Customs statistics system Custom data servive system is […]
Global Import Export Data Trade analysis report
According to Global Import Export Data more than 400,000 identified US companies dealt in imports, exports, or both in 2013. Those US companies accounted for $1,401 billion USD in exports and $1,986 billion USD in imports.
Current subscription prices for detailed US Census customs data direct from the government are priced at either $200 or $400 USD per data issue per type, while subscriptions can be made monthly or annually. If a company wants Enterprises Trade Statistics across multiple types, they have to pay for each type separately. Thus, getting information for just one type of industry can cost well over $4,000.
In December of 2013, legislators presented to the US Congress an action plan for the creation and implementation of a unified trade data services meant to gather United States import and export data.Trade Statistics system—the “International Trade Data System” (ITDS)—is projected to launch in December 2016.
This system will streamline global import export data for every port in the US but does not include information for other countries. Even more, Enterprises trade statistics is meant only to report and display information, not analyze and evaluate it. Businesses involved in international trade need more out of trade data reporting.
In 2014, China (not including Hong Kong) exported over $2 billion USD in exports, with an annual export growth of 6% since 2013. With the increase in international trading and the recent openness of the Chinese market, China and other countries’ shipping records are being created with amazing speed. The difficulty comes with sorting through global trade data services.
Identifying, cataloguing, and foreign trade analysis the amount of raw data that global import export data generates is a cumbersome and lengthy job for individual businesses. Even more, it can be expensive on their own. Yet, this task is essential if they want to keep their competitive edge.
In answer to this problem, Inforvellor uses highly efficient IT skills and data collected from Global Import Export Data to categorize and maintain the timely updated trade information.