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.
May 2024 U.S. Containerized Imports Break 2.3M TEUs
Descartes Systems Group, the global leader in uniting logistics-intensive businesses in commerce, released its June Global Shipping Report for logistics… Read More
WTO Forecasts Africa’s Export Surge Amid Global Trade Recovery in 2024
According to the latest trade outlook from the World Trade Organisation (WTO), Africa is poised to experience the fastest export… Read More
Descartes Releases April Global Shipping Report: March U.S. Import Container Volume Continues Strong Trajectory
Descartes Systems Group, the global leader in uniting logistics-intensive businesses in commerce, released its April Global Shipping Report for logistics and… Read More
World’s Best Import Markets for Plywood in 2023
The global market for plywood is a lucrative one, with numerous countries engaging in the import and export of this… Read More
Top Import Markets for Truck and Bus Tyres in the World
When it comes to the global market for truck and bus tyres, certain countries stand out as major importers in… Read More
Top Import Markets for Cherry and Sour Cherry
When it comes to importing cherries and sour cherries, several countries stand out as major players in the global market…. Read More
Top 10 Import Markets for Cocoa Bean in the World
When it comes to the global trade of cocoa beans, there are several countries that stand out as major import… Read More
Top Import Markets for Iron and Steel Wire in 2023
Iron and steel wire are essential materials used in a variety of industries, including construction, automotive, and manufacturing. As such,… Read More
Top 10 Countries for Cement Imports in 2023
When it comes to the global cement market, certain countries stand out for their significant import volumes. These countries play… Read More
Blood Export in United States Sees Drastic Decrease to $71M in December 2023
U.S. Human And Animal Blood Exports In December 2023, overseas shipments of human blood and animal blood prepared for therapeutic,… Read More
December 2023 Sees U.S. Stationery Imports Plummet to $47M
U.S. Stationery Imports In December 2023, stationery imports into the United States shrank remarkably to 13K tons, reducing by -26%… Read More
Best Import Markets for Sportswear Around the World
Sportswear has become a staple in the wardrobes of people around the world, not just for athletic activities but also… Read More
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