After Biden’s Freeze
The Trump administration has granted its first liquefied natural gas (LNG) export license since lifting the Biden-era pause, approving shipments… Read More
Automation Deadlock Fuels Inevitable January Strikes at US East and Gulf Coast Ports
Hopes for a resolution to the standoff between dockworkers and port employers on the US East and Gulf coasts are… Read More
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Wilhelmshaven Deep-Water Port Captures Strong U.S. Interest with Enhanced Transatlantic Connectivity
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Global Leaders Warn of Economic Fallout From Proposed Trump Tariffs
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Trade Wars & the Dinner Table: Which Foods Are Most Vulnerable to Import Tariffs?
A new study on behalf of Trace One has identified the potential impact of import tariffs and foreign good shortages on the U.S. food… Read More
Mexico’s $2.7 Billion Port Expansion Defies Trade Tensions
Mexico is forging ahead with a $2.7 billion expansion of its Port of Manzanillo, signaling confidence in global trade despite… Read More
SC Ports Expand Rail Infrastructure Amid Stable Container Volumes
South Carolina Ports (SC Ports) continues to bolster its role as a logistics hub for the Southeast, supported by consistent… Read More
Biden Administration Commits $580 Million to Strengthen U.S. Port Infrastructure
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October Monthly Container Import Volumes Remain Above 2.4M TEUs, Straining U.S. Maritime Logistics
For four consecutive months, U.S. container imports have surpassed 2.4 million twenty-foot equivalent units (TEU)—a threshold that has historically strained… Read More
U.S. Port Import Surge Fueled by Strike Concerns and Potential Tariff Increases
U.S. container imports are projected to rise through the end of the year as retailers prepare for a possible East… Read More
DaChan Bay Terminals Expands Middle East Connections with New and Enhanced Services
DaChan Bay Terminals has strengthened its Middle East network with a new direct service launched on November 5, providing fast,… Read More
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