GLOBAL TRADE DATA REPORT FOR THE YEAR 2022 – DETAILED INSIGHTS AND FACTS

 


A report or database created on a timely basis to record new or update old transactions of a nation that it has made through Imports and exports is called a Global Trade Data report. This report is created by the most experienced data analysts and other related officials. The data entered in the Global Trade Data report is collected from only official and trusted sources like customs ports, government bodies, and political institutions.

Nowadays, a term known as “supply-chain disruption” is becoming popular as it is negatively affecting the global market. The things happening under this disruption are food shortages, non-availability of products, inflation, and political tensions. These happenings are affecting Global Trade negatively. There is no doubt that the firms who deal in trading those items which are facing shortages are trying to find new ways and techniques that can beat this disruption.

WHAT ARE ALL GLOBAL HAPPENINGS INFLUENCING GLOBAL TRADE DATA IN A NEGATIVE MANNER?

There are many factors and market ongoings that are having a negative influence on the Global Trade Data and bringing it down.

Starting with the trade war between the US and China, followed by retaliatory tariffs, sanctions, the Russia-Ukraine war, and finally political instability. These practices which are currently functional across the globe are causing the relations between the countries to become weak and as a result, Global trade is also getting affected due to this.

For instance, the war between Russia and Ukraine, which is going on for a year has caused trade to fall. Due to Russia’s continuous attacks, various nations across the globe have stopped trade with Russia and as a result, a significant fall has been observed in the Global Trade Data for the year 2022.




Another crucial factor that causes the reduction in the numbers mentioned in Global Trade is the political instability that prevails in any country and causes distress in the nation. This also promotes trade reduction and as a result, causes the Global Trade Data to fall.

Just like that, only other factors like tariffs and sanctions also pose a major threat to Global Trade and the rest of the international transactions.

GLOBAL TRADE ANALYSIS OF THE LAST 5 YEARS (2017-2021)

As per the latest Global Trade Data and other reports for the years 2017 to 2021, the past 5 years’ trend is as follows:

GLOBAL TRADE DATA (GLOBAL IMPORTS & EXPORTS)

YEAR

TOTAL IMPORTS

TOTAL EXPORTS

2017

USD 17.79 trillion

USD 17.56 trillion

2018

USD 19.66 trillion

USD 19.32 trillion

2019

USD 19.09 trillion

USD 18.74 trillion

2020

USD 17.71 trillion

USD 17.49 trillion

2021

USD 22.43 trillion

USD 22.14 trillion

 

The biggest contributing country to the Global Trade Data every year is China, followed by the United States of America, and Germany. These three countries contribute the most significant amount to the total imports and exports that are made in the world every year.

LARGEST EXPORTERS & IMPORTERS IN THE WORLD IN THE YEAR 2022

Based on the most recent Global Trade Data and Import Export Data report for the year 2022, the top 05 major exporting countries in the world were as follows:

·        China (USD 3.59 trillion)

·        The United States of America (USD 2.06 trillion)

·        Germany (USD 1.65 trillion)

·        Japan (USD 747.26 billion)

·        The Netherlands (USD 965.75 billion)

 

 

 

 

Similarly, the major importing countries in the world as per the Import Export Data for the year 2022 were:

·        The United States of America (USD 3.37 trillion)

·        China (USD 2.71 trillion)

·        Germany (USD 1.57 trillion)

·        Japan (USD 897.66 billion)

·        France (USD 809.92 billion)

SHORT UPDATE ON PHILIPPINES TRADE DATA 2021

The Philippines is also performing very well in international trade as we went through the Philippines Trade Data of the present time. As per the Philippines Import Data for the year 2021, the total imports the nation made were worth USD 124.38 billion. Electric machines, mineral fuels, machinal tools, automobiles, and plastic products were the most imported products and major import partners of the nation were China, Japan, Korea, Indonesia, and the USA.

Similarly, the total exports from the nation were worth USD 74.61 billion according to the Philippines Export Data for the year 2021. Major export items were similar to those that were exported, and the major export partners of the nation were the USA, China, Japan, Singapore, and Thailand.

CONCLUSION

Global Trade barriers as we discussed before like uneven tariffs, sanctions, war, political instability, etc. are the main causes that are bringing global trade down but the good news is that these issues are getting discussed openly now and the solution for all these problems would come soon. Moreover, the firms and industries of today’s world are working tirelessly to develop more efficient and strong digital software for integrated systems that will help to manage the supply chain and logistics easily. Let’s hope that the Global Trade Data starts to rise again at an older speed so that it can boost the Export Import Data of every nation significantly.

 

 

FREE GUIDANCE

If you want personalized analysis and guidance about import-export data or global trade data of any country, then get in touch with TradeImeX® Info Solution Private Limited. We are one of the leading import-export data services providers online in India. TradeImeX® Import-export data provider strives to deliver accurate global trade data to people of more than 70 countries. We deal in providing best-in-class advice in identifying the potential market as per the products and services and hence, help businesses to skyrocket their sales and profits and take them to the next level.

For more info –

Import Export Data

Global Trade Data

Philippines Export Data

Export Import Data

 

 

 

Comments

Post a Comment

Popular posts from this blog

SCENARIO OF GLOBAL TRADE DATA IN THE DEVELOPING COUNTRIES OF THE WORLD

Image
  Regular selling and buying of goods and services by different nations to and from the world is called Global Trade and the proper maintenance of this record is done in a well-designed database called Global Trade Data which is made under high precision and subject knowledge of the experts. It is believed that global trade is one of the main factors that are responsible for the eradication of poverty in a country as trade helps to maintain the economy of the nation and at the same time make things available to all the citizens of a particular country. Based on the targets that were set by SDG (Sustainable Development Goals), it was decided that exports from the Least Developed Countries would be encouraged to rise so as to boost their contribution to global exports in 2020. Due to the onset of the pandemic, this target is not achieved to date. UPS AND DOWNS IN THE TRADE VALUES OF LDCs (Least Developed Countries) The share of the textile industry and its exports from LDC i...
Read more

REASONS FOR MAINTAINING GLOBAL TRADE DATA – BENEFITS FOR SUPPLIERS AND BUYERS

Image
  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...
Read more

UPS AND DOWNS OF GLOBAL TRADE DATA

Image
  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 ...
Read more