What are trade statistics?
Every time a plane, train or truck ships a merchandise good across a border, it gets counted, by value and quantity. Individual shipments are recorded on bills of lading, and governments publish their trade statistics on a monthly basis. The trade statistics published by TDM are an aggregation of all those shipments grouped by commodity code and official government description (and not a list of specific bills of lading with company or brand names), organized according to the World Customs Organization’s Harmonized Standard (HS) codes.
What is the Harmonized Standard (HS) code system?
Implemented in 1988 by the World Customs Organization, the HS code system categorizes every physical good that’s traded, from grain and beef to toys and furniture. It’s how customs agencies, government, and Trade Data Monitor count trade. The first two digits describe the widest category. And additional digits offer more definition. For example, 04 is dairy; 0406 is cheese and 040620 is grated or powdered cheese
How does Trade Data Monitor get its data?
Trade Data Monitor sources trade data from government offices and agencies of over 110 countries. TDM has a history of developing networks and procuring data all over the world, even in difficult places. We know exactly where to go to find every piece of data we need. We also own the world’s most comprehensive database of historical data, which can be used to build valuable models.
What if a country doesn’t publish trade data?
If a country doesn’t publish available trade statistics, TDM counts that country’s imports and exports thanks to its database of over 110 reporting countries, which account for all but a fraction of the world’s total trade. Thanks to its database,
TDM can reverse engineer trade statistics by deriving any country’s exports and imports from data provided by its trading partners.
How do clients use Trade Data Monitor?
In all kinds of ways and it depends on the client. Here are some examples.
- Governments use TDM to monitor imports and help their companies find export markets, set economic policy, and fight unfair trade.
- International organizations use TDM to study the global economy and help governments negotiate trade treaties and set policy.
- Financial institutions use TDM to analyze economies and companies, and identify opportune investments.
- Multinational corporations use TDM to identify fast-growing export markets, study their competitors and guard against dumping.
- Academics use TDM to study specific sectors and the evolution of the global economy in this age of hyperglobalization.
- Law firms use TDM for filing and fighting antidumping cases to the U.S. Dept. of Commerce.
What is your competitive advantage? What makes TDM different?
- TDM has a growing list of 110+ reporting countries. Our country coverage includes unique countries and we continue to add countries every year.
- TDM updates monthly trade data and applies revisions every day, multiple times a day. We are up-to-date with the most recent revisions and keep track of these changes.
- Our customer support is unsurpassed with trade data experts’ direct contact information given to each customer. The TDM representatives are there to answer your questions from how to work the TDM database to the trade data methodology to IT support. All customer support is given through a direct line via email or phone.
- Our system and services are custom-tailored to each individual client’s needs. Customers can customize their reporting countries and HS Code needs, as well as, account defaults and method of data delivery.
- Client Feedback: We work with clients to understand their needs to help update our TDM database.