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
Egypt Offers Example How Developing Countries Can Plan For Ecommerce
Famed for its ancient souks and bazaars, Egypt is now looking to the future of commerce by backing a far-reaching… Read More
Drewry: Overcapacity Fears Over-Hyped
Predicting containership fleet growth is probably the most contentious and hardest task for any forecaster. The orderbook is constantly evolving… Read More
Currency Manipulation: Not a Concern for US-China Trade
For all of the talk of a trade war between the United States and China, there is one issue that… Read More
Why do Trump’s Announced Trade Policies Keep Coming Up Empty?
[Editor’s note: On Monday, the White House announced that the president was extending temporary exemptions to the steel and aluminum… Read More
Call for a Comprehensive Global Approach to Stopping Oil and Fuel Theft
The Transnational Alliance to Combat Illicit Trade (TRACIT) is urging governments and businesses to unite against the global problem of… Read More
DHL Expands Presence in NYC
DHL has recently expanded its operations in New York City to support international trade growth from area customers and the… Read More
EU: Digital Technologies Provide Opportunities for Africa
EU Commissioner Mariya Gabriel says Europe is dedicated to helping Africa build a single digital market, so that ecommerce can… Read More
Study: International Trade Supports 36 Million US Jobs
New economic analysis prepared for Business Roundtable finds international trade supports 36 million— nearly one in five—jobs in the United… Read More
Nobody Really Wins a Trade War
Are we seeing the start of a trade war? Although there is a long history of countries blaming each other… Read More
US Finds Dumping of Carton-Closing Staples From China
US Secretary of Commerce Wilbur Ross has announced the affirmative final determination in the antidumping duty (AD) investigation of imports… Read More
DHL CEO: ‘The Future is Global’
Optimism is warranted with regard to the global economic environment, and global trade will continue to grow despite many uncertainties…. Read More
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