An In-Depth Understanding of Customs Data: A Resource for Newcomers in Foreign Trade

For newbies in the foreign trade industry, understanding customs data is like finding a treasure map in the vast ocean of international trade. But what exactly is customs data? Let's break it down in simple terms.

What Customs Data Covers

Customs data is generated when countries' customs authorities perform their functions in import and export trade statistics. It contains a wealth of information that can be divided into three main categories: goods information, transaction information, and enterprise information.

Goods Information

This includes details about all kinds of imported and exported goods, ranging from raw materials to finished products. You can find information such as the name of the product, its HS code (a standardized international system for classifying traded products), specifications, models, uses, origin, weight, and quantity. For example, if you're in the electronics business, you can know exactly what types of smartphones, tablets, or laptops are being imported or exported, along with their specific features and quantities.

Transaction Information

Transaction - related details are also an important part of customs data. It includes the date of the import or export transaction, the trading method (such as FOB, CIF, etc.), the trading countries and ports involved, the mode of transportation (sea, air, land), as well as the price of the goods and the taxes and fees paid. This information can help new foreign trade players understand the cost structure and market price trends of different products in international trade.

Enterprise Information

Enterprise information in customs data provides valuable insights into the companies involved in import and export activities. You can find the names, addresses, contact information, customs codes, and unified social credit codes of import and export enterprises. This allows newbies to identify potential business partners, understand their scale and reputation, and even initiate contact with them.

Sources of Customs Data

The main sources of customs data include customs declarations, import and export records, customs supervision data, tariff data, trade partner data, goods description data, transportation data, and payment method data. All these data are collected and organized by customs authorities to form a comprehensive picture of international trade.

The Value of Customs Data for New Foreign Trade Players

Customs data is an important information resource in foreign trade activities, especially for newbies. Here are some of its key values:

Understanding the Market

By analyzing customs data, new foreign trade players can gain a clear understanding of the supply and demand situation in different markets. They can know which products are in high demand in which countries, what the market trends are, and how the market size is changing over time. For example, if the customs data shows a continuous increase in the import volume of organic food in a certain country, it indicates a growing market demand for such products.

Analyzing Competitors

Customs data also helps in analyzing competitors. Newbies can find out which companies are their main competitors in the international market, what products they are exporting or importing, their market share, and their pricing strategies. This information can be used to develop competitive marketing and sales strategies.

Developing Customers

With the enterprise information in customs data, new foreign trade players can identify potential customers. They can target companies that have a history of importing relevant products and reach out to them with tailored marketing messages. For instance, if a newbie is in the textile business, they can find companies that have been importing textiles from other countries and try to establish business relationships with them.

In conclusion, customs data is a powerful tool for new foreign trade players. It provides a wealth of information that can help them make informed decisions, understand the market, analyze competitors, and develop customers. If you're a newbie in the foreign trade industry, don't miss out on the opportunity to leverage this valuable resource.