Foreign trade has two components imports and exports of goods and services. Exports are the sale of goods and services from India whereas imports are the purchase of goods and services from other countries. Foreign trade was 48.8% of India’s GDP in 2017. The percentage of trade fluctuates because of domestic policy and international market conditions. Trade statistics of a country can reveal facts about their chief imports, exports, the countries they trade with, their tariff structure in terms of duties, the most favored nations they carry out with.
We can find trade import data in two types of databases-
· Macro import data is reported by the government every quarter giving the total quantity imported against each HS Code.
· Micro import data contains detailed information about each shipping manifest as recorded in the customs department. It contains information on each bill of entry. Detailed product information, total price and unit price of each shipment and the name and contact details of the importer and exporter.
India trade data is a valuable database for any exporter, importer or trader who is dealing with foreign goods. The data explain the various tariffs and duties and the transportation costs added to each product. The data could be the basis for price negotiation.
The databases provided very good market intelligence for traders to determine market trends and a better platform to estimate future trends based on historical data provided in the database. Importers and exporters could use data to contact one another for the sell and buy products. They can also discover unexplored and untapped markets can via the India import-export trade data.
Import Export Trade Data India shows that exports are likely to be at record-high 330 billion dollars. The pharmaceutical, petroleum and engineering sector mainly drove the surge. The total goods and service exports rose 483.98 billion dollars. India imports totalled up to 507.6 billion dollars. The government of India is looking for ways to bridge this deficit and is in talks with different stakeholders.
Seair Exim Solutions is a leading export import data provider company in India. It offers updated, genuine, and reliable global import export trade data of more than 80 countries of the world such as India, USA, Russia, Kenya, Mexico, Indonesia, Sri Lanka, Vietnam, Pakistan etc. Our major services are USA imports data, India import data, India export data, import data Indonesia, Vietnam export data, Russia customs data, Mexico trade data, Kenya shipment data etc. You can find various free resources related to import export business like HS code list, HS code Finder, HS code Search, sac code list, sac code finder, custom duty in India, custom duty calculator, foreign ports, trading partners of India, GST rates in India, GST rates list and many more on our website – seair.co.in.
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