Tuesday, June 8, 2021

Importance of Import Export Data in India

Here we are gonna explain you the meaning of import export data and the importance in holds in any type of foreign trades.


Understand the significance of Import and Export data

Export Import Data
Export Import Data


Export Import data is mainly related to the bill of lading information of goods entering or leaving from India. 


The export imports data contains valuable information like supplier name, buyer name, product description, HS Codes, Quantity weight, unit, Value FOB and other information that helps you in your sourcing, prospecting and marketing strategies. 


There are many platform's like Xportmine which is an online platform that helps you understand and analyze shipment data to meet you sourcing and marketing requirements.


Bill of Landing and Export Import Data


The export import data is related to the issued bill of lading information of the goods entering or departing from India. 


These data contain very valuable information llike supplier name, buyer name, product description, HS code, quantity weight, unit, value FOB and other information to help you in your sourcing, prospecting and marketing strategy.


You can check out TradeSNS which is one of the most trusted importers of export data providers in India. It offers the most valuable business intelligence, convenient access, a pocket-friendly price to the popular searchable import-export trade database in India.


The reports given by import export data


You can visit the export import data provding goverment sites to get full details on the business done by India with a country, for ex :


India had a total export of 322,291,568.43 in thousands of US$ and total imports of 617,945,603.08 in thousands of US$ leading to a negative trade balance of -295,654,034.65 in thousands of US$ 


The Effectively Applied Tariff Weighted Average (customs duty) for India is 4.88% and the Most Favored Nation (MFN) Weighted Average tariff is 6%. 


The trade growth is 0.87% compared to a world growth of 3.50%. GDP of India is 2,718,732,231,300 in current US$.


India services export is 204,955,578,850 in BoP, current US$ and services import is 124,181,614,510 in Bop, current US$.India exports of goods and services as percentage of GDP is 19.74% and imports of goods and services as percentage of GDP is 23.64%.


The above report is certainly made on the references of import export data collected by the goverment.


The Real Importance of Export Import Data


Export Import data is not just an important thing but is the whole thing. In this cyber-era where every other business: from street retailer to Walmart need some (more than some) sort of data to remain competitive in the market, how could the entire Export- Import data have been spared?


Export Import data is the main intelligence converted into the data filled excel sheets and rendered to enhance your chances of finding the right market and right buyer. In the absence of any such important data you and other exporters and importers would still be relying on the directories such as the old Yellow pages.


Infodrive (Import Export Data, Export Import shipment data from Customs) and Zauba-corp (Zauba Corp) are best examples of the websites based totally on the provision of export Import data that have helped many businesses raise customers and also have made once rare data, highly easily accessible today.


We hope now you do understand the basics of export import data.


Check out the list of top exporters and importers of oranges in world.


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