import trade
TRANSCRIPT
Introduction
An import is a good brought into a jurisdiction, especially across a national border, from an external source. The party bringing in the good is called an importer . An import in the receiving country is an export from the sending country. Importation and exportation are the defining financial transactions of international trade. In international trade, the importation
and exportation of goods are limited by import quotas and mandates from the customs authority. The importing and exporting jurisdictions may impose a tariff (tax) on the goods. In addition, the importation and exportation of goods are subject to trade agreements between the importing and exporting jurisdictions
Data on international trade in goods are mostly obtained through declarations to custom services. If a country applies the general trade system, all goods entering the country are recorded as imports. If the special trade system (e.g. extra-EU trade statistics) is applied goods which are received into customs warehouses are not recorded in external trade statistics unless they subsequently go into free circulation of the importing country.
Statistical recording of trade in services is based on declarations by banks to their central banks or by surveys of the main operators. In a globalized economy where services can be rendered via electronic means (e.g. internet) the related international flows of services are difficult to identify.
Basic statistics on international trade normally do not record smuggled goods or international flows of illegal services. A small fraction of the smuggled goods and illegal services may nevertheless be included in official trade statistics through dummy shipments or dummy declarations that serve to conceal the illegal nature of the activities.
OBJECTIVES
Data Collection Primary Data:- when data is collected first time by investigator himself then it is
Primary Data. Collection of primary data is more expensive and time
consuming.• Example:- Visiting a field by own with all the required equipments and then
collecting information. Secondary Data:- The data which is collected by someone else and used by an
investigator for his own purpose of which inquiry and study is Secondary Data.
Collection of secondary data is less expensive and time saving.• Example:- Getting information of any company on internet. In this project I mostly used secondary data. I collect
information from internet
Trade is nothing but also known as Mercantilism. Twin Tower was the World Trade Center. All the import and export transactions take place there. WTO (World Trade Organization) was formed by them. There where great merchants who use to sell or import goods in large quantities. There are two policies formed by WTO.
I. Protectionism:- Protectionism is the policy formed by WTO. Protectionism is the policy of shielding a countries industries from foreign competition by taxing imports.
II. Laissez-Faire:- Laissez-Faire is the policy of not interfering in the course of things.
DEFINITION "Imports" consist of transactions in goods and services
to a resident of a jurisdiction (such as a nation) from non-residents. The exact definition of imports in national accounts includes and excludes specific "borderline" cases. A general delimitation of imports in national accounts is given below:
An import of a good occurs when there is a change of ownership from a non-resident to a resident; this does not necessarily imply that the good in question physically crosses the frontier. However, in specific cases national accounts impute changes of ownership even though in legal terms no change of ownership takes place (e.g. cross border financial leasing, cross border deliveries between affiliates of the same enterprise, goods crossing the border for significant processing to order or repair). Also smuggled goods must be included in the import measurement.
Imports of services consist of all services rendered by non-residents to residents. In national accounts any direct purchases by residents outside the economic territory of a country are recorded as imports of services; therefore all expenditure by tourists in the economic territory of another country are considered as part of the imports of services. Also international flows of illegal services must be included.
Basic trade statistics often differ in terms of definition and coverage from the requirements in the national accounts:
A special case is the intra-EU trade statistics. Since goods move freely between the member states of the EU without customs controls, statistics on trade in goods between the member states must be obtained through surveys. To reduce the statistical burden on the respondents small scale traders are excluded from the reporting obligation.
Balance of trade represents a difference in value for import and export for a country. A country has demand for an import when domestic quantity demanded exceeds domestic quantity supplied, or when the price of the good (or service) on the world market is less than the price on the domestic market.
The balance of trade, usually denoted NX, is the difference between the value of the goods (and services) a country exports and the value of the goods the country imports:
Balance Of Trade
N X = X - I Or equivalently I = X – N
X
A trade deficit occurs when imports are large relative to exports. Imports are impacted principally by a country's income and its productive resources. For example, the US imports oil from Canada even though the US has oil and Canada uses oil. However, consumers in the US are willing to pay more for the marginal barrel of oil than Canadian consumers are, because there is more oil demanded in the US than there is oil produced.
In macroeconomic theory, the value of imports I can be modeled as a function of the domestic absorption A and the real exchange rate ∂ . These are the two largest factors of imports and they both affect imports positively:
I = I ( A , ∂ )
Types Of ImportsThere are two basic types of import:I. Industrial and consumer goodsII. Intermediate goods and services Companies import goods and services
to supply to the domestic market at a cheaper price and better quality than competing goods manufactured in the domestic market. Companies import products that are not available in the local market.
There are three broad types of importers :1. Looking for any product around the world to import and sell.2. Looking for foreign sourcing to get their products at the cheapest
price.3. Using foreign sourcing as part of their global supply chain.
Direct import refers to a type of business importation involving a major retailer (e.g. Wal-Mart) and an overseas manufacturer. A retailer typically purchases products designed by local companies that can be manufactured overseas. In a direct-import program, the retailer bypasses the local supplier (colloquial middle-man) and buys the final product directly from the manufacturer, possibly saving in added cost data on the value of imports and their quantities often broken down by detailed lists of products are available in statistical collections on international trade published by the statistical services of intergovernmental organizations (e.g. UNSTAT,[6] FAOSTAT, OECD), supranational statistical institutes (e.g. Eurostat) and national statistical institutes. Industrial and consumer goods.
List Of Countries By Imports This is a list of countries by
imports, based on the World Trade Organization and The World Factbook. For comparison purposes, some non-sovereign entities are included in this list, but only sovereign territories are ranked.
More recent data from the WTO is used when available.
Rank
Country Imports Date of information
1 United States $ 2,273,000,000,000
2013 est.
2 China $ 1,950,000,000,000
2013
3 Germany $ 1,233,000,000,000
2013 est.
4 United Kingdom $ 782,500,000,000
2013 est.
5 Japan $ 766,600,000,000
2013 est.
6 France $ 659,800,000,000
2013 est.
— Hong Kong $ 520,600,000,000
2013 est.
7 South Korea $ 514,200,000,000
2013 est.
8 Netherlands $ 477,800,000,000
2013 est.
9 Canada $ 471,000,000,000
2013 est.
10 India $ 467,500,000,000
2013 est.
11 Italy $ 435,800,000,000
2013 est.
12 Spain $ 431,000,000,000
2013 est.
13 Singapore $ 373,000,000,000
2013 est.
TOP 30 IMPORTS FROM INDIARank Commodity Apr-Sep 2010 Apr-Sep 2011(P) % Growth %Share
1PETROLEUM, CRUDE & PRODUCTS
49,829.17 73,733.58 47.97 31.50
2 GOLD 17,459.40 28,639.85 64.04 12.23
3 ELECTRONIC GOODS 13,391.06 16,868.93 25.97 7.21
4MACHRY EXCPT ELEC & ELECTRONIC
11,411.93 14,873.98 30.34 6.35
5PERLS PRCUS SEMIPRCS STONES
14,920.60 14,010.02 -6.10 5.98
6COAL,COKE & BRIQUITTES ETC.
5,871.44 8,634.54 47.06 3.69
7 ORGANIC CHEMICALS 5,660.97 6,716.15 18.64 2.87
8METALIFERS ORES & METAL SCRAP
4,458.45 6,413.72 43.86 2.74
9 IRON & STEEL 5,197.44 5,136.70 -1.17 2.19
10 OTHER COMMODITIES 4,685.87 5,031.11 7.37 2.15
Rank Commodity Apr-Sep 2010 Apr-Sep 2011(P) % Growth %Share
11 VEGETABLE OILS FIXED (EDIBLE) 3,085.47 4,826.36 56.42 2.06
12 TRANSPORT EQUIPMENTS 4,862.28 4,235.21 -12.90 1.81
13 PROJECT GOODS 3,005.92 3,896.30 29.62 1.66
14 ARTFCL RESNS,PLSTC MATRLS,ETC. 3,507.80 3,558.64 1.45 1.52
15 FERTILEZERS MANUFACTURED 4,024.62 3,268.97 -18.78 1.40
16 NON-FERROUS METALS 2,028.56 2,705.08 33.35 1.16
17 SILVER 667.02 2,622.86 293.22 1.12
18 INORGANIC CHEMICALS 1,897.49 2,588.69 36.43 1.11
19 PROFSNL INST,ETC EXCPT ELCTRNC 2,192.54 2,569.60 17.20 1.10
20 ELEC MACHRY EXCPT ELECTRONIC 1,814.25 2,348.85 29.47 1.00
Rank Commodity Apr-Sep 2010 Apr-Sep 2011(P) % Growth %Share
21CHEMICAL MATRL & PRODCTS
1,515.47 1,916.44 26.46 0.82
22MANUFACTURES OF METALS
1,437.06 1,903.68 32.47 0.81
23 MACHINE TOOLS 986.03 1,504.69 52.60 0.64
24MEDICINAL & PHRMACUTICL PRODTS
1,244.54 1,361.15 9.37 0.58
25WOOD AND WOOD PRODUCTS
840.84 1,192.52 41.83 0.51
26NON-METLC MNRL MNFS EXCL PERLS
751.36 998.43 32.88 0.43
27COMP.SOFTWARE IN PHYSICAL FORM
403.71 951.03 135.57 0.41
28OTH TXT YRN,FABS,MADEUP ARTL
730.12 927.89 27.09 0.40
29 SYNTHC & RECLMD RUBBER 530.80 888.56 67.40 0.38
30 PULSES 826.43 810.55 -1.92 0.35
Problems and suggestions
Top Country Sources For US Mango ImportsBased on bill-of-landing data/shipments in kilogram
10,000,000
50,000,000
60,000,000
40,000,000
30,000,000
20,000,000
MexicoBrazil
Germany
PeruEcorse
June
July AugSep Oct NovDec Jan Feb Mar Apr May201
12012
Treat all sources
Source And References
Joshi, Rakesh Mohan, (2009) International Business, Oxford University Press, New Delhi and New York ISBN 0-19-568909-7
Sullivan, Arthur; Sheffrin, Steven M. (2003). Economics: Principles in Action. Upper Saddle River: Pearson Prentice Hall. p. 552. ISBN 0-13-063085-3.
Lequiller, F; Blades, D.: Understanding National Accounts, Paris: OECD 2006, pp. 139-143
for example, see Eurostat: European System of Accounts - ESA 1995, §§ 3.128-3.146, Office for Official Publications of the European Communities, Luxembourg, 1996
Burda, Wyplosz (2005): Macroeconomics: A European Text, Fourth Edition, Oxford University Press
"United Nations Statistics Division". Unstats.un.org. Retrieved 2013-03-25.
External Links.Glossary of Trade
TermsWorld Imports 2012 from all countries, in World Bank's
World Integrated Trade Solution