Global trade data

  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...

  OVERVIEW OF INDIAN INDUSTRY AND SECTORIAL GROWTH India is one of those developing nations in the world whose most of the factories and industrial units are run manually or under the assistance of some professional workers. Due to the stagnation of the economy of the world, the sectors which demand high manpower in India are suffering hard. As the Global Trade Data shows a decline in the world, the responsibility to balance this is going to be taken by some of the advanced economies of the world like the United States and majorly the European countries. Based on the Export Import Data of India, the United States and the EU nations are India’s biggest export partners. If the economies of these two nations would also sink, then India has to suffer losses in its exports. India exports textiles, footwear, and leather items to these nations in abundance. India will never be in the favor of declining economy of the United States or any country from the EU group. WORLD IS GOING...

Whenever you visit a big hypermarket, a luxury watch store, or a luxury car showroom, the salesperson would show you a variety of products by mentioning the country from where they originated. Have you ever wondered how this is possible that being in a certain country say, the United States, you can purchase goods made in India, or China, or Italy? The simple answer to this is that your country is into Global Trade with various nations and trade with numerous countries to make that thing available to you. Every country maintains Global Trade Data to record every transaction it made or received to and from another country. In simplest terms, Global Trade is a sort of exchange practice wherein labor and products are exchanged between various nations and mainland’s. Be it buyer merchandise, eatables, or apparatus, everything is exchanged in the global market. Likewise, to keep up with the records of every exchange that occurred in a year, each nation will undoubtedly make Global Trade ...

  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 ...