Discover new ways to analyze imports

Published on 22 December 2021
After reading this note, you will learn about three ways Veritrade contributes to business success by offering detailed information on products available abroad.

 

Import decisions are always subject to the pressure of running against the clock. Time is money, and you cannot wait beyond a certain point before choosing suppliers or the products you expect to bring in from abroad. There are some risks, such as overlooking cheaper alternatives, overlooking more experienced companies, or bringing in products that are no longer new, which can be minimized if you have the right resources. In this article, we explain three ways in which Veritrade helps you to make an accurate analysis in a shorter search time.

 

1. Discover the variation of imports of a product to discover trends. Let's imagine the case of someone interested in evaluating opportunities in the face of an excess of demand with respect to the local supply of milk in Mexico. The search for heading 04021001 (milk powder or tablets) provides access to information on quantity, price, origins and transportation routes, among other relevant data. In this case, after analyzing the portal's figures, a table can be elaborated as follows:

 

After a simple observation, the question arises as to what is the reason for the increase in 2021. Could it be due to a recovery in demand, or could prices have risen? Additionally, it is possible to know other data such as the names of the companies that have brought each shipment, and the details of the content and value of each one. In other words, a single search can lead to an in-depth investigation that can be carried out without the need to consult other sources of information.

 

    2. Identifies the average import price of a product per month.
The search for information in Veritrade allows following a logical sequence of research to answer questions such as the above after a first look at the data. Specifically, for the case of prices, information such as the one in the following graph can be obtained.

 

Evolution of the cost of dry milk imported in Mexico (all origins included)

 

It is observed that the trend coincides with the increase in value. However, the proportion is lower than that of the total increase, so the main explanation for the increase in value is the greater amount of merchandise introduced into the country. Before finding out the reasons, the search can be complemented with detailed information on the customs agencies involved in each shipment, the ports of departure and entry, and even the city of destination, in addition to other data available according to the databases of each country.

 

3. Compares performance through interactive graphs By storing tariff headings as favorites, instant reports with analytical graphs on their performance can be accessed in the My Products section. The interface of this function looks as follows:

 

 

An important aspect of this section is that you can edit the analysis periods according to the months you want to evaluate, and that you can switch between information in terms of value or weight. On the other side, the search and information can be abbreviated by displaying the bars and graphs in annual terms or by searching for the last months. These are just some of the many advantages you can access through our portal! With us, you will have the opportunity to be one step ahead in the management of foreign trade information, and you will be able to experience it directly with the free trial we offer on our website. You can get it by going to https://bit.ly/VRTFreeTrial.
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