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03-04-2025
In recent years, the use of global trade data has become increasingly common in the foreign trade industry, particularly in market research, price analysis, and client development. Many foreign trade companies are leveraging global trade data to enhance their competitiveness. Today, let's explore the advantages and disadvantages of global trade data in the industry.
Advantages and Disadvantages of Global Trade Data
Global trade data offers detailed information such as trade volume, trading countries, product categories, supplier information, and price ranges. This data can be accessed through paid reports, free platforms, or directly from customs websites in various countries. The authenticity and variety of this data can greatly assist foreign trade businesses in making market decisions.
Market Research: By analyzing global trade data for a specific product or region, foreign trade companies can gather key insights on market demand and competitive dynamics, helping them craft precise market entry strategies.
Client Development: Global trade data helps businesses identify potential clients or suppliers, understand their import/export activities, and engage in targeted client development.
Price Analysis: By examining global trade data for a product in different countries or regions, businesses can analyze price ranges and formulate appropriate pricing strategies.
Competitor Analysis: Analyzing global trade data of competitors allows foreign trade businesses to track market movements and adjust their sales strategies accordingly.
Advantages
Authority and Reliability: Global trade data is sourced from official government releases, making it highly credible and trustworthy. Compared to other market research firms or commercial data providers, global trade data is more authoritative and accurate.
Wide Coverage: Nearly all import and export activities pass through customs, so global trade data covers most trade activities worldwide. For businesses aiming to expand into international markets, global trade data is a crucial resource for understanding global trade dynamics.
Detailed Trade Information: Global trade data typically includes detailed descriptions of products, quantities, values, and the origin and destination countries/regions. This allows businesses to deeply understand their target markets and customers.
Trend Forecasting: Global trade data helps businesses monitor competitors' import/export activities, spot market shifts, and identify potential opportunities to prepare in advance.
>>>>>Get Global Trade Data<<<<<
Disadvantages
Incomplete Data: Although global trade data is broad in scope, variations in customs reporting standards across countries can lead to differences in data completeness and accuracy. Additionally, some countries' customs data may be delayed or missing.
Complex Interpretation: Global trade data is often raw and requires professional analysis to interpret effectively. Foreign trade businesses without data analysis expertise may find it challenging to use this data efficiently.
Legal and Privacy Concerns: Some global trade data may contain sensitive information, such as commercial agreements with suppliers or clients. The use of this data may be restricted by different countries' laws, so businesses must exercise caution.
Timeliness Issues: While global trade data is generally reliable, the data may be outdated due to the frequency of updates and reporting cycles, creating some risk when making time-sensitive decisions.
Tendata provides more than 10 billion trade data, covering 228 countries and regions, accumulating more than 10 billion trade transaction details, and a trade database of more than 230 sub-industries.
Searching product keywords or HS codes in Tendata iTrader will allow you to view tens of thousands of active potential customers in the past year, as well as customers' purchase records, including purchase amount, quantity, time, frequency, and their suppliers/buyers. These companies in the Customers List are all customers with needs, and can be used for foreign trade customer development.
>>>>>Using Trade Data from Tendata <<<<<
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