International trade is the exchange of goods and services across the border of countries. The import and export of goods and services is a vital part of a country's economy. Foreign trade allows countries to expand their goods and services beyond national borders. Global trade ensures that goods and services are competitively priced.
Global trade data are one of 3 C (compliance, content, and connectivity) of foreign trade. The Data has the name and address of the two parties that are the importer and the exporter, and product information containing description, HS Code, the quantity of the shipment, price, and date of the shipment. Global trade data covers shipment from across the world and is collected separately for each country. This data is studied by exporters, importers, bankers and logistics service providers.
Exporters are business which sells goods and services to other countries by producing them in one country and selling it in another. International trade data is a vital tool to help exporter decide the commodity they wish to sell. They can study import figures for similar products and map growth potential in a new market. Exporters must keep abreast of the latest trade regulations and tariffs of the commodity they are selling. They must know cultural differences and local customs of a market and may need them to alter their products or packaging. International trade data contains information about ports. This data helps exporters to stay ahead of their competitors, improve their profit margin and reduce market risks.
Importers are businesses that bring goods and services from overseas countries to their home country. The importer must be familiar with various regulations for clearing the goods through customs. Foreign trade data will help importers start with their market research to analyse the potential of a product they wish to import. It is vital importers comply with government regulation and apply for permits if required. Importers should be familiar with the import duty of their products and take care of the logistics. Foreign trade data is an excellent starting point to get the contact details of potential sellers and buyers. Importers can then check the suitability of a prospective seller. Bankers help importers to work out a suitable payment schedule for the sale.
There are two types of global trader databases that are available-
Seair Exim Solutions has an excellent global trader database and offering insightful analysis of data of the import-export business. This micro and macro analysis is a vital tool used by traders to optimize their businesses. The company maintains a database for over 80 countries. Our main services import export data India, India export data, Indian import data, USA importers data, European Union import data, and so on.
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