Trade data

Last updated

Trade data, or import and export statistics, consist of statistical data about international trade, typically organized by time period, country, and commodity (using HS codes). They are used by governments, corporations, manufacturers, law firms, trade associations, and international organizations to monitor the commodity markets relevant to their interests. [1]

Contents

Data coverage

Different sources of trade data may provide more or less complete data coverage, and more or less detail:

Uses

Sources

National Sources

The ultimate source of trade data for a particular country is at the national level, usually the national statistical office, but sometimes "central banks, customs administrations and specialized governmental organizations." [28] Some nations make their trade data publicly available online (in interfaces of varying user-friendliness), others provide it upon request, and yet others do not publish their trade data directly. To view data from multiple countries, or data from countries that do not publish their own data directly, users must rely on intergovernmental or commercial organizations that compile trade data from multiple national sources.

Intergovernmental Sources

Commercial Sources

Although commercial sources charge for their services, they often offer some advantages over intergovernmental sources. For example, UN Comtrade is the official trade data source of the United Nations but is limited in the timeliness of its data. As of 14 October 2020, UN Comtrade only had January 2020 data for 73 countries, and only had August 2020 data for 15 countries. [29] By contrast, the trade data company Trade Data Monitor boasts over 100 countries’ monthly data available "within hours of release from the source." [30] China provides a striking example: as of 2020, UN Comtrade’s latest monthly data for China was from 2017, [29] whereas Trade Data Monitor regularly reports China's trade statistics for the previous month. [31] [32] [33]

Related Research Articles

<span class="mw-page-title-main">Economy of Malawi</span>

The economy of Malawi is $7.522 billion by gross domestic product as of 2019, and is predominantly agricultural, with about 80% of the population living in rural areas. The landlocked country in south central Africa ranks among the world's least developed countries and poorest countries. Approximately 50% of the population lives below the national poverty line, with 25% living in extreme poverty.

<span class="mw-page-title-main">Economy of Mongolia</span> Economy of an Asian sovereign country

The economy of Mongolia has traditionally been based on agriculture and livestock. Mongolia also has extensive mineral deposits: copper, coal, molybdenum, tin, tungsten, and gold account for a large part of industrial production. Soviet assistance, at its height one-third of Gross domestic product (GDP), disappeared almost overnight in 1990–91, in the time of the collapse of the Soviet Union. Mongolia was driven into deep recession.

<span class="mw-page-title-main">Economy of Niger</span>

The gross domestic product (GDP) of Niger was $16.617 billion US dollars in 2023, according to official data from the World Bank. This data is based largely on internal markets, subsistence agriculture, and the export of raw commodities: foodstuffs to neighbors and raw minerals to world markets. Niger, a landlocked West African nation that straddles the Sahel, has consistently been ranked on the bottom of the Human Development Index, at 0.394 as of 2019. It has a very low per capita income, and ranks among the least developed and most heavily indebted countries in the world, despite having large raw commodities and a relatively stable government and society not currently affected by civil war or terrorism. Economic activity centers on subsistence agriculture, animal husbandry, re-export trade, and export of uranium.

<span class="mw-page-title-main">Economy of Pakistan</span>

The economy of Pakistan is categorized as a developing economy. It ranks as the 24th-largest based on GDP using purchasing power parity (PPP) and the 46th largest in terms of nominal GDP. With a population of 241.5 million people as of 2023, Pakistan's position at per capita income ranks 161st by GDP (nominal) and 138th by GDP (PPP) according to the International Monetary Fund (IMF).

<span class="mw-page-title-main">Economy of Senegal</span>

The economy of Senegal is driven by mining, construction, tourism, fishing and agriculture, which are the main sources of employment in rural areas, despite abundant natural resources in iron, zircon, gas, gold, phosphates, and numerous oil discoveries recently. Senegal's economy gains most of its foreign exchange from fish, phosphates, groundnuts, tourism, and services. As one of the dominant parts of the economy, the agricultural sector of Senegal is highly vulnerable to environmental conditions, such as variations in rainfall and climate change, and changes in world commodity prices.

<span class="mw-page-title-main">Economy of Mozambique</span>

The economy of Mozambique is $14.396 billion by gross domestic product as of 2018, and has developed since the end of the Mozambican Civil War (1977–1992). In 1987, the government embarked on a series of macroeconomic reforms, which were designed to stabilize the economy. These steps, combined with donor assistance and with political stability since the multi-party elections in 1994, have led to dramatic improvements in the country's growth rate. Inflation was brought to single digits during the late 1990s, although it returned to double digits in 2000–02. Fiscal reforms, including the introduction of a value-added tax and reform of the customs service, have improved the government's revenue collection abilities.

<span class="mw-page-title-main">Economy of the Gambia</span>

The economy of the Gambia is heavily reliant on agriculture. The Gambia has no significant mineral or other natural resources, and has a limited agricultural base. About 75% of the population depends on crops and livestock for its livelihood. Small-scale manufacturing activity features the processing of peanuts, fish, and animal hides.

<span class="mw-page-title-main">Non-tariff barriers to trade</span> Other types of trade barriers

Non-tariff barriers to trade are trade barriers that restrict imports or exports of goods or services through mechanisms other than the simple imposition of tariffs. Such barriers are subject to controversy and debate, as they may comply with international rules on trade yet serve protectionist purposes.

The Harmonized Commodity Description and Coding System, also known as the Harmonized System (HS) of tariff nomenclature is an internationally standardized system of names and numbers to classify traded products. It came into effect in 1988 and has since been developed and maintained by the World Customs Organization (WCO), an independent intergovernmental organization based in Brussels, Belgium.

The Foreign Agricultural Service (FAS) is the foreign affairs agency with primary responsibility for the United States Department of Agriculture's (USDA) overseas programs – market development, international trade agreements and negotiations, and the collection of statistics and market information. It also administers the USDA's export credit guarantee and food aid programs and helps increase income and food availability in developing nations by mobilizing expertise for agriculturally led economic growth. The FAS mission statement reads, "Linking U.S. agriculture to the world to enhance export opportunities and global food security," and its motto is "Linking U.S. Agriculture to the World."

<span class="mw-page-title-main">China–Uruguay relations</span> Bilateral relations

Relations between the People's Republic of China and the Oriental Republic of Uruguay were first established in 1988. Relations were defined as “friendly and cooperative” by the Chinese government. The bilateral relation was promoted to a strategic partnership in 2016.

Port Import/Export Reporting Service (PIERS) is a trade information service offered by S&P Global Maritime Intelligence. Launched in the mid-1970s, PIERS is considered a pioneer in compiling digital data on global trade.

<span class="mw-page-title-main">Global trade of secondhand clothing</span>

The global trade of secondhand clothing is a long-standing industry, which has been facilitated by the abundance of donated clothing in wealthy countries. This trade accounts for approximately 0.5% of the total value of clothing traded worldwide, while by weight it accounts for 10%. However, in some countries, imported used clothing constitutes the majority of clothing purchased and used.

Foreign trade in India includes all imports and exports to and from India. At the level of the Central Government, trade is administered by the Ministry of Commerce and Industry. Foreign trade accounted for 48.8% of India's GDP in 2018.

Comext is a statistical database on trade of goods managed by Eurostat, the Statistical Office of the European Commission. It is an important indicator of the performance of the European Union (EU) economy, because it focuses on the size and the evolution of imports and exports.

The World Integrated Trade Solution (WITS) is a trade software provided by the World Bank for users to query several international trade databases.

<span class="mw-page-title-main">The Observatory of Economic Complexity</span> Data visualization platform

The Observatory of Economic Complexity (OEC) is an online data visualization and distribution platform for international trade data designed and owned by Datawheel. Through interactive visualizations, the OEC aims to make global trade data accessible and understandable.

The international trade of fine art is most precisely defined as the trade across nations of unique, non-reproducible works by an artist. The art trade contradicts typical international trade models since it is a culturally significant good. It is not treated by consumers the same way any other commodity would because of the aesthetic value that is unique to each piece. Despite existing as a finite physical piece, unique art is still considered intellectual property. This sparks the debate as to whether art exports should be restricted for nationalistic and cultural reasons, or liberalized for the sake of a healthier international market.

<span class="mw-page-title-main">Trade Data Monitor</span> Publisher of international trade data

Trade Data Monitor (TDM) is a trade data company based in Charleston, SC and Geneva, Switzerland. It procures and aggregates monthly import and export statistics for over 110 countries using Harmonized System commodity codes, offers specialized training in trade statistics, and provides clients with a searchable database and built-to-order statistical reports.

References

  1. ↑ "Home". Trade Data Monitor. Retrieved 15 September 2020.
  2. 1 2 Turner, Matthew (29 April 2019). "China's Golden Appetite" (PDF). Alchemist. 93: 10–12. Retrieved 12 August 2020.
  3. ↑ Switzer, Mike (20 December 2019). "Trade Data Showing New World Order?". The South Carolina Business Review. Retrieved 12 August 2020.
  4. ↑ Miller, John W. (17 March 2020). "The Impact of the Coronavirus on Chinese Trade". Trade Data Monitor: TDM Insights. Retrieved 12 August 2020.
  5. ↑ "HS Nomenclature 2017 edition: Chapter 1: Live animals" (PDF). World Customs Organization. Retrieved 3 September 2020.
  6. ↑ "Harmonized Tariff Schedule". United States International Trade Commission. Retrieved 2 September 2020.
  7. ↑ "G20 International Merchandise Trade Statistics" (PDF). OECD Statistics and Data Directorate. 27 August 2020. Retrieved 7 September 2020.
  8. ↑ "Austria". International Trade by Commodity Statistics. 2019 (6): 8–104. 18 October 2019. Retrieved 7 September 2020.
  9. ↑ Miller, John W. (7 September 2020). "China's Strong August Exports Fueled by Medical Masks, High-Tech". Trade Data Monitor: TDM Insights. Retrieved 15 September 2020.
  10. ↑ Miller, John W. (17 March 2020). "The Impact of the Coronavirus on Chinese Trade". Trade Data Monitor: TDM Insights. Retrieved 15 September 2020.
  11. ↑ Miller, John W. (23 January 2020). "Global Surveillance Economy Fuels Boom in High-Tech Communications Trade". Trade Data Monitor: TDM Insights. Retrieved 15 September 2020.
  12. ↑ Miller, John W.; McCune, Adam (14 September 2020). "Covid's Latest Victim: Textbooks". Trade Data Monitor: TDM Insights. Retrieved 15 September 2020.
  13. ↑ Miller, John W. (25 September 2020). "How Nigeria's Battered Oil and Gas Sector is Surviving Covid". Trade Data Monitor: TDM Insights. Retrieved 2 October 2020.
  14. ↑ "Market assessments: Fish and Fishery Products (Food Outlook)" (PDF). Food and Agriculture Organization of the United Nations. May 2019. Retrieved 24 June 2020.
  15. ↑ Miller, John W. (21 February 2020). "How U.S.-China Trade Dispute Is Reshaping Global Trade Flows". Trade Data Monitor: TDM Insights. Retrieved 2 October 2020.
  16. ↑ Bekkers, Eddy; Schroeter, Sofia (19 March 2020). "An Economic Analysis of the US-China Trade Conflict" (PDF). World Trade Organization. Retrieved 24 June 2020.
  17. ↑ Carter, Colin A.; Steinbach, Sandro (January–February 2020). "Impact of the U.S.-China Trade War on California Agriculture" (PDF). ARE Update. 23 (3): 9–11. Retrieved 24 June 2020.
  18. ↑ Carter, Colin A. (March–April 2018). "China's Retaliatory Tariffs and California Agriculture" (PDF). ARE Update. 21 (4): 1–4. Retrieved 24 June 2020.
  19. 1 2 Nti, Frank Kyekyeku; Kuberka, Lindsay; Jones, Keithly (2019). "Impact of Retaliatory Tariffs on the U.S. Pork Sector". Choices. 34 (4). Retrieved 24 June 2020.
  20. ↑ Miller, John W. (2 October 2020). "China Builds Up BRI Supply Chain For Covid-19 Vaccine". Trade Data Monitor: TDM Insights. Retrieved 2 October 2020.
  21. ↑ Ferek, Katy Stech; Zumbrun, Josh (12 April 2020). "U.S. Tariffs Hamper Imports of Sanitizer, Disinfectants, Some Companies Say". The Wall Street Journal. Retrieved 24 June 2020.
  22. ↑ O’Keeffe, Kate; Xiao, Eva (12 April 2020). "Amid Coronavirus Pandemic, China Bans Domestic Trade of Wild Animals, but Offers Tax Breaks for Exports". The Wall Street Journal. Retrieved 24 June 2020.
  23. ↑ Eilperin, Juliet; Stein, Jeff; Butler, Desmond; Hamburger, Tom (18 April 2020). "U.S. sent millions of face masks to China early this year, ignoring pandemic warning signs". The Washington Post. Retrieved 24 June 2020.
  24. ↑ "Goods barometer signals further weakening of trade into first quarter" (PDF). World Trade Organization. 17 February 2020. Retrieved 24 June 2020.
  25. ↑ Carter, Colin A. (2018). "Chapter 14. International Trade and California Agriculture" (PDF). In Martin, Philip L.; Goodhue, Rachael E.; Wright, Brian D. (eds.). California Agriculture: Dimensions and Issues. University of California Giannini Foundation of Agricultural Economics.
  26. ↑ "2019 Direct Versus Indirect Trade—Poland's Hidden Market for US Agriculture". United States Department of Agriculture. 15 April 2020. Retrieved 24 June 2020.
  27. ↑ "Decision Memorandum: Steel Propane Cylinders from the People's Republic of China" (PDF). United States Department of Commerce. 19 October 2018. Retrieved 24 June 2020.
  28. ↑ "National Practices in Compilation and Dissemination of External Trade Index Numbers" (PDF). United Nations Department of Economic and Social Affairs: Statistics Division. 2005. Retrieved 15 February 2021.
  29. 1 2 "Data Availability". UN Comtrade. Retrieved 14 October 2020.
  30. ↑ "Customized Trade Data Systems". Trade Data Monitor . Retrieved 14 October 2020.
  31. ↑ Miller, John W. (13 October 2020). "Chinese Demand Boosts Covid-19 Recovery". Trade Data Monitor: TDM Insights. Retrieved 15 February 2021.
  32. ↑ Miller, John W. (7 September 2020). "China's Strong August Exports Fueled by Medical Masks, High-Tech". Trade Data Monitor: TDM Insights. Retrieved 15 February 2021.
  33. ↑ Miller, John W. (7 August 2020). "China's Trade Surplus Rises in July on Exports of Stay-at-Home Technology and Lower Commodity Prices". Trade Data Monitor: TDM Insights. Retrieved 15 February 2021.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.