Global trade data

  At present, all the countries are taking part actively in global trade to expand their markets and to increase their economy. Global trade, as the term suggests, is a process of exchanging goods and services across international borders. Various processes that are included in it are exports, FDI, Imports, setting MNCs, job outsourcing, etc. Now the question arises that how to keep records of imports, exports, and entrepots of different countries on regular basis. For this, every country maintains its Global Trade Data which records all necessary information about the products, their prices, quantity, most imported and exported goods, etc. in one place so that it gets easy to understand for the trader. Global Trade Data is considered one of the 3Cs of foreign trade (compliance, content, and connectivity). Every detail about the product, source country, and the destination country is mentioned in the data. Global Trade Data is collected from each country and consists of shipme...

  ANALYSIS OF GLOBAL TRADE DATA TRENDS IN 2022 According to various experienced statisticians and experts, the Global Trade Data will be crossing the benchmark of USD 32 trillion in the year 2022. The world would have crossed this benchmark earlier only but due to the slow pace in the later six months of 2022, the trade practices were slowed down even more between the countries which will certainly impact the growth of global trade in the year 2023 due to the coming of geopolitical tensions and tight financial conditions. As per the Global Trade Data report for the year 2022, the trade of goods and services both grew despite the ongoing war between Ukraine and Russia. The trading of goods grew by 10%, whereas the trading of services grew by 15% reaching a mark of USD 25 trillion and USD 7 trillion respectively. It is estimated by the big authorities that global trade will decline in 2023 due to various reasons such as high energy prices, growth in interest rates, inflation, a...

  QUICK UPDATES ON GLOBAL TRADE DATA As per a Global Trade Data and Import-Export Data report, it is found that the Global Trade Data hit a record high of USD 28.5 trillion in the year 2021. Developing nations contributed more as compared to developed nations. According to the Global Trade update that was released by UNCTAD, the trade of goods remained strong and became like the pre-pandemic level only because of the developing nations who participated actively in trading goods. Due to this active participation of the nations, global trade reached a record high of USD 28.5 trillion in 2021, which is considered a rise of close to 25% and 13% when compared with 2020 and 2019 respectively. In the case of services, a rise of USD 50 billion in the year 2021 made the value cross a mark of USD 1.6 trillion. RISE IN TRADE DUE TO ACTIVE PARTICIPATION OF DEVELOPING NATIONS Based on a similar type of report, in the last quarter of the year 2021, all economies were able to reach their ...