Import Export Data Of All Countries
Giuseppina Worster
WITS TradeStat Database is designed with the purpose of providing the latest international merchandise and commercial services trade data and overview of country and region's imports and exports, tariff and non-tariff measures. View international trade statistics by country or region to obtain the following (i) country or region's overall exports, imports and tariffs (i) details of exports and imports with various partner countries along with partner share and Most Favored Nation (MFN) and Effective Applied Tariff (AHS) tariffs imposed. (iii) Details on various products exported and imported globally and with individual partner countries (iv) Trade indicators like number of export and import partners, herfindahl hirschman index, Index Of Export Market Penetration, Revealed Comparative Advantage (RCA) and much more(iv) Relevant indicators from World Development Indicators (WDI) like GDP, GDP per Capita, Trade as percentage of GDP, Services Exports and Imports, taxes on exports and more.
The data are provided in two formats. Sixteen formatted Excel tables provide data grouped by commodity and broken down by partner country. The tables covering all meat and livestock trade contain only recent data, while commodity-specific tables include data back to 1989. In addition to the Excel tables, a ZIP file contains two comma separated values (CSV) files: one with export data and one with import data. These files include all of the same monthly data as the excel tables, as well as disaggregated, unconverted data. These files are machine readable, providing a convenient format for R users and other programmers.
We purchase the data for this database from the Foreign Trade Division of the U.S. Census Bureau, which in turn gets the data from U.S. Customs and Border Protection. Customs receives the data from importers and exporters, who submit their transactions using the international Harmonized Commodity Description and Coding System: the system for classifying goods in international trade, developed under the auspices of the World Customs Organization, a Brussels-based group with representatives from about 161 countries. The United States is represented in the organization by U.S. Customs and Border Protection. The International Trade Commission maintains the Harmonized Tariff Schedule of the United States, used by importers to classify their goods. Exporters use Schedule B, maintained by the U.S. Census Bureau.
For exports and re-exports, the database uses free alongside ship value: the value at the port of export, based on the transaction price including inland freight, insurance, and other charges incurred in placing the merchandise alongside the carrier. Free alongside ship value excludes the cost of loading the merchandise, freight, insurance, and other charges or transportation costs beyond the port of export.
For imports, the database uses customs value: the price actually paid or payable for merchandise when sold for export to the United States, excluding U.S. import duties, freight, insurance, and other charges incurred in bringing the merchandise to the United States. This value is close to free alongside ship value.
US-China trade tensions have negatively affected consumers as well as many producers in both countries. The tariffs have reduced trade between the US and China, but the bilateral trade deficit remains broadly unchanged. While the impact on global growth is relatively modest at this time, the latest escalation could significantly dent business and financial market sentiment, disrupt global supply chains, and jeopardize the projected recovery in global growth in 2019.
The impact of previously imposed tariffs by the US and subsequent retaliation by China is already evident in trade data. Both the countries directly involved and their trading partners have been affected by rising tariffs.
In cases where there was a delay between announcement and implementation of tariffs, as in the case of the $16 billion and $200 billion lists, or plans to phase in the tariff increase, as in the case of the $200 billion list, we observed an increase in import growth in advance of the effective dates. This suggests that importers stocked up ahead of the tariffs, accounting for the sharper decline in imports thereafter.
As China imposed retaliatory tariffs, US exports to China also declined. While the front-loading dynamic is not evident in this case, US export growth to China has been generally weaker since the trade tensions began.
Consumers in the US and China are unequivocally the losers from trade tensions. Research by Cavallo, Gopinath, Neiman and Tang, using price data from the Bureau of Labor Statistics on imports from China, finds that tariff revenue collected has been borne almost entirely by US importers. There was almost no change in the (ex-tariff) border prices of imports from China, and a sharp jump in the post-tariff import prices matching the magnitude of the tariff.
Some of these tariffs have been passed on to US consumers, like those on washing machines, while others have been absorbed by importing firms through lower profit margins. A further increase in tariffs will likely be similarly passed through to consumers. While the direct effect on inflation may be small, it could lead to broader effects through an increase in the prices of domestic competitors.
The effect on producers is more mixed, with some winners and many losers. Some US and Chinese producers of goods competing in domestic markets with imports affected by tariffs, as well as competing third country exporters, are potential winners. However, US and Chinese producers of the goods affected by the tariffs as well as producers that use those goods as intermediate inputs, are potential losers.
Trade diversion is one channel through which producers are affected. Aggregated bilateral US data does suggest that trade diversion has occurred, as the decline in imports from China appears to have been offset by an increase in imports from other countries.
For example, US imports from Mexico increased significantly among some goods on which the US imposed tariffs. After the $16 billion list was implemented in August, a sharp decline of nearly $850 million in imports from China was almost offset by about $850 million increase from Mexico, leaving overall US imports broadly unchanged. For other countries such as Japan, Korea and Canada, one can observe smaller increases in US imports relative to the levels in September-November 2017. Of course, aggregate data could be masking other factors driving the bilateral trade patterns, such as the use of inventories. For example, there was little or no change in imports from third countries in the case of photosensitive semiconductor devices.
The impact on US producers with significant exposure to Chinese markets was also captured in stock market valuations. For instance, the equity price performance of US companies with high sales to China underperformed relative to US businesses exposed to other international markets, after tariffs linked to the $34 billion retaliation list by China were implemented.
The ratcheting up of bilateral tariffs between the US and China has had limited effect on their bilateral trade balance. In fact, in 2018, the trade deficit increased for the US as imports from China rose, which partly reflects the front-loading. As of March 2019, a small decline can be observed, but US exports to China are also falling.
Moreover, failure to resolve trade differences and further escalation in other areas, such as the auto industry, which would cover several countries, could further dent business and financial market sentiment, negatively impact emerging market bond spreads and currencies, and slow investment and trade.
In addition, higher trade barriers would disrupt global supply chains and slow the spread of new technologies, ultimately lowering global productivity and welfare. More import restrictions would also make tradable consumer goods less affordable, harming low-income households disproportionately. This type of scenario is among the reasons why we referred to 2019 as a delicate year for the global economy.
IMFBlog is a forum for the views of the International Monetary Fund (IMF) staff and officials on pressing economic and policy issues of the day.The IMF, based in Washington D.C., is an organization of 190 countries, working to foster global monetary cooperation and financial stability around the world.The views expressed are those of the author(s) and do not necessarily represent the views of the IMF and its Executive Board. Read More
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