Subject Guide: International Trade
Part 1. Getting Started. Which Markets have Export Potential?
Strategy: If you have a product for export, you will want to identify countries that are new or growth markets for your product. The U.S. Commercial Service of the International Trade Administration in the National Trade Data Bank identifies markets around the world that have the best potential for U.S. exports. If you are looking for the best products to export to a particular country, the Country Trade Sourcebook is a good resource for identifying promising industry sectors in any country.
Country Trade Sourcebook
Ref HF1416.5 .C68
This annual guide designed for U.S. exporters features profiles of the trade situation in countries around the world. Each country profile identifies and describes the best industry sectors for U.S. exports and includes a list of the top 10 U.S. exports.
Industry Sector Analysis Reports
From Stat-USA – National Trade Data Bank
The U.S. Commercial Service analyzes and reports on industry sectors in various countries that have trade potential for U.S. exporters. Reports are lengthy and in depth. They measure the market for imports, list the largest importers, and provide data on the U.S. share of the import market. Key market access rules are summarized to identify barriers to entry.
International Market Insight (IMI) Reports
From Stat-USA – National Trade Data Bank
IMI Reports are very brief updates on the trade situation, the economic climate or analysis of industry sectors in countries that are U.S. trading partners. New reports are posted daily and written by trade specialists from the U.S. Commercial Service.
Export.Gov
http://www.export.gov/index.asp
Export.Gov is a Website that serves as a portal for information from the U.S. Commercial Service and 20 other government agencies that help U.S. companies export goods and services. It covers all aspects of export procedures including marketing, finance, logistics, and regulation. Some of the key resources in the portal are:
A Basic Guide to Exporting
http://www.unzco.com/basicguide/index.html
A detailed manual covering all aspects of exporting.
Search by Industry
http://www.export.gov/industry/index.asp
Market research, trade statistics, trade leads and links to industry associations for over twenty industry sectors.
Country Information
http://www.export.gov/static/doc_exp_002599.asp
Trade policy, country facts and commercial guides for countries that are U.S. trading partners.
Trade Data and Analysis
http://www.export.gov/tradedata/index.asp
Import/export trade data and industry-specific trade analysis.
Market Analysis. What Does the Market Look Like?
Doing traditional market research is part of the research process for exporters. You need to answer the question: what does the market look like in my target country? Determine market size, market trends and market participants using these government websites and business databases.
Business Monitor Online
The database Business Monitor Online provides market research reports for 14 industry sectors including chemicals, food & drink, pharmaceuticals and information technology in over 175 countries in emerging markets as well as the developed world. Each quarterly Industry Forecast Report includes five-year industry forecasts with data on production, sales, exports and imports. All the data can be exported to Excel for comparative country and market analysis.
Country Commercial Guides
From Stat USA – National Trade Data Bank
These comprehensive guides, produced by the U.S. Department of State, analyze the political and economic climate for U.S. exports in countries around the world. Each guide includes a survey of the leading market sectors of the country.
Country and Industry Market Research
From Export.Gov
http://www.export.gov/OneStopConsumer/OneStop/mrlrelogin.jsp
Register for a free password to access this database of country and industry market research from the U.S. government’s Export.Gov portal.
Euromonitor GMID
Euromonitor GMID features market research on consumer and industrial markets in countries, regions and the world. The World Reports provide a global market overview, identify the largest and fastest growing markets and examine distribution trends. The Country Sector Briefings are industry reports with lots of market data. They include 5-year sales forecasts and market share data for key companies and brands.
List of U.S. Commercial Service Offices
U. S. Trade Statistics
http://www.buyusa.gov/home/worldwide_us.html
Use this list to link to information from the U.S. Commercial Service operating out of the embassy or consulates in countries around the world. You will find information on how to do business in that country and how to find local business partners as well as market research reports and lists of trade shows.
Gathering trade statistics is essential to measure the size of the export market for your product. Trade data can also help identify top exporting/importing partners. When researching trade patterns where the United States is one of the trading partners, use trade data collected by the U.S. International Trade Commission (USITC) or the Bureau of the Census.
Export statistics are presented in trade databases using commodity classification codes. In the United States, the Harmonized Tariff Schedule (HTS) code is used. Although in most cases you can search for a product using keywords, you might need to search with the precise HTS code. See the Commodity Codes section of this guide for more detail.
USA Trade Online
http://www.usatradeonline.gov/usatrade.nsf?OpenDatabase&mc=T2500
From STAT – USA
Trade statistics from USA Trade Online are the official source of U.S. export and import statistics. They cover all products exported or imported between the U.S. and any of its trading partners and provide the most current U.S. trade data available, releasing data thirty days after it is collected. Both value and quantity of exports/imports are reported for specific products using 6- to 10-digit HTS. Pre-formatted reports are available or search for exactly the data you need by commodity, country of destination or time period. You can save data to a spread sheet, sort it, calculate percentages, or make graphs. Historical data for trend analysis is available: annual data begins with 1992; monthly data from 2002.
USITC Tariff and Trade Dataweb
http://dataweb.usitc.gov/
Provides U.S. export and import data back to 1989 at annual, quarterly or monthly intervals. Search with SIC, NAICS, 5-digit SITC, 10-digit HTS or enter a product name. Click on “List Details” for a table of imports and tariff information. (You must register to use this free database.)
Foreign Trade Statistics. U.S. Census Bureau
http://www.census.gov/foreign-trade/statistics/index.html
This website from the U.S. Census Bureau provides snapshot views of the current trade position of the United States with rankings of the top ten U.S. trading partners. Their "State Export Data" lists the top 25 export countries and the top 25 export commodities for each state. The “Country and Product Data” page includes special reports on trade in textiles and advanced technology products. Two databases provide statistics on the value of imports and exports for the latest month (with a two month lag) and year-to-date.
U.S. International Trade Statistics-NAICS
http://censtats.census.gov/naic3_6/naics3_6.shtml
Industry data is reported using 3- or 6-digit NAICS.
U.S. International Trade Statistics-SITC
http://censtats.census.gov/sitc/sitc.shtml
Industry data is reported using 1-, 2-, and 3-digit SITC.TradeStats Express
http://tse.export.gov/
TradeStats Express is a mapping tool that provides maps, graphs and tables showing global trade patterns of exports of merchandise from the United States. You can build a map of the trade flows of any product from the U.S. to its top trading partners or you can build “Product Profiles” that chart the value of trade in a specific product within a region or with individual countries.
International Trade Data
If you are researching trade outside of the United States, the United Nations compiles the most comprehensive collection of cross-country trade statistics. UN trade data is useful for measuring trade between any two countries in the world or identifying a country’s top trading partners or its principle exports.
UN Comtrade
http://comtrade.un.org/
Comtrade, the United Nations Commodity Trade Statistics database, offers the most complete database tracking cross-country movement of commodities. Annual trade data is available for commodity (at the 6-digit HS level) and trading partner for over 184 countries. For some countries historical data goes back to 1962. All values are converted to U.S. dollars at the official exchange rates. (This free Web version of UN Comtrade puts some restrictions on downloading large datasets.)
International Trade Statistics Yearbook
Newman Library Ref HF91 .U473
http://comtrade.un.org/pb/CountryPages.aspx?y=2005
United Nations commodity trade data searchable in the UN Comtrade database is also available in a two volume Yearbook and online as PDF files. In book format, Volume 1, titled “Trade by Country,” offers a way to quickly identify all of a country’s trading partners as well as the principle products that they import and export. (Commodities are identified broadly using 3- digit SITC). Volume 2, on “Commodities,” is a snapshot of commodity trade. It helps answer the question: Who are the principle exporters (importers) of XYZ commodity? Each commodity table lists imports/exports by principle countries and regions. All tables include up to five years of data for trend analysis.
International Trade Centre
http://www.intracen.org/menus/countries.htm
The ITC takes data from the United Nations and produces comprehensive country market profiles that analyze the demand for imports and the supply of exports. All reports examine industries at the 2-digit HS level. The ITC also produces Trade Simulation Reports that examine the current exports of a country to its main markets and assesses their growth potential. The International Trade Centre (ITC) is an agency of the World Trade Organization and UNCTAD.
Agricultural Trade Data
Trade in agricultural products is tracked in detail by the USDA for the United States and by the United Nations Food and Agriculture Organization (FAO) for the world.
FAOSTAT-Trade
http://faostat.fao.org/site/342/default.aspx
Tradestat
http://faostat.fao.org/site/535/default.aspx
The United Nations Food and Agriculture Organization (FAO) collects the most comprehensive data on the trade of over 600 food and agricultural commodities. Summary data and news reports are featured on the FAOSTAT-Trade website.
For customized reports or data analysis use the FAO Tradestat database. It offers detailed agricultural trade data (annually from 1961) for over 100 individual countries or any two trading partners. Users can also make maps showing agricultural trade flows of imports or exports of products from any country to its worldwide trading partners.
USDA. Foreign Agricultural Service
www.fas.usda.gov
This web portal offers official U.S. govenment statistics on international agricultural trade and research on agricultural commodities. Market reports on 18 key agriculatural sectors are found by browsing "Commodities and Producers." The FASonline database provides export and import data and the PS&Donline database reports official data on production supply and demand. Other key reports on the site are the quarterly U.S. Agricultural Trade Outlook Forecast and the Agricultural Trade Monthly Report.
Commodity Codes for Trade Statistics
Goods and services traded among countries are classified with one of two universal coding schemes: the Harmonized System (HS) or the SITC (Standard International Trade Classification). Retrieving trade statistics or determining tariff rates requires using one of these standard coding systems to identify products and industries.
Harmonized System (HS)
http://www.wcoomd.org/home_wco_topics_hsoverviewboxes_hsconvention_hsnomenclaturetable2007.htm
The Harmonized System is the most widely used trade classification system in the world. It is used by 177 countries to classify over 5,000 commodity groups, each identified with a 6-digit code. Countries, including the United States, add additional digits to identify unique products or for their own tariff needs.
SITC (Standard International Trade Classification)
http://unstats.un.org/unsd/cr/registry/regcst.asp?Cl=14&Lg=1
Ref HF 1041 .C55 1994
The SITC is the commodity classification system used by the United Nations for trade data. Countries use the 5-digit SITC to report export and import data to the United Nations. SITC classifies merchandise in approximately 3,000 commodity groups and is not as detailed as the Harmonized System (HS). SITC codes are published as the Commodity Indexes for the Standard International Trade Classification. SITC-Revision 3 is in current use.
United States Commodity Classification Systems
The United States uses a modified form of the Harmonized System (HS) as the basis for its classification of imports and exports. The U. S. adds additional digits to the 6-digit HS code to identify products unique to the U.S. markets.
Schedule B Export Codes
http://www.census.gov/foreign-trade/schedules/b
The Census Bureau developed Schedule B to classify U.S. exports. It adds 4-digits to the standard 6-digit HS codes. You can search the schedules with keywords or browse chapters showing the full coding hierarchy.
Harmonized Tariff Schedule of the U.S. (HTS)
Ref HE953 .N5C9611 2008
http://www.usitc.gov/tata/hts/index.htm
The official classification of all merchandise imported into the U.S. is published by the U.S. International Trade Commission as the Harmonized Tariff Schedule of the U.S. (HTS). Import statistics for the United States are reported using 10-digit HTS codes. Quantity data is collected only at the 10-digit, the tariff level.
HTS is available as a print directory, online in PDF format http://www.usitc.gov/tata/hts/bychapter/index.htm.The first 2-digits of the HC correspond to the PDF chapter. Notes to the chapters give detail on import quotas.
It is also available in a searchable database, the Interactive Tariff and Trade Database. To search use keywords to describe your product and then click through from any 8-digit HTS to data on imports and tariff rates for that product. The HTS code also links to imports by country and imports at 10-digit HTC level.
Commodity Translation Wizard
http://dataweb.usitc.gov/scripts/commod_select.asp
This interactive database converts 8- or 10-digit HTS into corresponding NAICS code or SITC code. It also translates NAICS or SITC to the HTS codes.
Part 2. Market Access
Trade Policy
Trade Agreements
http://www.ustr.gov/Trade_Agreements/Section_Index.html
The Office of the U.S. Trade Representative offers a comprehensive list of U.S. trade agreements: global, regional and bilateral. They include information on the Free Trade Agreements (FTA) that the U.S. has signed or is currently negotiating. FTA’s reduce tariff barriers to trade. Since 2004, the U.S. has signed FTAs with Chile, Singapore, Australia, Morocco, CAFTA-DR (El Salvador, Nicaragua, Honduras, Guatemala and the Dominican Republic) and Bahrain.
Trade Policy Reviews
http://www.wto.org/english/tratop_e/tpr_e/tp_rep_e.htm
The World Trade Organization reviews the trade policies and practices of member countries at regular intervals. For each review, two reports are prepared: a policy statement by the government and a report by the WTO Secretariat. The Secretariat’s reports provide a brief introduction to the country’s trade policies and summarize key elements of trade policy in sectors including agriculture, manufacturing, service, energy/utilities, telecom, financial services and transport.World Trade Indicators
This World Bank database contains 126 indicators of trade policy performance for 208 countries. Use it to get a snapshot of the key policy indicators for any country or to rank one country's policies against other countries. Indicators measure country performance based on policy regarding ease of doing business, overall trade restrictiveness, market access, tariff and non-tariff barriers, real growth in trade and logistics performance.
Global Trade Negotiations
http://www.cid.harvard.edu/cidtrade/index.html
The Center for International Development at Harvard University publishes brief reports on the current trade systems operating in various countries. They identify key trade issues specific to the country and examine the country’s participation in GATT, the WTO, and other multilateral trade organizations. To use this Web site choose "Governments" from the "Resources" tab at the top of the page. (Note: These reports offer a quick snapshot of trade policy but the country reports are not updated annually and may be out-of-date.)
World Regions and Trade Organizations
http://ita.doc.gov/td/industry/otea/world_regions.html
Many regional trade organizations like NAFTA and APEC promote trade and set trade policy and tariffs for their members. The International Trade Administration provides a list of regional trade organizations and their member countries with links to their websites.
Tariffs and Trade Barriers
Tariffs, sometimes called duties, are government taxes on the value of imported products. Determine the tariff rate and any import fees for your product.
Tariff and Import Fees
From Export.Gov
http://www.export.gov/static/doc_exp_001015.asp
A general guide to tariff resources and instructions for determining tariff rates for goods shipped by U.S. exporters to other countries. Includes detailed tariff and tax information for exporting to 97 countries.
Tariff Information Center
http://www.usitc.gov/tata/hts/other/dataweb/
This database provides detailed information on current U.S. tariffs for products imported into the United States. Search by product name or HTS code. Click on the “Detail” button for tariff rates and data on the value of recent imports (three years and year-to-date) into the U.S.
National Trade Estimate Report on Foreign Trade Barriers
http://www.ustr.gov/Document_Library/Reports_Publications/2006/2006_NTE_Report/Section_Index.html?ht=
This annual report from the Office of the U.S. Trade Representative outlines foreign trade barriers for U.S. exports. Each brief report examines a country's import policies, accounting, legal and other service barriers, tariffs, intellectual property protection, investment barriers, and factors such as corruption that impede trade. The U.S. trade representative will often give a quantitative estimate of the impact of these foreign practices on the value of U.S. exports is reported when available.
World Tariff Profiles
http://onlinebookshop.wto.org/shop/article_details.asp?Id_Article=728&lang=EN
This is an online version of a joint World Trade Organization, International Trade Centre (ITC) and UNCTAD handbook of tariff profiles for 150 WTO member countries. Profiles describe the trade preferences in place in the top six export markets of each country.
Comprehensive data on the tariffs governments charge on imports (reported in Excel spreadsheets using 6-digit HS codes) can be accessed from the member countries pages:
World Trade Organization. List of Members
http://www.wto.org/english/thewto_e/whatis_e/tif_e/org6_e.htm
This is the best place to find cross-country or cross-sector comparison data on tariffs. From any country page, simply link to “Goods Schedules and Tariff Data.”Eurostat Trade Barriers Database
http://mkaccdb.eu.int/madb_barriers/barriers_select.htm
For member countries of the European Union, Eurostat provides surveys of country trade policies that focus on tariffs and duties, defensive instruments like anti-dumping regulations, and a wide range of non-tariff and investment-related trade barriers.
Export and Import Regulations
Many exporters hire a customs broker who understands local regulations to take care of the details of exporting/importing goods to a foreign country but general information on a country’s customs and import regulations can be found in the guides listed here.
D&B Exporters’ Encyclopedia
Ref HF3011 .E9
D&B’s annual directory and guide to trade regulations includes coverage of credit conditions, exchange regulations, customs tariffs, and shipping. It covers marketing procedure including rules on government procurement, foreign investment, product standards, packaging and labeling, advertising and intellectual property. It also describes shipping, warehousing and other transportation requirements. All chapters include a list of key contacts and websites of government agencies and business associations.
Trade Information Center Country Database
From Export.Gov
Click Here
Provides information about customs and import regulations, licensing and product standards for countries that are U.S. trading partners.
U.S. Customs and Border Protection
http://www.customs.ustreas.gov/xp/cgov/import/
U.S. customs provides information on U.S. export/import regulations including documentation and licenses. To get started read their “Tips for New Importers and Exporters” http://www.customs.ustreas.gov/xp/cgov/import/communications_to_trade/diduknow.xml
Country Trade Sourcebook
Ref HF1416.5 .C68
This annual guide designed for U.S. exporters features profiles of the trade situation in countries of the world. Key business associations and government agencies are listed. Foreign trade zones...
International Logistics
From Export.Gov
http://www.export.gov/logistics/index.asp
Information about how to find a freight forwarder and the common documents needed for exporting.
Business and Finance
If your export strategy involves operating a business or establishing an alliance or partnership in a foreign country, knowledge of the local business environment is necessary.
Country Commerce
From Factiva
These guides to operating a business or entering into an alliance or merger in foreign countries cover business regulations in 60 countries and include information on licensing and trading regulations, foreign tax rates, rules on foreign investment, and competition codes. Published by The Economist Intelligence Unit (EIU).
Country Finance
From Factiva
In these reports the Economist Intelligence Unit (EIU) explains financing techniques and financial instruments used by countries around the world. These can include long and short term debt, swaps, hedging, cash management and trade finance. They also examine aspects of the financial system from banks to foreign exchange operations.
Country Commercial Guides
From Stat USA – National Trade Data Bank
These comprehensive guides, produced by the U.S. Department of State, analyze the political and economic climate for U.S. exports in countries around the world. Each guide reviews trade regulations, distribution channels, taxes, licensing and finance.
Doing Business
http://rru.worldbank.org/doingbusiness/
Newman Library K3840 .D64
This annual report from the World Bank provides a snapshot of the business environment in 130 countries. Focusing on how regulation promotes or restrains business activity, it rates each country on the ease or difficulty of hiring and firing of workers, starting a business, getting credit, enforcing contracts, registering property and other aspects of doing business.
Global Competitiveness Report
http://www.weforum.org/en/initiatives/gcp/Global%20Competitiveness%20Report/index.htm
This annual report from the World Economic Forum surveys the competitive landscape of countries around the world and it rates all countries with a Global Competitiveness Index and a Business Competitiveness Index. It also identifies and measures the most problematic factors for doing business in each country.
Risk
Long and short term political, economic and financial risk factors should be identified before establishing international trade operations in a foreign country.
Business Monitor Online
Business Monitor’s Country Risk reports provide monthly analysis of the political, economic and business risk in 80 countries. Several kinds of risk reports are available. Risk Ratings for politics and the economy cover both the long and short term. Business environment risk is a measure of the investment climate measured by finance, competitiveness, openness and the environment. The BMI View is a risk summary given in the form of a SWOT analysis.Economist Intelligence Unit. RiskWire
From Factiva
RiskWire's daily news bulletins report on ten areas of risk analysis for global business: security, political stability, government effectiveness, legal and regulatory, macroeconomics, foreign trade & payments, tax policy, labor markets, financial and infrastructure. thye rate each of these areas in the monthly "Risk Overviews."
Institutional Investor. Country Credit Ratings
Periodical Shelves, 3rd floor
Institutional Investor magazine publishes Country Credit Ratings twice a year in its March and September issues. Sovereign risk analysts rate 172 countries on their credit quality based on political and economic factors and the chance of default.
PRS Group. International Country Risk Guide
PRS Group. Political Risk Service
From LexisNexis
The PRS Risk Service provides in-depth analysis and forecasts of the political and economic conditions in 85 countries. The International Country Risk Guides rate risk in over 130 countries. In addition to the composite risk rating, rating are given for political, financial and economic risk. Each report includes a list of “Items to Watch for” and a one-year business forecast.
To search these publications begin at the Sources tab and choose “Country and Region Reports.” Select either title by putting a check mark in the box and then click on the “OK-Continue” button to proceed to the Search screen. Type in your search like this: Country(Sudan) and Date=2006.
News
Bring your examination of trade issues up-to-date by using business databases to find analysis, commentary, research, and the latest economic and trade news.
ABI Inform/Global
The ABI Inform database provides a combination of citations, abstracts and full text articles from over 1800 business periodicals, including many scholarly research journals. International journals are well represented.
Business Source Premier
This database offers full text access to nearly 2,280 business journals covering management, economics, finance, accounting, and international business. It features the entire series of many journals including the Harvard Business Review. Its Country Economic Data includes such publications as the Political Risk Yearbook, Business Monitor Quarterly Forecasts, and the EIU Country Profiles.
Factiva
Factiva, one of the most comprehensive business news databases, features news from the Dow Jones and Reuters wire services, the Wall Street Journal, Barrons and more than 9,000 other sources of worldwide business news. To search for trade news use terms like "economic performance" or "trade figures" from the Subject Lookup menu.
ISI Emerging Markets
ISI Emerging Markets is a country-focused news database covering 35 emerging market countries. News is presented in English and native languages. The news is supplemented with an extensive collection of financial markets data and economic data from central banks, government agencies, rating agencies, bank analysts and independent consulting firms.
Source OECD Statistics
Source OECD is a Web portal for all the statistics collected by the OECD. It includes statistics from more than 25 OECD databases covering national accounts, labor, prices, international trade, industry and services, agriculture and finance. It also contains statistical tables selected from books and periodicals published by the OECD.
Local Assistance
U.S. Export Assistance Center of New York City
http://www.buyusa.gov/nyc/
International trade specialists in this office provide assistance to local small and medium sized businesses and publicity for local trade events. They also offer unpaid internships for undergraduate and graduate students interested in international business careers.
SmallBiz.NYPL.org
http://www.nypl.org/research/sibl/smallbiz/sbrc/Pages/index.cfm
This virtual resource center for New York City’s small business community is provided by the New York Public Library. In addition to resource guides and a Services Directory, the website includes lists of events of interest to the small business owner, videos of small business seminars and open forums for discussion of business topics. International Trade is covered in one chapter of their Business Owner’s Manual.
By Prof. Louise Klusek
Newman Library, Baruch College
March 17, 2008
