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Following the typical annual trend, we see that July has the highest level of imports of any month in 2014. This is likely the peak of the retail-holiday import cycle – stores stocking up for the 2014 holidays. We will watch and see if August reaches similar heights.
This month, Panjiva released the Q1 2014 Trade Trends report. We’re reporting on several interesting finds, including:
- Increase in imports of medications to treat diabetes.
- Increase in exports to Saudi Arabia – of food AND weapons.
- Stable imports from Bangladesh – very little fluctuation in the past year.
We hope you’ll check it out, and let us know what you think either by leaving a comment here or dropping me a line at michael+tradedata@panjiva.com.
See you next month!
]]>We do some pretty amazing things with data on Panjiva. For example, our Network View tool gives you a complete visual read on trade relationships. And our Trends tool provides an easy view of products coming into the U.S. over the past seven years. Some of our clients have expressed interest in being able to build tools like these on their own – and the API can help.
Our client Arachnys provides a digital platform that helps due diligence and compliance professionals understand risks and opportunities in emerging markets. They have a wealth of data on countries, and companies, in emerging markets–but they wanted to add shipment-level trade data to the mix. They contacted Panjiva to see if we could help. Now, Panjiva is working with Arachnys on a new API application that is going to add shipment records to the Arachnys platform, supplementing their existing data so that Arachnys users can see trade records at the company level. This will allow Arachnys’ clients to see entities that are trading with embargoed countries and to verify trade relationships.
“Our clients need insights into companies in markets where data is incomplete, and Panjiva helps us provide that insight,” says Arachnys CEO, David Buxton. “We’re using shipment data on the Arachnys platform so that our customers can spot compliance issues like trade with countries under sanctions, but also to give an alternative perspective on a company by seeing who its trading counterparties are and whether or not the volume of goods it moves matches up with the picture it presents to the outside world. It’s going to be a powerful tool.”
Compliance is just one of the ways that our clients are using Panjiva data, as provided by the API. Join our experts for a Panjiva API Webinar, taking place June 30 at 3:00 p.m. EST to learn more.
]]>Today, we’re pleased to announce that we’ve created a new way to view Chinese trade data, and expanded our inventory of Chinese trade data to include 90 percent of all 6-digit HTS codes for Chinese imports and exports. With this additional data, those with a stake in global trade have the greatest possible level of transparency into the what’s coming out of and going into China. We think this data can help suppliers across the globe identify new Chinese buyers to sell to.
China’s emergence as a manufacturing power has helped expand China’s middle class and has made the country a top global consumer as well as producer. More companies are selling to China than ever before, and there is more opportunity to supply China than ever before. This makes transparency into the global supply chain critical.
Panjiva’s data on Chinese trade includes data on over 375,000 companies, including data on close to 100,000 Chinese companies that are importing goods from outside the country. This data is helping suppliers in the U.S., Europe, and elsewhere identify the Chinese buyers they should (or shouldn’t) be doing business with, opening up a huge new potential market of customers.
In 2013, China imported over one trillion dollars (USD) worth of goods. While the volume of imports to China is on the rise as the country shifts towards a nation of consumers, a careful look at the data underscores that a good percentage of consumption might be for their own manufacturing processes. Of the top 10 HS import codes, six are directly related to manufacturing and used in the manufacturing process, such as nuclear reactors, electrical machinery, valves, etc.
Some top import product classes in 2013:
- Electronic integrated circuits, other than Amplifiers/Memories/Processors & controllers (854239)
- Copper and articles thereof: Copper waste and scrap: Copper waste and scrap( 740400)
- Polypropylene, in primary forms (390210)
With the enhancements to Chinese Trade Data, we hope to better fulfill Panjiva’s mission of making global trade more efficient and transparent by providing never-before-seen insight to the global trade community.
]]>- People are optimistic about the overall economic outlook in 2014.
- They’re still sourcing in China, but they’ve got their eye on new locations.
- Buyers have concerns – particularly wage inflation in supplier countries.
You can download the full report here. Read it, and let us know what you think. Post your feedback here, or send us email at emily+stateoftrade@panjiva.com.
]]>The report found that the majority (75 percent) of buyers currently source goods from the United States and that the ability of U.S. manufacturers to turnaround and deliver goods faster than overseas manufacturers was the quality that most made the United States a desirable sourcing destination. However, most buyers (81 percent) cited a single factor that limits how much their company sources from the United States: high costs.
Other notable findings include:
- Working conditions not driving buyers to consider U.S. suppliers: only 4 percent of buyers cited concern about working conditions at factories outside the United States as a driver of efforts to increase the amount of goods sourced from the United States, despite many companies’ outrage following high-profile factory fires and a building collapse in Bangladesh.
- Visibility into U.S. manufacturers’ capabilities may limit their ability to buy: Despite nearly a third (29 percent) of buyers citing better visibility into capabilities of American manufacturers and suppliers as a factor that would increase their likelihood to source from the United States in the future, more than 60 percent of buyers admit to having limited, minimal or no visibility into such information.
- There is lack of consensus on whether consumers will pay more for American-made goods: more than half of respondents (52 percent) believe consumers will pay considerately or slightly more for American made goods, while the other half (48 percent) remain adamant they will not pay more. This suggests that strong evidence of consumers’ willingness to spend more on Made in America products may lead to a greater interest among buyers in sourcing from the United States.
