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Exports of goods from one country to another involve
the participation of customs authorities of both the
countries. It also includes those countries through which
the goods pass through. Exporting goods and services to
other countries is a key part of a country¶s economic
development, focusing either on raw materials, finished
goods or services based on available resources. Export
trade helps to create more jobs and boost a country¶s
economic growth.

Export Trade Dynamics. a firm exporting goods and

services to other countries requires an exports license
from the country¶s licensing authority. In the US, Exports
administration Regulations (EaR) controls the export of
goods. The goods or services to be exported are
categorized into various sections across the countries,
and the exporter needs to select the appropriate category
for the item to be exported.Exports across the globe are
regulated. However, each country may follow different
regulations. Exports are typically restricted to countries
that are suspected of supporting or participating in
terrorist activities. Some products have a global exports
restriction.Export trade uses air and water routes to ship
the exported goods. Due to the growing popularity of the
Internet, finding information relating to exports has
become easier.
Export Trade: major players:In 2008, the World Trade
Organization (WTO) indicated that Germany is the world¶s largest
exporter, followed by China and the US. Germany¶s world class
engineering sector comprises small and medium enterprises that
operate throughout the world. about 40% of the country¶s GDP
comes from exports alone. Germany¶s contribution to total global
exports amounts to about 9.5%. One-fourth of the world¶s total
global exports are provided by the top three exporting countries.
The top 10 exporting nations are:

Ê Germany
Ê China
Ê US
Ê rapan
Ê ‰rance
Ê  etherlands
Ê Italy
Ê UK
Ê ·elgium
Ê Canada

Trade in USA. positioned the country as the world¶s largest

economy, where businesses are free to make market
decisions. Trading in international markets is part of its µcapitalist
economy¶ outlook.Trade in the US is regulated by the Office of the
United States Trade Representative. This body recommends trade
policies to the US President. It conducts trade negotiations at
both bilateral and multilateral levels.

The US Trade: Market Share.The United States is the

world¶s biggest consumer. It is also one of the world¶s top three
exporters. a 2009 survey conducted by the US Census ·ureau
and the US ·ureau of Economic analysis states that the country¶s
sum total of imported merchandise in ‰ebruary 2009 amounted to
$152.7 billion. Its exported merchandise reached $126.8 billion.
This gap has shocked the country and sent out signals of alarm as
its trade deficit stood at $26.0 billion. However, trade deficit in
the month of ‰ebruary is less compared to that of ranuary.
 The US Trade: Exports.In 2008, US trade exports are:
Ê Industrial supplies, including electrical machinery, transport
equipments and power generating machinery (29.8%)
Ê  on-auto consumer goods like organic chemicals (12.4%)
Ê åotor vehicles and their parts (9.3%)
Ê ‰ood and beverages (8.3%)
Ê aircraft and parts (6.6%)

The country¶s leading export partners in 2008 are:

Ê Canada
Ê åexico
Ê China
Ê Germany
Ê The UK

US Trade: Imports.
Ê Spanning several decades, the US has been the world¶s leading
importer of goods and services. Its major imports are:
Ê export road vehicles
Ê petroleum
Ê petroleum products
Ê apparels
Ê clothing accessories
Ê non metallic minerals.

In 2008, the top five countries from which the US imports are
listed in order of their ranking as on 2008 are:

Ê China
Ê Canada
Ê åexico
Ê rapan
Ê Germany
Some key import-related facts are:

Ê all commodities entering the US must clear customs. They are

liable to pay customs duty unless exempted by law.
Ê The process of customs clearance can be accelerated by the
automated Commercial System (aCS), through which the entry
of cargo and disposition documentation are processed
electronically.

The country¶s trade deficit surged by 5.5% to reach above $27

billion in åarch 2009 as global recession seemed to tighten the
main trading partners of the US in Europe,  orth america and
asia.rapan¶s trade has been dominated by the high-yielding
manufacturing industry. While the government has been trying
to push exports, the country¶s trade still comprises of huge
imports.

European trade is a complex but efficient system,

involving 50 European countries in total, with 27 nations in the
European Union (EU). ‰ormed in 1993, the EU works on the same
trade objectives as that of the European Economic Community
(EEC). It has developed a µsingle market¶ and µcustoms union¶
among its member states.

European Trade: Significance of EU:Trade in the EU is

characterized by free movement of goods, services and people.
The freedom of capital flow facilitates uninhibited investment in
the real estate and stock markets. all EU member countries follow
the same trade policies for all sectors, including agriculture and
fisheries. These two sectors account for a significant portion of
exports. Trade in the EU has become simpler with the adoption of
the common currency known as the Euro by 16 member states.
·enefits of using the Euro are:

Ê Creates a single market

Ê åaintains price stability in member states
Ê åinimizes exchange rate problems
Ê Simplifies travel for European citizens
 Ê Insulates the µeurozone¶ from external economic shocks by
boosting internal trade

Trade with Europe: Exports

an EU state does not levy taxes for exports to other

member states. according to the Eurostat data for
ranuary 2009, the largest exporters among the EU
countries are ‰rance, Germany and
 etherlands.Taxes may, however, be levied on goods
exported outside the EU. The global recession in 2007-
2008 led to a sharp decline in its trade volumes.

Some truly critical exports that the European countries

continued with are:

Ê åachinery: all of Europe.

Ê automobiles: The UK, ‰rance, Germany, Spain and
Italy.
Ê aircraft: ‰rance and Germany.
Ê Electronics: The  etherlands, Germany and Italy.
Ê åilitary equipment: The UK, Germany, ‰rance, Italy.
Ê ‰ood products such as wine, pastas, cheese, chocolates,
beer and agricultural products: This spans both Western
and  orthern Europe.

Some of the critical ports in the EU are Southampton,

antwerp and Hamburg.

European Trade: Global Share

The International åonetary ‰und (Iå‰) indicates that the

EU accounts for 31% of the global economic output. The
combined GDP of the EU nations exceed the GDP of the
US. The EU is the largest exporter and second largest
importer in the world.

With its strong presence in the world economy, the EU

assumes a highly strategic role in devising foreign
policies in the WTO, Group of Eight (G-8) summits and
the United  ation (U ).

Imports, Import Trade, Importing Goods and

Services: Ê

˜
Êare goods that are legally shipped from one country to

another. Import trade involves customs authorities from both the
countries. along with exports, importing goods and services
forms the foundation of international trade.

Import Trade: Dynamics:To import its goods from a foreign

country, every firm needs to obtain an import permit or license to
receive its goods. In compliance with the WTO agreement, the
issuance of an import license is preceded by an application. This
application is submitted to the appropriate administrative body as
a prerequisite condition for importÊ
.·efore the goods
(especially edibles) are actually imported, they have to undergo a
quality test. Certain goods which may endanger a country¶s
health or safety will not be permitted into the country legally.
These may include seemingly harmless products like meat, pets
and textiles to more dangerous ones such as firearms.Goods can
be imported only after the customs clearance.

Ê
 ˜
Ê Ê
ʘ
Ê
The WTO published a report in 2008 listing the major importing
nations:

Ê The United States imports $2.17 trillion worth of goods

Ê Germany imports $1.21 trillion worth of goods
Ê China imports $1.13 trillion worth of goods
Ê rapan imports $762 billion worth of goods

Ê ‰rance imports $708 billion worth of goods

Ê ·ritain imports $632 billion worth of goods
Ê  etherlands imports $574 billion worth of goods
Ê Italy imports $556 billion worth of goods
Ê ·elgium imports $470 billion worth of goods
Ê South Korea imports $435 billion worth of goods.

India Trade, Trade with India, Trade in India,

Indian Trade:
Trade and commerce have been the backbone of the Indian
economy right from ancient times. Textiles and spices were the
first products to be exported by India. The Indian trade scenario
evolved gradually after the country¶s independence in 1947. ‰rom
the 1950s to the late 1980s, the country followed socialist
policies, resulting in protectionism and heavy regulations on
foreign companies conductingÊ
 ˜ . India¶s
international tradeÊsituation improved when Prime åinister Rajiv
Gandhi reformed the trade policies in the late 1980s. With tax
reforms, deregulations and privatization initiatives, India has
attracted the global market¶s attention.

India Trade: Market Share

a significant boost to India¶s trade in the late twentieth century
resulted in the country getting the tag of an ³emerging
economy.´ according to a report published by the
 WorldÊ
ÊOrganization (WTO) in åay 2007, India¶s share in the
global market for merchandise and services rose from 1.1% in
2004 to 1.5% in 2006.according to leading management
consultancy åcKinsey & Co, the growth of India¶s economy can
match that of China (about 10% per annum) if the former
eliminates the main impediments to trade.

India Trade: Imports India¶s major imports comprise

ofÊcrude oil, machinery, military products, fertilizers, chemicals,
gems, antiques and artworks. Imported goods are divided into
the following categories:

Ê ‰reely importable items: ‰or these items, no import license is

required. They can be freely imported by an individual or a firm.
Ê ùicensed imports: These imports comprise of precious and semi-
precious stones, firearms, pharmaceuticals, insecticides, and
plants and animals.
Ê Canalized items: These items can only be imported by public
sector firms. ‰or example petroleum products fall under this
category.
Ê Prohibited items: Items such as unprocessed ivory, animal
rennet and tallow fat cannot be exported to India.

Œhina Trade, Trade with Œhina, Trade in Œhina,

Œhinese Trade
according to an economic survey published by the Organization
for Economic Cooperation and Development (OECD) in 2005,
Chinese exports grew at an average rate of 6% since the mid-
1980s. although China¶s export growth was affected by a global
slowdown, the country overtook the US to become the world¶s
second largest exporter by end-2007. The OECD had predicted
that China would become the world¶s largest exporter by 2010.
 Œhina Trade: Œontribution to the Economy
In the nineteenth century, the contribution of China to
theÊ Ê
 was negligible, despite the country¶s abundant
resources. In the 1970s, the Chinese government started
reforming its economic policies and adopted market socialism.
This led to an upsurge in the growth of the country¶s private
sector, resulting in China becoming a major player in the
international market. The impact of the liberalization
ofʌ Ê
and economic policies is exhibited in the following
statistics:

Ê åeasured using Purchasing Power Parity (PPP), China¶s GDP

reached $7.8 trillion in 2008, making it the third largest
economy after US and rapan.
Ê China is a strong emerging economy, with 11.4% GDP
growth in 2007 and 9% in 2008.
Ê The country¶s global trade surged past $2.4 trillion in 2008.

Œhina Trade: Imports

The top five imports from China and their value in 2006:

Ê Electrical machinery - $174.8 billion

Ê Petroleum and related products - $84.1 billion
Ê Professional and scientific instruments - $48.6 billion
Ê åetalliferous ores and scrap - $44.0 billion
Ê Office machines and data processing equipment - $40.7 billion

Other facts pertaining to Chinese imports are:

Ê Import of chemicals used for making weapons is restricted.
Importers require a license for ozone depleting materials and
toxic drugs.
Ê automatic import licensing is offered for poultry, wine, copper,
oils and fertilizers.