The United States plays a major role in the international market. It is one of the top three global importers and exporters of goods and services. The year 2020 was a challenging year for the entire global market.
The country saw a huge drop of 15.9 per cent in exports from the U.S., which was $2.1 trillion in 2020. The imports declined by 9.5 per cent to $2.8 trillion.
The United States has a huge share in the food and beverage markets, similar to the other industries. According to the trade insights, in 2019, the total global exports of food and beverages were $13.76 billion, whereas the total global imports were $14.90 billion.
Out of this, the United States exported $1.7 billion worth of food and drinks and was globally the leading exporter of these products. The country was also the leading importer of food and beverages and imported $1.85 billion worth of these goods into the United States.
What Is Global Trade Data?
Global trade data comprises data related to imports and exports taking place across the globe. These data consist of statistical information about international trade based on shipping time, destination country, origin country, bill of lading, supplier, buyers, product description and many more.
Global trade data is useful in several sectors like government, corporations, law firms, manufacturers, trading companies and international organisations. In addition, this data can be used to keep track of certain products in the global market as per their interest.
You can use trade data to find suppliers, buyers, manufacturers or shippers for a certain product that you are interested in launching into the market.
How Can Trade Data Benefit Your Business?
Trade data helps you in revealing the key insights of the domestic and international market. These key insights further assist you with better decision making. For example, with the help of trade data, you can understand how the product supply chains work and the demands of particular goods and services in the domestic and international markets.
It helps find buyers and clients for your goods and services and, therefore, expand your business in the international market.
Trade data also helps you know the flow of raw materials often needed to produce a finished product. You can also keep track of your competitors and have real-time updates on the important shipments taking place near you.
Trade data provides you with the information that is highly needed for better decision making. Therefore, you can build a strategy that can profit your revenue making and decrease the risks involved. After all, it is always better to be informed rather than making a rash decision.
You can also calculate the total costs that are involved in trading your product into the global market. Trade data also helps you analyse what price you should keep so that all the charges are covered along with a per cent of revenue.
How To Use Trade Data Solution To Find The Top F&B Exporters To The U.S.?
Trade data solutions can bring many benefits to several businesses irrespective of the product they are considering selling into the international market. And similarly, if you have a business related to food and beverages, trade data can also help you expand your business into the global market.
You can go through trade data solutions related to food and beverages to find out the suppliers, buyers, exporters or importers of these products. This data can reveal the ongoing trends in the world trade market.
You can find the regions that have a high demand for your product or something similar to that. You can then direct your product to the audience of those regions to expand your business and your profit margin.
Trade insights of your product or something similar to that can help you a lot in your business. First, however, you must have a good analysis of the market if you want your business to succeed.
Here are some easy steps to leverage these solutions for finding exporters for food and beverage to the US:
- Visit the website of trade data providing services like Trademo.
- You will find a search box that asks for the product name, country and type of company you are looking for. Next, select exporter, country and enter the name of the product.
- After entering the product keyword, country name and type of company, hit the search icon.
- This will open a huge list of exporters for the query/search you’ve made. You can rummage through these plenty options, open each exporter details (company and trade wise) and select the most suitable trade partner and contact them as per your requirements.
Why Should You Choose Trademo?
Misleading information that might have errors in the data can lead to seizing your products by customs or fines; therefore, you must take care that the trade provider you are opting for is completely authentic. You must also make sure that the payment gateways of these websites are fine so that you don’t get involved in any fraud.
This is where Trademo, the global trade data company, comes. However, Trademo is one of the best trade data providers online. The directory of data present on their website is huge and consists of authentic information. You can completely rely on this information as Trademo intel takes care of bringing accurate data to you.