/ By tjchinafreight ivy / Shipping

Importing from India: Shipping Tips

Importing from India: Shipping Tips
Importing from India: Shipping Tips

As one of the most important emerging markets in the world, opportunities to do business with India abound.

Imported from India: Top products imported by global buyers

In 2017, the South Asian country exported $292 billion worth of goods, with chemicals, precious metals and textiles being its top three exports. These goods accounted for 14%, 13% and 13% of India's imports, respectively, and 40% of all imports.

Tips to help you import from India to the US

The potential to do business, grow and scale in India is certainly something American buyers are not only aware of, but also capitalizing on.

The United States is currently India's largest trading partner, with some $51.6 billion worth of Indian exports being sold to the United States across nearly half the world. This accounted for 16% of India's total exports, more than the combined value of goods exported to India's second and third largest trading partners, the United Arab Emirates (9%) and China (5.1%), respectively.

Among India's imports to the US, chemicals, precious metals and textiles accounted for more than half of the total value of India's imports to the US, respectively 20%, 19% and 16%.

As a shipper looking to import from India, here are five things to know.

1. Familiarize yourself with "interstate taxes"

The Indian government imposes so-called "interstate taxes" on goods shipped from one state to another (there are 29 states in India). So, if your cargo needs to be transported from the hinterland to the port, keep in mind that interstate taxes will apply.

Whether this will be borne by you or the shipper will depend on the Incoterm selected.

2. Review your suppliers

While unreliable suppliers from anywhere in the world are often encountered, India has a reputation for questionable business ethics. When choosing a supplier from India, it doesn't hurt to go the extra mile to vet them.

You can do this by calling them instead of dealing with them via email. You may also want to consider traveling there yourself if your business expenses allow it. Requesting product samples is also a great way to ensure you are dealing with a reliable supplier.

3. Take advantage of its low manufacturing costs

Due to the relatively low cost of manufacturing in India, you may want to consider sourcing more from India rather than other manufacturers or sellers closer to home.

Even accounting for shipping costs, the total cost of importing from India to the U.S. may still be lower than producing the product domestically.

4. Book your shipment in advance and ship it by rail if possible

Logistics in India can be a nightmare. This is thanks to traffic congestion in Mumbai, home to the country's largest port, Jawaharlal Nehru Port. It is not uncommon for trucks to fail to reach the port in time due to traffic jams.

As a workaround, you should always book shipments at least two weeks in advance. If ground transportation is required, consider choosing rail instead of truck to avoid road congestion.

5. Language is not a barrier

Shippers looking to import from India will be happy to know that although Hindi is the most widely spoken language in the country, English is generally considered the language in which business transactions are conducted in India.

This will help facilitate communication and avoid misunderstandings.

/ By tjchinafreight ivy / Shipping

What are Australia’s main import and export commodities?

What are Australia's main import and export commodities?
What are Australia's main import and export commodities?

According to the Economic Complexity Index (ECI), Australia exports $234 billion in goods, making it the 20th largest exporting economy in the world. As a desert continent, Australia relies heavily on the coastal economy as a source of income to maintain its population.

Australia is also regarded by ECI as the world's 22nd largest importer, with total annual imports of $199 billion. However, this figure is the result of a steady decline in imports over the past five years. In terms of wealth per capita, Australia is the second richest country after Switzerland.

What does Australia export?

Australia's main export is iron ore, followed by coal, gold and oil, the other most valuable exports. These exports alone amounted to $48.2 billion, $47 billion, $29.1 billion and $20.3 billion, respectively. Of course, the country also ships other notable items, including food, wine, and cars.

What does Australia import?

In 2018, Australia imported about $227.3 billion worth of goods from around the world. The country's imports account for only 1.3 percent of total global imports, estimated at around $17.788 trillion. Oil and crude oil and cars appear to be Australia's main imports.

Australia's largest imports alone were valued at about $187.5 billion, equivalent to 82.5% of its total imports. Other notable growth in Australia's imports include furniture, bedding, lighting, signage, prefabricated buildings, plastics and plastic products.

Australia is known for its uninterrupted annual economic growth, growing steadily at around 3% per year. Its strong economy is largely due to deep trade ties with the Asian region and its largest iron ore export, accounting for more than 30% of the world's iron ore supply.

/ By tjchinafreight ivy / Shipping

What are Canada’s major exports and imports?

What are Canada's major exports and imports?
What are Canada's major exports and imports?

As one of the most prosperous countries in the world, Canada has excellent trade relations with the United States, South and Central American countries and Europe, which are Canada's bilateral trading partners.

Historically, Canada has relied heavily on trade and commerce to grow its economy, exporting large quantities of raw materials, including animal skins, fish, lumber and grain. But over time, they have shifted from reliance on raw material exports to exporting more manufactured and processed goods that can bring in better income because they are more expensive.

Main export

Car

Canada is one of the world's top four auto exporters after Germany, Japan and the United States. As the ninth largest auto producer in the world, the country has a huge advantage in exporting vehicles to multiple markets. Canada's auto industry has many assembly plants where foreign automakers assemble vehicles, with the biggest customers being Japanese and U.S. brands.

The country also has hundreds of companies and factories that manufacture automotive systems and components, creating a favorable environment for the development of the automotive manufacturing and assembly industry. In fact, it is because of this that automobile assembly and manufacturing are the industrial backbone of the nation's economy. It accounts for 23% of Canada's trade with other countries.

Canada produces all types of vehicles, from trucks and passenger cars to buses and the supporting systems and parts required.

Minerals

Canada exports three minerals: precious metals such as gold, platinum, diamonds and silver; energy minerals such as coal and uranium; base metals such as copper, nickel, zinc, iron and lead; and industrial minerals such as gypsum, limestone, potash and rock salt.

Canada is located on nearly 10 million kilometers of land and has six distinct geological regions. The Canadian continental shelf is the source of the country's oil and natural gas. These metals are mainly found in the central and western regions of the country that make up the Canadian Shield. The area has the potential to discover more deposits. The Appalachian region has deposits of potash, gypsum, asbestos lead, zinc, and salt. More gypsum, limestone and rock salt have been found in the Inuit orogenic belt in the Arctic archipelago. The Canadian mountains produce more precious and base metals, which the country exports, and internal platforms increase reserves of potash, natural gas, oil and coal.

With all these deposits, Canada is a major exporter and overall producer of potash, the largest exporter of uranium, the second largest exporter of asbestos and sulfur, and the third largest exporter of platinum group metals. They are the fourth largest aluminum producer and the fifth largest exporter of gold, silver, copper and lead. 90% of the country's minerals are exported.

Crude

Canada is a major foreign supplier of U.S. crude oil, exporting 48% of U.S. crude oil imports in 2018. The country exports 96 percent of its crude oil to its neighbors, totaling 3.5 million barrels of oil per day.

Canada's Alberta oil sands hold the country's oil reserves, with even more reserves on its Atlantic coast. The country is the world's third-largest crude oil producer and exporter after Venezuela and Saudi Arabia. They invest in the exploration, production and processing of petroleum with domestic and international consumption implications.

Wood

Softwoods account for 20 percent of the country's total exports. Their forest products generate $17 billion worth of revenue, particularly from newsprint, northern bleached softwood kraft pulp and softwood lumber. Canada dominates the market share of these products and is the largest producer and exporter of the three. Although the decline in newspaper sales in North America has led to reduced demand for newsprint, the country still enjoys demand from other emerging markets in Asia and the rest of the world.

The United States, China and Japan are major importers of Canadian lumber for use in the construction industry in these countries.

Main import

Auto and auto parts

Canada, the second-largest auto market in North America, saw its auto industry-related imports increase by 1% in 2018. They import cars worth $74 billion, with passenger cars the most. As the country is upgrading its road transport system, the country also imports trucks, buses and other vehicles for transport.

Canada's main exporter is the United States, which provides more than 65 percent of the country's auto imports. Auto parts and systems cost Canada $20 billion in 2018. Importing from the U.S. is easier for Canada because the two countries have very coordinated road safety regulations for their vehicles.

Computer machinery

In Canada, computers are key components that drive machinery. They import a lot of computer machines as the country is highly automated and computerized in key areas that drive the economy. Machinery is the key to technology, and as a first world country, Canada relies heavily on technology.

These computers are also widely used by Canadians to run businesses. The country's imports of computer mechanical and optical readers increased by 8.7 units in 2018.

/ By tjchinafreight ivy / Shipping

What are Spain’s main exports and imports?

What are Spain's main exports and imports?
What are Spain's main exports and imports?

Spain does a lot of business with Germany, France and Italy as its main trading partners in Europe and the US. France is the biggest beneficiary of Spanish exports, accounting for 15.3% of the country's total merchandise exports.

The European country happens to be the 16th largest exporting economy in the world. Below are some of its major exports and imports.

Main import

Crude

Spain's crude oil imports have been growing since the 1980s. By December 2018, the country reported importing 1,364 barrels of oil per day, a record high. The record low for Spanish crude oil imports was in 1984, when it imported 825 barrels per day.

In Europe, Spain is the sixth largest energy consumer, but they have no domestic production of natural gas or liquid fuels. Since the country's oil resources are insignificant, they have to import all their oil from countries like Nigeria, Mexico, Russia, Iraq and Saudi Arabia. The country relies on 46% of liquid fuels to maintain its energy consumption needs.

They spend as much as $23 billion on crude oil.

Steel

Spain is the 14th largest steel importer in the world. In 2018, the country imported nearly 11 million tonnes of steel. Many industries in Spain rely heavily on steel, such as automobile manufacturing and weapons manufacturing, and Spain needs to import a large amount of steel to meet demand.

Spain has been shipping steel for centuries, ever since it emerged as a serious contender in making weapons for various armies.

Apparel and Textiles

The preferred partners for Spanish textile imports are China, Morocco, Portugal, Bangladesh and Turkey. As the sixth largest importer of textiles in the world, the country's imports have seen significant growth over the past few years.

Designers are looking for a variety of fabrics when creating designs and growing the industry. This leads to a search for more fabrics to meet demand, especially if the fabrics are popular. These markets are outstanding because of the versatility of their trade zones.

Main export

Auto and Auto Parts/Accessories

Automobiles are an important part of Spain's export portfolio. The country's auto exports make it the eighth-largest auto producer in the world. It is actually second only to Germany. As of 2016, Spain sold 2.8 million vehicles worldwide, and in 2019 Spain's passenger car revenue to the US exceeded 36 million.

Spain produces a variety of models from its factories, including Nissan, Seat, Ford, Renault, Volkswagen, Opel, Mercedes-Benz and Peugeot Citroen. All of these cars are built in different cities in Spain, including Barcelona, ​​Vigo, Figueluelas and Martorell. Nine out of ten cars produced in Spain are exported to more than 130 countries.

Their auto parts and accessories are the sixth most used in the world. In fact, Spain's auto industry accounts for 10% of the country's GDP.

Refined petroleum

Spain imports crude oil and develops refined petroleum products from its refineries, which are then exported. In the 1980s, Spain began exporting more than 10 million tons of refined petroleum products annually. Refinery capacity in Spain can hold 1,000 barrels per day. Some of these products include refined petroleum products such as fuel oil, gas oil, lubricating oil, kerosene and bitumen, among others.

Drug

Spain is famous for its medicines and medicines. Spain's top pharmaceutical companies have been among the largest exporters in Spain, and as the Spanish economy has grown, their export capacity has begun to be reborn. Companies like GlaxoSmithKline have a 3.8% market share in the pharmaceutical industry. Xinfa, Bayer, Johnson & Johnson and Sanofi-Aventis are other huge market players in Spain.

Spain made a big payoff in 2018, becoming one of the European countries that shipped large quantities of medicines and medicines around the world, selling medicines worth $9 billion. In the first half of 2019, the revenue of pharmaceutical companies continued to grow.

Olive oil

In terms of export commodities, olive oil is one of Spain's largest earners. It is the country's main agricultural export. Demand for Spanish olive oil remains strong, with the olive oil export industry generating more than 2 billion euros for the country as of May 2018.

Spain remains the world's leading olive oil exporter, with most of its production coming from the country's Andalusian region. More than 500 companies in the region export olive oil, accounting for half of the total olive oil-producing land in the EU.

Despite the fierce competition among olive oil producers in Morocco and Tunisia, Spain remains the king of olive oil production in the world.

These are just some of the main exports and imports that Spain has a vested interest in. As Spain continues to maintain its status as one of Europe's largest economies, its import and export behavior may remain predictable, as its economic fundamentals are increasingly solid, supported by all countries. The same investment pillars.

/ By tjchinafreight ivy / Shipping

What are Argentina’s main exports and imports?

What are Argentina's main exports and imports?
What are Argentina's main exports and imports?

According to the Observatory of Economic Complexity (OEC), Argentina has the 45th largest exporting economy in the world. In 2018, Argentina became the 29th largest importer of consumer goods to the United States, exporting goods worth $61.6 billion to the world. Considering that Argentina's economy in the late 90s was very unstable due to the country's rising debt and inflation, it's safe to say they did well.

Main export

The South American country is one of the world's leading producers of crops - accounting for 54 percent of its exports - making crops Argentina's main export. These crops include wheat, soybeans, corn, barley, rice, flaxseed, sugarcane, cotton, citrus fruits and grapes. Argentina is actually the fifth largest wheat producer and exporter in the world.

At least 31 percent of their total exports include manufactured goods. This will include cars, auto parts, steel, aluminum and chemicals. The country produces about 818,000 barrels of crude oil per day, and in Santa Cruz alone, an estimated 552 million tons of coal exist in mineral form.

Main import

In 2018, Argentina imported about $65.4 billion worth of goods from around the world. Overall, about a third of imports come from neighboring Latin American countries, including the Caribbean. Considering their population of 44.7 million, their total import volume equates to an annual product demand of $1,500.

Below is a list of Argentina's most important imports and values:

  • Automobiles ($13.2 billion - 19.8% of its total imports)
  • Machinery ($9.9 billion - 14.9% of total imports)
  • Electrical equipment ($8.6 billion - 12.9% of its total imports)
  • Fossil fuels/petroleum ($5.5 billion - 8.2% of its total imports)
  • Plastics ($2.4 billion - 3.6% of its total imports)
  • Pharmaceuticals ($2.4 billion - 3.6% of its total imports)
  • Organic chemicals ($2.3 billion - 3.5% of its total imports)
  • Medical equipment ($1.8 billion - 2.7% of total imports)
  • Other chemical products ($1.4 billion - 2.3% of its total imports)
  • Steel ($1.3 billion - 1.9% of total imports)

Argentina also imports from Bolivia, Thailand, Japan, India, Italy, Spain, and France, accounting for 1.9%, 1.9%, 1.6%, 1.2%, 2.5%, 2.2% and 2% of the source of imports, respectively. Argentina is the world's 42nd largest importer, and as a major player in the global trade economy, the country continues to impress in terms of its size and geographic location in terms of export volumes.

/ By tjchinafreight ivy / Shipping

What are Chile’s main exports and imports?

What are Chile's main exports and imports?
What are Chile's main exports and imports?

Chile's economy is considered one of the most stable in South America. It also has the highest gross domestic product (GDP) per capita in all of Latin America. According to the Economic Complexity Index (ECI), Chile's economy is the 61st most complex in the world. It also happens to be the 42nd largest economy in the world.

Now let's look at Chile's imports and exports separately.

Main import

Chile's largest import category is machinery.

Machinery accounted for nearly a quarter of total imports, thus reaching $15.2 billion. Under this sector, the most imported goods include computers, video monitors, broadcasting equipment, accounting for 1.8%, 1.2% and 2%, respectively.

Apart from machinery, the most imported commodities are minerals and means of transport. In fact, the three major categories of products imported by Chile are crude oil ($5.43 billion, accounting for 7.9%), refined oil ($5.33 billion, accounting for 7.7%) and automobiles ($3.8 billion, accounting for 5.5%).

Chile's top three import partners are China, the United States and Brazil. China accounted for 21% with $14.8 billion, the United States accounted for 20% with $14.0 billion, and finally, Brazil accounted for 7.7% with $5.31 billion. Crude oil is Chile's largest import item, supplied by Brazil (43%), Ecuador (36%) and Angola (6.4%).

Refined petroleum is Chile's second largest import.

About 90%, mainly supplied by the United States. After the United States, the next two largest suppliers of refined oil are Japan (4.5%) and the Netherlands (1.4%).

Automobiles are Chile's third-largest imported commodity, accounting for 5.5% of total imports. The top three countries supplying cars to Chile are South Korea (26%), Japan (22%) and the United States (10%).

Main export

Metals are Chile's largest export category

reached $23.2 billion, nearly a third of all exports. In this category, the three products with the largest export volume include refined copper, raw copper and copper wire, which accounted for 23%, 3.8% and 0.7% respectively.

The two largest categories of exports are minerals and vegetables

$20.5 billion and $7.43 billion, respectively. Copper ore is the second largest export commodity. It belongs to the minerals category and accounts for 21% of all Chilean exports.

Chile's top three export partners

They are China ($18.9 billion, or 25%), the United States ($9.3 billion, or 12%), and Japan ($7.81 billion, or 10%). Together, these three countries imported 47 percent of Chile's exports. %.

Chile happens to be the largest importer of refined copper, followed by the United States. On the other hand, copper ore is imported from Japan and China. In addition to copper ore and refined copper, raw copper ($1.23 billion) and kraft chemical wood pulp ($1.17 billion) are two other commodities that Chile imports.

The United States is China's second largest importer, responsible for importing fish fillets ($1.38 billion) and grapes ($694 million). Non-fillet frozen fish ($615 million) and fillets ($452 million) were the second and third largest exports to Japan.

Add up

While Chile's top sources of imports are China ($15.4 billion), the United States ($11.5 billion), Brazil ($5.32 billion), Argentina ($2.77 billion) and Germany ($2.63 billion), the top export destinations include China ($19.2 billion), the United States ($10.3 billion), Japan ($6.38 billion), South Korea ($4.06 billion) and Brazil ($3.44 billion).

Items that fall into its import category are automobiles, refined oil, crude oil, broadcast equipment and delivery trucks. In terms of export items, according to the 1992 revised HS (Harmonized System) classification, there are refined copper, copper ore, fish fillets, kraft chemical wood pulp and blister copper.

/ By tjchinafreight ivy / Shipping

What are Mexico’s main imports and exports?

What are Mexico's main imports and exports?
What are Mexico's main imports and exports?

There are only a handful of countries in the world that can claim to be the world's major oil producers. Mexico is one of them. Mexico has long been a trading partner of the world's developed economies such as the United States, Spain and New Zealand.

In fact, Mexico is the 9th largest exporting economy in the world. Having said that, this is their main export and import.

Main export

Oil

One of the main destinations for Mexican oil is the United States, which accounts for 48% of the country's oil production. The United States imported more than 210 million barrels of crude oil from Mexico. Other countries that supply Mexico with oil include Canada, China, Japan, New Zealand, Australia and Germany. Mexico currently earns $18 billion a year from crude exports alone, and given the country's large oil reserves, it's a revenue avenue that isn't expected to decline anytime soon.

Mexican oil accounts for more than 30 percent of government revenue, and it continues to attract and drive public and private sector investment in the country.

Car

Mexican auto exports grew, with the sector accounting for 11% of Mexico's total exports. Auto parts and accessories also make up a large portion of the export equation, with 7% of these products leaving the country for foreign markets. The numbers fluctuate over a few months, but that's to be expected as countries grapple with a recession and trade war.

Brands with manufacturing plants in Mexico include General Motors, Nissan, FCA Mexico, Volkswagen, Kia, Mazda, Toyota, Audi, Honda. Vehicle exports were low in the first few months of 2019, but quickly reached an all-time high in March 2019.

Mexico is the fifth largest exporter and manufacturer of specialized and heavy-duty vehicles and vehicle components, especially components used in the agricultural and construction industries. The United States and Canada receive the largest number of light vehicle exports from Mexico.

Minerals

Mexico is the world's seventh largest copper exporter and ninth largest gold exporter. Mexico has been in the mining and minerals business for centuries, during which time it has traded minerals with neighboring countries such as the United States.

The mining industry in Mexico is a major player in government revenue generation because the country has excellent geological potential for mining. Countries such as Canada, Germany, the United States, Japan and Spain have made significant mining investments in the country, making it an export destination for Mexican minerals.

Main import

Corn

Mexico is a major consumer of corn on the global market. The product's largest trading partner is the United States, which exported more than 44 million tons of corn to Mexico in 2019. Other countries supplying corn to Mexico include Argentina, which supplied Mexico with 150,000 tons of corn to supplement its exports from the U.S.

Motor

In 2017, Mexico imported $150 billion worth of electrical machinery and equipment from the rest of the world. Currently, motor imports account for 40% of the country's total annual imports. As its biggest import, the country has to find a different source for it, and India has quickly become one of its regular suppliers of $210 million worth of equipment.

The growth of electric machinery is mainly supported by mining and automobile manufacturing.

Refined oil

Mexico is increasingly reliant on refined products from the U.S. and other countries, even though they export crude to the same countries. Mexican refiners, accustomed to processing light crude oil, cannot meet demand and therefore rely on foreign countries to refine petroleum products.

The Mexican economy relies heavily on oil to keep its industries and manufacturing plants running, so they must keep oil products flowing through exports.

Medical equipment

80% of Mexico's medical supplies and equipment are imported into the country. The country has spent $5.7 billion procuring medical supplies for the health sector. The Mexican health sector is divided into three segments: medical services, pharmaceuticals/biopharmaceuticals, and medical devices.

In Mexico, all medical devices and equipment can be imported duty-free as long as the NAFTA Certificate of Origin is presented. With the growth of medical tourism in Mexico, the number of patients has soared, and so has the demand for high-quality medical equipment and equipment.

Medical tourism is one of the main reasons why medical devices are one of the main imports of the Mexican economy.

/ By tjchinafreight ivy / Shipping

What are Peru’s main exports and imports?

What are Peru's main exports and imports?
What are Peru's main exports and imports?

Peru's economy is classified by the World Bank as an upper middle class economy. It is also the 39th largest economy in the world. Thanks to the economic reforms that took place in the 2000s, Peru has become one of the fastest growing economies in the world.

Exit

Peru's largest export partners are China (34%), the United States (11%), Switzerland (7%), South Korea (6%) and India (6%). Canada and Chile are also important export partners of Peru. Since Peru is a resource-rich country, it is related to both economic stability and social and environmental instability. With the government providing ready resources and multinational operations within Peru, the problem is unlikely to go away anytime soon.

Import

In 2017, Peru imported US$38 billion worth of goods, making it the 54th largest importer in the world. The main commodities Peru imports include petroleum/petroleum products, chemicals, plastics, machinery, wheat, corn, soy products, vehicles, televisions, front-end loaders, telecommunications equipment and telephones, paper, cotton and pharmaceuticals.

Many of Peru's imports come from China and the United States. Some other import partners include Argentina, Chile, Colombia, Ecuador, Mexico, Brazil and Japan.

U.S. Peru Trade Bond

In 2006, Peru and the United States signed the U.S.-Peru Trade Promotion Agreement (PTPA). While the agreement was ratified in June 2006, the revised protocol entered into force in June 2007. In December 2007, the Agreement Implementation Law became law and was officially implemented in February 2009.

In 2017, Peru’s trade in goods and services with the United States reached $20.1 billion. Exported goods were US$11.3 billion and imports were US$8.8 billion. In 2018, the U.S. and Peru recorded a trade surplus of $1.8 billion in goods. In 2017, the U.S. and Peru had a trade surplus of $1.2 billion in services.

The GDP of Peru in 2018 was approximately US$ 225.2 billion. U.S. foreign direct investment (FDI) in Peru in 2017 was $6.4 billion in stock terms. This direct investment is dominated by mining, manufacturing and non-bank holding companies.

/ By tjchinafreight ivy / Shipping

What are Colombia’s main exports and imports?

What are Colombia's main exports and imports?
What are Colombia's main exports and imports?

Colombia's trade revenue accounted for more than 34 percent of the country's GDP in 2017, according to the World Bank, and its international trade has been growing and quadrupling. The country mainly trades with the United States, Germany, Panama, China, Brazil and the Netherlands. They have also signed a number of trade agreements with the United States, MERCOSUR countries, mainly Central America, the Caribbean countries and the European Union, as well as the ANC. In addition, they have signed Pacific alliances with Chile, Mexico and Peru to strengthen trade relations with Asian markets.

Exit

Coal

Coal is one of Colombia's main exports, with 33.834 million tonnes exported in the first five months of 2019, and they remain strong in coal exports. The data showed that they exported less coal in the same period in 2019 than in the same period in 2018.

However, they rebounded in the months after May, with the government reporting $738 million in revenue from coal sales to overseas markets, up 30 percent from $568 million in 2018. Colombian coal prices are expected to remain stable for the rest of the year.

Colombia remains one of the world's leading mining nations, with large reserves of natural minerals, including coal.

Oil

Colombia produces crude oil, with export earnings from this product reaching $11.1 billion. Through December 2018, the country reported an average daily production of 591.985 barrels. Colombia became an oil exporter in the mid-1980s and has not looked back since, as the US is a major importer of Colombian crude.

Colombia's crude oil exports account for 57% of the country's total exports. It exports oil through the state-owned Colombian Petroleum Corporation, also known as Ecopetrol, but the country consumes its gasoline and other fuels locally. Profits from oil exploration in the country used to be split 50 ⁄ 50 between the state and the private sector, but the private sector has invested less in the oil sector due to attacks on oil interests by many insurgents.

Flowers

Colombia is a major exporter of flowers with a wide range of markets. Due to its mild climate, the country's proximity to the equator provides a unique environment for flowers to grow. The country is the second largest exporter of fresh cut flowers in the world, with a 15% global market share. Their large flowers, thick stems, and strong fragrance make them easy to distinguish.

Of the 400 farmers who grow flowers in Colombia, 300 grow flowers for export. The country has 4,000 hectares of land dedicated to the professional production of flowers, with roses occupying the largest share. Interestingly, Colombia is the world's largest exporter of chrysanthemums, not roses, because of stiff competition from countries such as Kenya that grow the fine roses. In addition to roses, Colombia also produces mini carnations, pom-poms, chrysanthemums and six-flowered flowers. The US gets 80% of its roses from Colombia, followed by Russia and the UK.

banana

Colombia was the sixth largest banana exporter in 2019. Bananas worth $859 million were exported in 2018 with the US and Europe as the main markets. This is a 1.4% increase for the same product in 2017. In 2019, banana exports brought in revenues worth $868 million. The country was able to achieve this growth by planting more areas and renewing plantations that have ceased production.

Import

Although Colombia has very strict regulations on importing cars into the country, it is still the main import into the country. Colombian authorities do not allow the import of used cars, so only brand new cars can be imported. The exception is foreign diplomats who move to Colombia, but they must first register with the Ministry of Foreign Affairs.

The number of imported cars increased in 2018, with Chevrolet being the most imported and sold brand in the country. About 50,000 of the car were sold throughout the year. French brand Renault came in second with 49,700 units.

Mechanical

Most of the machinery imported into the country is agricultural machinery and computers. The country spent $5.8 billion on machinery and equipment imports. Most of these exports enter the country as corporate imports.

Since the country joined the WTO's Information Technology Agreement in 2012, which requires member states to remove tariffs on most information technology products, Colombia has enjoyed importing some of the latest agricultural, manufacturing and processing plant machinery and equipment, which do have contribute to its development. economy.

/ By tjchinafreight ivy / Shipping

How to Import Computer Parts from China

How to Import Computer Parts from China
How to Import Computer Parts from China

If you plan to market your tech business to China, or you want to reduce overhead costs by purchasing parts, you need to understand the reasons for importing electronics from China. Specifically, computer parts require some special care and some import know-how.

In the past few years, China has adjusted some industrial policies and has become an important computer hardware producer in the world. In order to work with Chinese suppliers, it is important to understand these policies. Fortunately, these policies are not difficult to follow. Let's take a look at everything business owners need to know about importing technology from China.

Find Computer Parts Suppliers in China

The process of finding computer parts suppliers in China is not difficult. However, caution should be exercised when contracting with them. You should always do some homework before trusting a computer parts supplier.

First, check online reviews of different suppliers and warehouses in English. If this doesn't lead to any fruitful leads, your next step should be to work with an international law firm that specializes in translation, connecting business owners with Chinese suppliers, and handling Chinese intellectual property law and patents. This will ensure that you find a reputable supplier before you start signing contracts, and your lawyer will also help you translate and negotiate before signing.

If you want to import laptop and desktop parts from China, it is highly recommended that you work with a reputable and reliable freight forwarder, or possibly a law firm that specializes in Chinese trade.

Generic HS Code for Computer Parts

The HS (Harmonized System) code is a 10-digit code used by the United States to classify different export products. You need to be familiar with these codes before importing parts from China.

Regulations and requirements when importing electronic components from China
Some business owners are wary of importing electronics from China due to Chinese and U.S. regulations that have not been ideal for foreign businesses in the past. However, simply knowing how to comply with these regulations can make the process productive.

First, you should always look for suppliers that are 100% compliant with Chinese and US import and manufacturing laws. This can be difficult as many vendors may not invest in certification and compliance in different markets.

FCC certification

Compared to other countries, the U.S. rules on imports from China are relatively simple. The biggest certification you should consider is the FCC certification, which you can easily get for only a few hundred dollars. The FCC regulates any electronic product, including computer parts and Bluetooth devices. Any electronic components and components that emit radio waves that you want to import from China should be FCC certified.

If you are a retailer, in addition to the FCC, you will also need to have your parts and finished products certified by UL. This is not required by law, but voluntary compliance will show your consumers the quality of the products you produce.

Insurance

You also need to consider product liability insurance. Product liability insurance will protect you from possible problems if you import computer parts in bulk from China.