4 Reasons Why Global Trade Data is Essential For Your Survival
In the never-ending hum of statistics, data, geopolitics, and development, we often overlook the sheer wonder of international trade. We miss how products conceptualized in one place, are manufactured someplace else. They are then shipped globally, and finally bought almost unthinkingly by the ordinary consumer. Why is this journey so overlooked by us? Why are statistics more important than trends or ideas, or mere observations?
These are four reasons why global trade data is essential for your survival as a trader and as an individual.
1. International Trade Is A Business Whirlwind in the 21st Century
Perhaps our obsession with numbers can be explained by the fact that international trade has never been as sophisticated. The intricacies and power dynamics displayed by global trade are unprecedented and invoke great curiosity in academic and trade circles.
Take, for instance, China’s Belt and Road Initiative(BRI). It a multi-trillion dollar project that cuts through continents, breaking development barriers yet giving rise to greater challenges like corruption and climate change. Western countries see it as a massive soft power exercise where debt and interest payments lend influence and strategic dominance to China.
Consider the war between Ukraine and Russia, and how the conflict has affected fuel prices and food security worldwide. Most notably in Sri Lanka, where disturbingly long queues snake outside petrol stations and people struggle to get one square meal.
Think also of the rising economies of Asia. How countries like Bangladesh and Vietnam have leveraged their workforce to build robust economies from dire straits.
2. Global Trade Data Detangles Difficult Trade Dynamics
We need numbers and data to better our understanding of global trade in a timely and easy manner. The understanding of global trade data is more pertinent than ever. That is why you need a reputed partner like The Trade Vision. We help you break down the factors that affect your business and push you in the right directions.
Our expertly crafted market intelligence reports help you understand the product flows of countries and how you can enter new markets. For when you understand, you make choices from a position of knowing. Your knowledge translates into decision-making, and decisions translate into profits.
3. Why You Need Trade Data Now More than Ever
The more bewildering trade dynamics become, the more we need data to understand the factors affecting the exchange of goods between countries. It is in the everlasting quality of mathematics and data science that reduces complexity to convenience and chaos to order.
For instance, let’s say you are an electronics manufacturer looking to offshore production. Without global trade data, it will be impossible for you to determine which country you should shift your operations to. Going by trends alone, you will be inclined to go to India or perhaps China. But with global trade data, you will realize that there is real value to be obtained from South East Asian countries like Vietnam and Thailand.
4. Rhetoric Doesn’t Always Make Sense; Data Does
Many a politician has made claims about the robustness of an economy, only to be outdone by the power of data. Leaders are experts at rhetoric but not at data science. People in a democracy are often fed data that is outdated, out of context, or downright false. Media outlets looking to grab the all-important eyeballs magnify the false information and give it a life of its own. Nowadays, this misinformation is further sustained by social media, and at a frenzied pitch.
This is why trusted data providers like The Trade Vision rely on much more than government declarations to formulate their reports. Our experts crunch ceaseless piles of port data, companies declarations, and local sources to give you the truth, every time.
The Trade Vision is an international trade research company. We provide you with actionable analytics that steers clear of the noise. Contact us now at firstname.lastname@example.org or call +1(307)7573116, to get started.
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