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
Trump’s New National Security Team: Disaster For The Iran Nuclear Deal
Iranians gathered for picnics to mark sizdah bedar, the culmination of the annual celebration of the Persian new year (Nowruz.)… Read More
Is Trump Serious About Rejoining TPP?
Yesterday, multiple news outlets reported that President Donald Trump ordered US Trade Representative Robert Lighthizer to look into the possibility… Read More
Is Gas Global Yet?
Is gas a global commodity, like oil? The question comes up often, and the answer is usually “not yet.” But… Read More
US Issues Affirmative Preliminary Determination on Forged Steel Fittings from China
US Secretary of Commerce Wilbur Ross has announced the affirmative preliminary determination in the countervailing duty (CVD) investigation of imports… Read More
New EU Rules For Crossborder Parcel Delivery on the Horizon
Online shoppers and retailers continue to be confronted with high prices for deliveries to another EU country. Rates for parcels… Read More
WHEN PIGS AND TARIFFS FLY
1 China’s announcement that it would be imposing a 25 percent additional tariff on exported American pork could not have… Read More
CHOMPING AT THE BITCOIN
Bitcoin. What a joke! Remember? Yeah, that was a time not that long ago when the cryptocurrency was easily dismissed… Read More
Canada and Mexico May Be Big Winners From Steel Tariffs
As the Trump Administration slapped 25-percent tariffs on imported steel, two countries are set to be big winners. Back in… Read More
WATCH: The Digitization of US-Canada Crossborder Trade
Canada is the largest passenger gateway into the United States, with tens of millions of passengers entering every year; crossborder… Read More
US Agricultural Interests Want Trump to Back Off Trade War
Food and agricultural groups are urging the Trump administration to ease up on steel and aluminum tariffs, arguing that they… Read More
Bolloré Logistics Inaugurates New Foreign Trade Zone Facility in Miami
Bolloré Logistics USA has inaugurated its new Foreign Trade Zone facility in Miami. The new site of more than 200,000… Read More
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