Understanding Global Import Export Data Through the Journey of Everyday Products

Everyday products have lives that most of us never see. A cup of coffee may go from a growing region to a processing plant and then on to a supermarket. A mobile phone may have components made in various countries, assembled in one place and then distributed to customers all over the world. Behind all of that is a whole raft of businesses, shipping routes, suppliers, buyers and international transactions that link the various parts of the world together.

Global Import Export Data enables businesses to explore these links and get a better understanding of how products actually move between countries. Instead of just looking at international trade as a set of figures, you can use the trade data to get a much clearer picture of the actual commercial relationships that underpin the goods we all use.

The Journey of a Product Begins Before It Reaches the Market

A product's international journey typically starts a long way before it ever gets to a port or a warehouse. The manufacturer will have to source raw materials, the distributor will be looking for a supplier and the retailer will be reliant on the product getting to their market at the right time. Each stage of the process may involve businesses in different countries.

A clothing manufacturer might buy the fabric in one country, source the accessories in another and then export the finished garments to overseas customers. That sort of thing is a good example of how you can look at the chain of events and work out where the product is coming from and where the demand is.

Global Import Export Data provides a means of looking at these commercial flows via the available shipment and customs data. The level of detail in the records will vary from country to country and data source to data source, but may include product descriptions, HS codes, shipment dates, origin and destination countries, ports and the names of the companies.

These details enable you to take a general question (where does the product come from?) and turn it into a much more specific enquiry as to where the product has been manufactured and where it has travelled.

How Trade Records Connect Products With Businesses

Products rarely cross borders without a network of commercial relationships behind them. The importer will have a supplier, the exporter will be looking for a customer and the manufacturer will have a distribution network. Trade records can be a useful source of information in this regard.

Imagine a business wanting to sell packaged food in a new market. Before they go to the customers they might well want to know what countries are supplying the product, whether there's any import activity and which of the businesses are actually in the shipping records.

By looking at the relevant trade information you can start to identify potential market participants and investigate what they're doing. The records won't necessarily tell you whether the company is a reliable one or whether they're currently interested in a new supplier, but they can at least provide a basis for further investigation.

This is where Exim Trade Data can help you take a more structured approach to international market research. You can look at the trade data to examine the flow of products, compare markets and spot potential commercial links before you even go any further.

Why Product Classification Matters in Global Trade Research

One product can be described in a whole host of ways by the manufacturer, the exporter, the importer and the customs authorities. That can make international research a right pain when you're relying solely on product names.

HS codes (Harmonised System codes) are used to classify the goods that are traded. They're a standard international classification system which allows you to restrict your search to a particular type of product and look at the trade in that product in a much more systematic way.

A company looking at industrial equipment might start with a fairly broad product description. It can then go on to look at the relevant HS code to narrow its search. The problem with this is that you do need to get the code right as products which are very similar can be in very different codes depending on the nature of the product.

Businesses can also make use of searchability via HS code, country, product and import export to explore the trade data available from a number of different angles. The most appropriate search method will of course vary depending on the research objective, the fields available on the platform and the amount of data available for the market in question.

Exploring Different Countries Before Expanding

A product that does well in one market may have quite different prospects in another. Customer preference, the level of competition, the regulatory environment, the cost of getting the product to market and the level of purchasing power all have an effect on the viability of a market overseas.

Country level research enables businesses to compare the differences prior to committing resources to expansion. A household goods exporter might look at the trade activity in a number of markets to see where similar goods are already being imported.

Using country-wise search will help to group your research around specific countries which in turn will make it easier to look at the import and export data available for those respective markets.

Shipment records should not be taken as the be all and end all of demand. A high volume of imports doesn't in any way mean that a new exporter will find it easy to get into the market. You need to blend the trade data with market research, pricing data, competitor reviews and the relevant regulatory checks.

Understanding the Value of Shipment Patterns

A single shipment gives you only a very limited perspective on international trade. Looking at the data over a longer period of time can provide a much more detailed picture of how goods move between markets.

Repeated shipments will of course point to an ongoing commercial relationship. A change in the frequency of shipments may indicate that the business has changed its sourcing activity . Seasonality can also be a useful indicator in terms of when certain goods are being traded.

Businesses can use the data on shipment dates, ports, product categories and the companies themselves to formulate questions for further investigation. An importer for instance might want to know whether a supplier has a history of exporting a particular category of goods or whether a product is shipped via a number of different ports.

These observations are of course most useful when interpreted with care. Incomplete records, variations in reporting practice and changes in product classification can all have an effect on comparisons between countries and over time.

Turning Trade Information Into Practical Business Research

The real value of trade information is in how it's used by businesses. It can be used to generate a shortlist of potential suppliers, to identify companies that are actually trading in a product category, to compare the merits of sourcing from different countries and to enable the business development team to ask more targeted questions.

A company looking at a new product would start by defining the requirements, selecting the appropriate product categories and identifying the relevant countries. It would then go on to look at the existing shipment records and examine the companies that appear in those records.

A wider range of services are available to support different research requirements (market research, product research, company research, international trade analysis etc). Any business looking to use a service for the purpose of making key decisions should take the time to check out the data coverage and the range of features offered.

For more targeted research an import/export data search can be a good starting point for looking at the available records in respect of the product, market or type of trade under investigation. It is vital that any significant findings are independently verified and it must be borne in mind that past shipment activity does not in any way guarantee that there will be a future opportunity.

Seeing International Trade Through Everyday Products

The story of a commodity is the story of the interlinking of the business and market. A fairly simple product can be the product of raw materials from one place, manufactured in another and distributed through a number of different markets.

Global Import Export Data enables researchers to look at these links in a more meaningful way by placing the available trade data in context. When coupled with careful product classification, country level comparisons and some market research it can help businesses to ask better questions about their suppliers, their buyers and the international markets they operate in.

For companies looking at global markets the aim isn't just to get more data. It's to understand what the data that's available can tell you and then to use that to make better decisions.

Frequently Asked Questions

What is Global Import Export Data?

Global Import Export Data is data on goods traded between countries. It will vary according to the source and the market but may include product descriptions, HS codes, dates of shipment, ports, countries and the names of the importers and exporters.

How can businesses use Global Import Export Data?

Can be used by businesses to research overseas markets, to look at the movement of products, to find potential suppliers and buyers, to compare different sourcing locations and to look at patterns in international trade. The findings should be combined with further research prior to any commercial decision being taken.

How does Exim Trade Data help with global trade research?

Exim Trade Data can be a good starting point for doing business research into import and export data. You'll need to check out the range of services it offers, the coverage and the search capabilities to see whether it's right for your particular market and product research.

Why are HS codes important in import and export research?

HS codes are a standard way of classifying traded products. They're useful to researchers in the sense that they allow you to hone in on your search and identify the relevant product categories. The caveat of course is that you do need to be very careful about the product in question in order to get the right code.

Can trade data help to identify international buyers?

Shipment records that are available may indicate which companies have imported a particular product or been involved in some other trade activity relating to that product. They can be a source of research leads but won't necessarily mean that the company is currently purchasing or interested in a new supplier.

What should businesses be looking at before using trade data?

Businesses should check the source's country coverage, the reporting period, the data fields available, the product classification and the level of record completeness. Any key findings should be verified against other reliable sources before they are used to inform business decisions.