How to leverage customs import-export data in trade and business in 2022

One of the best methods to learn about a country’s import and export activities is to use customs import and export data. It benefits traders and business owners, especially those in commodities trading.

Every nation has unique methods and regulations for conducting export-import trade. Consider Singapore, which is a successful exporter and importer. Look at Singapore’s important imports and exports with its major trading partners:

Imports of Singapore (June 2022)

• Non-oil: 45,625.15 (SGD Million)
• Machinery and transport equipment 28,851.12 (SGD Million)
• Electronics: 14,991.97 (SGD Million)
• Oil: 14,071.87 (SGD Million)

Exports of Singapore (June 2022)

• Non-oil: 51,597.58 (SGD Million)
• Machinery and transport equipment: 32,840.82 (SGD Million)
• Domestic: 30,154.04 (SGD Million)
• Electronics: 17,510.05 (SGD Million)

The statistics show that these products drive the import-export activities in Singapore. Merely knowing such numbers is not enough for business owners or traders to succeed in their businesses.

To truly understand the import-export market in Singapore, customs import-export data is what you should analyse for decision-making and strategy planning.

Without it, it is impossible to drive your trading business to success, regardless of whether you’re a newcomer or a seasoned expert. Import-export data helps locate reliable global suppliers and clients for your products or services.

The Advantages of Export and Import Data

• Helps one to outperform rivals in a competition consistently
• Maximise earnings while minimising all business risks
• Carries out effective trading activities with complete and accurate data
• Provides actual records of shipments that occurred in a specific nation
• Assists the industry in understanding its demands and provides proactive strategies in every aspect

It would be helpful to locate reliable suppliers, clients, and a potential worldwide market for your products or services. A company’s domestic or worldwide success is guaranteed by meticulous planning, in-depth research, and reliable and current data.

It is made simple by building a solid foundation for your organisation in international trade. Additionally, the initiative is needed to grow your business worldwide. Thanks to the information, you may get a feel of the current and upcoming market circumstances in various countries.

Customs Import and Export Data are on many websites and web portals today. To ensure maximum benefits and success for your company and business, we advise you to assess your data sources and credibility.

Trade Data Pro is a digital platform that consolidates cross-border import and export trade data from trade statistics departments worldwide and other reputable shipping companies.