When you want to import and / or export, you need to obtain basic export / import data in the countries or regions, and the sectors or product families of your interest. This data will allow you to identify and learn about potential competitors, import / export volumes, market dynamics, etc.
The important question is:
Where can I get this information quickly and at the lowest cost?
Here are some tips and recommendations for data sources where you can get information about it:
- Foreign trade promoters of each country. These promoters usually have access to international databases, already curated, and can even provide you with detailed reports. We recommend that you check with the respective promoter in your country.
- There are some databases compiled, managed and refined by global institutions. Such as the World Bank databases – which offer: Trade statistics by Country / Region – WITS TradeStat Database is designed to provide the latest international merchandise and commercial services trade data and overview of a country and region’s imports and exports, tariff and non-tariff measures. View international trade statistics by country or region to obtain the following (i) country or region’s overall exports, imports and tariffs (i) details of exports and imports with various partner countries along with partner share, Most Favored Nation (MFN) and the imposed Effective Applied Tariff (AHS). (iii) details on various products exported and imported globally and with individual partner countries (iv) trade indicators like the number of export and import partners, the Herfindahl Hirschman Index, the Index Of Export Market Penetration, the Revealed Comparative Advantage (RCA) and much more. Finally, (iv ) relevant indicators from the World Development Indicators (WDI) like GDP, GDP per Capita, Trade as a percentage of GDP, Service Exports and Imports, taxes on exports and more. Read more at: https://wits.worldbank.org/countrystats.aspx?lang=es
- There are also other sources of data accessible by anyone, at the web level, such as the Trade Map – which offers trade statistics for international business development – Monthly, quarterly and yearly trade data. Import & export values, volumes, growth rates, market shares, etc. Read more at: https://www.trademap.org/
- Another alternative is to become a member of import – export groups on social networks, these bring together people in specific markets that interest you, and they seek to interact with people who provide initial basic information or data sources.
- Embassies can also be a good way to identify agencies, institutions or organizations that allow you to get information quickly and at the lowest cost.
The main thing in the early stages is to get consolidated, refined information sources that allow you to measure the impact and potential of the business, quickly and at the lowest cost. In fact, it is not recommended to contact any paid service without first exploring these free and official alternatives.