Indian Customs Data
Export is the international trade of goods and services that is produced in one country and sold to another country. Exports play a vital role in India’s economy influencing growth, generate employment, and improve foreign exchange reserves. The export of goods and services is 19.74% of the GDP.
The export of goods can improve the profitability of firms; can open new markets to sell their products. Exports can improve the competitiveness of businesses and improve product quality and value to the product.
India custom export data is collected from different custom data at ports in different parts of the country. The data contains information present in the shipping manifest or bill of lading submitted to the customs department.
India custom export data contains product information (description and HS Codes), the unit qty and total quantity of the shipment, valuation of the shipment, name and country of origin of the exporter and importer, the port of origin and destination ports, and the date of the shipment.
India export data shows that India exported 322.8 billion USD of goods in 2019. The data showed that exports fell sharply in May 2020 to 19.05 billion USD. The total exports dropped to 60.3% YOY in April 2020. India export data is collected monthly shows that maximum exports were recorded in April 2008 and the lowest exports were in April 2020.
India’s top exporting partners are:-
47.8% of India’s exports were to other countries in Asia, 19.3% of exports were to Europe. India exported 18.8% worth of merchandise to North America. A smaller percentage of exports went to Africa, South America, and Oceania.
The major products exported from India are:-
The data shows the top 10 exports accounted for 60.2% of the global shipment. Exports of Gems and precious metal fell mainly due to the international sale of diamonds. The export of vehicles fell by 6%. Sectors in the top 10 products that registered an increase in exports were the electrical machinery and equipment and pharmaceutical sector.
India custom export data contains vital information to help exporters make their business plans. The data helps exporters analyze market trends and predict changing customer preferences. The data allows them to price their goods competitively. It allows them to find new markets to sell their products. The database allows them to locate new importers who may purchase their products. The database can help them to identify new products that they can export.
India custom data is used by logistic providers and bankers to look for new customers. Bankers provide letters of credit and bank guarantees to both importers and exporters. The letter of credit can be used by exporters to get loans for their business. Logistic providers help in transporting goods safely to the destination ports.
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