Comparison of US and Chinese Exports and Imports

China and USA are two biggest export and import countries. 

World trade has been dominated by these two giants. 

According to most experts not only world trade but also world itself will be shaped by the competition of these two countries. 

I would like to start investigating export import comparison of these two great countries below with the exports sub-heading. 

PS : Trade in commercial services did not take into account. Export and import refers to trade of tangible goods only. All data from WTO.

Top 10 Biggest Importing Countries in 2012

WTO (World Trade Organization) published its "International Trade Statistics 2013" recently. 

On this publication we can find invaluable information regarding the current status of the global trade. 

International Trade Statistics is the WTO’s annual compilation of global trade statistics. 

They have been publishing online since year 2001. 

As these statistics are collected and published by WTO, they are accepted as the most reliable international trade data by most of the organizations.

Today I would like to introduce you 10 biggest importing countries throughout world in year 2012 according to WTO statistics.

Which transport documents can be issued “to order”?

Exporters and importers use various types of shipping documents in international trade such as financial documents, insurance documents, inspection documents, transport documents, legal documents etc.

Daily life in trade practice shows us that foreign trade professionals could not use especially transport documents properly.

Exporters and importers should learn the specifications of each transport document in order to prevent any mistakes.

 

Are “Freight Collect” and “Freight Prepaid” terms described in Incoterms 2010?

Incoterms is a short form of International Commercial Terms.

They are published by ICC’s Commercial Law and Practice Commission.

Current version of Incoterms is called Incoterms 2010 which has been in force since 01.January.2011.

Incoterms rules are published by ICC in order to define buyers and sellers obligations, costs and risks associated with the transportation and delivery of goods in a very clear way with a global scale.

Incoterms rules can only be applied to transactions in which tangible goods are bought or sold. 

You cannot use Incoterms to sales of intangible goods. Incoterms rules can be used both international and domestic sales.

What Does “Freight Collect” And “Freight Prepaid” Mean on a Bill of Lading?

Various types of transport documents used in international trade.

Bill of lading is a transport document which is used in sea shipments.

A bill of lading is not only a receipt for the delivery of goods, but also contains a contract of carriage.

In traditional form it is also a document of title. Bill of lading as a transport document proves that:

• the consignor delivers the merchandise to the carrier in good order. 
• the terms of the carriage is accepted by carrier as indicated on the face of the document. 
• in a traditional form (negotiable bill of lading) consignor can pass title of goods to another party by means of endorsement or delivery. 

In addition to these information, bill of lading indicates by whom the freight charges will be paid.

“Freight Collect” and “Freight Prepaid” are the terms that used in this regard.