7 Things You Should Consider Before Buying Trade Data?

While trade data is a valuable commodity, finding the best data provider at the best price can prove difficult. Many providers collect and publish raw data without categorizing the information into a digestible, searchable form, while some services feature restrictions, such as download limits, that deflate their value for users. Therefore, before buying trade data, consider the following factors:

- Quality of the data provided
- Restrictions placed on their services
- Technological investment of the data provider
- Price range relative to the services provided

Quality data providers offer complete, timely information that is cleansed, standardized and coded. They also increase the usability of the data by supplying value-added fields, such as TEU, HS, and SCAC Codes.

Data providers that invest in technology are more likely to avoid inaccurate information. Often, these companies offer increased or unrestricted download limits and improved user interfaces that enable keyword searching. They also typically support a larger number of file formats, including CSV, Excel, and PDF.  Read more

TRADE SOLUTIONS – HOW AN ONLINE TRADE SOLUTIONS EXPERT CAN HELP YOU

As your company grows, no matter what stage of its development it may be in, there will likely come a time when you end up engaging in trade with various companies situated around the country and around the world. But while this can open up a wide range of possible benefits for your company, such as an improve supply line for a component of your products or a reliable place to export your goods, it also provides plenty of unique challenges. It's a complex aspect of international business, and one that you should trust a trade solutions expert to help you with.

There are plenty of different ways that a trade data solutions company can help you get the most from your international trading affairs. For starters, locating a dependable supplier is a key part of any business strategy. Not only do you need to find the best price, but you also need to find a source that is trusted when it comes to the goods or products you need. There are thousands of companies around the world that export all types of goods, and an international trade data expert will be able to help you find the best possible supplier for all of your needs.

 You can also use a trade data solutions expert to develop your strategy more fully, helping you stay ahead of the competition. With the right partner you'll be able to figure out just who is importing or exporting what and just how much shipping they may be doing. You'll be able to receive detailed reports on things like import volume, length of time a company has been shipping to the US, the volume of trade specific to your industry, and much more. In other words, if it has to do with international trade, you'll find out just what you need every time.

To put it simply, an expert in trade solutions will help boost your bottom line and save you a huge amount of time and energy in the process. Instead of having to scramble to find the best supplier for a product or comb through thousands of documents to try and determine just who is shipping what and where they're getting it from, you can run a simple search through the international trading expert's database and get the data in real time. When your company needs overseas shipping, you can't afford not to trust an expert.

Trade Mining provides Customs trade intelligence solutions that helps businesses engage more effectively in global trade, support decisions, and reach objectives. To learn more about us please visit www.CustomsTradeData.com

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This Week: Spotlight on Peru

TradeMining, LLC

 Country Profile : PERU

Peru's rich and varied heritage includes the ancient Incan capital of Cuzco and the lost city of Machu Picchu. The country boasts spectacular scenery, including Lake Titicaca, the world's highest navigable lake.

 The Peruvian economy has been growing by an average of 6% per year since 2001 with a stable exchange rate and low inflation. Growth in 2010 was above 8% and in 2011 above 6%, due partly to a leap in private investment, especially in the extractive sector, which accounts for more than 60% of Peru's total exports.

• Population: 29.4 million (UN 2011)    

• Capital: Lime 

• Monetary unit: 1 nuevo sol = 100 centimos         

• Nuevo sol (PEN) per US dollar 2.75 (2011 est.)

• GDP Per Capita: USD$10, 000 ( est. 2011)

• International dialing code: +51

• Labor Force by Occupation: Agriculture 0.7%, Industry 23.8 %,  services 75.5% (2005)

Imports: Petroleum and petroleum products, chemicals, plastics, machinery, vehicles, color TV sets, power shovels, front-end loaders, telephones and telecommunication equipment, iron and steel, wheat, corn, soybean products, paper, cotton, vaccines and medicines

Import Partners: US 24.7%, China 13%, Brazil 7.4%, Ecuador 4.7%, Chile 4.3%, Colombia 4.2% (2010)

Main exports: Fish & fish products, copper, zinc, gold, crude petroleum & by-products, lead, coffee, sugar, cotton.                 

U.S.-Peru Trade: The United States and Peru signed the United States-Peru Trade Promotion Agreement (PTPA) on April 12, 2006. On December 14, 2007, the U.S.-Peru Trade Promotion Agreement Implementation Act became law, and the PTPA entered into force on February 1, 2009.

Peru is currently our 42nd largest goods trading partner with $11.8 billion in total (two way) goods trade during 2010. Goods exports totaled $6.7 billion; Goods imports totaled $5.1 billion. The U.S. goods trade surplus with Peru was $1.7 billion in 2010.

Find New Business Opportunities in Peru with Trade Mining 

• Learn important details about their markets (movement of goods, top players, etc)

• Identify if there is demand for your products

• Analyze prospective clients (volume of imports, types of commodity they trade, current suppliers etc.)

To get a no obligation sample report go to  www.CustomsTradeData.com 

 

 References: BBC News, Central Intelligence Agency, World Trade Organization, US. Trade Representative

 
 

Latin America Expected to Grow to $4.8 Trillion by 2015

Did you know?

•  Central and South America are home to 440 million people.  In 2010, it had a GDP of $3.6 trillion, projected to rise to $4.8 trillion by 2015. The region’s economy grew by around 6 percent in 2010, and is expected to grow 4 percent in 2011.

•  Exports to Central and South America are estimated to be $161 billion in 2010, supporting almost 900,000 U.S. jobs.

• 80 percent of U.S. consumer and industrial goods exports to the CAFTA-DR region and Peru are no longer subject to tariffs.

• The U.S. has an approximately 43% market share in the Dominican Republic, with approximately 70% of consumer goods imported into the Dominican republic coming from the United States.

•  U.S. exports to Chile – primarily manufacturing – were projected at $13 billion in 2009 

• U.S. Exports to Peru have Doubled Since Passage of the US-Peru FTA reaching over 6 billion in  purchases in 2010 alone.  

• USDA products exports to Peru reached an all time high of $760 million in 2010.

Trade Mining can help you grow your business in Latin America by:

• Giving you access to who is buying  and who is supplying

• Frequency of purchases 

• Providing insights on transactional trends

• Pinpointing the carriers that specialize in moving freight to  your target country

To request a no obligation sample of our Latin data send an email to: Get Latin Data or call 954-374-9049 for a faster response. 

Sources: The White House, U.S. Department of State, Export.gov