Trade data can be sourced from several channels. The reliability of the data depends on the source, the collection method, and whether the data has been cleaned and standardized.

1. Reliable sources with real data foundations

First-tier trade data providers, such as Tendata, obtain trade data from credible and traceable sources. Because these data sources are expensive to access, the annual subscription cost is usually high. However, the data quality is generally much better than data collected through indirect or unofficial methods.

Reliable trade data sources can be divided into two categories: official trade data sources and supplementary trade data sources.

1) Official trade data sources

There are four main channels:

· Customs authorities

In countries that openly publish trade data, official customs records can be used to obtain first-hand trade data. This is the main source of customs declaration data and is also known as direct trade data.

Indirect trade data refers to trade flows inferred from a country’s trade relationships with countries that do publish trade data. Although the data is inferred, it still originates from official records.

· Shipping companies and freight forwarders

Bills of lading can be obtained from shipping companies. These records may include the shipper, consignee, product category, and quantity.

· Ports and customs brokers

Cargo declaration records may also be available from major ports around the world.

· Supply chain finance companies

These companies can provide information related to supply chains, as well as some logistics-related data.

2) Supplementary trade data sources

Supplementary sources include commercial data, internet data, and exhibition data.

Commercial data usually refers to targeted datasets such as Belt and Road Initiative-related data, European bill of lading data, and South American bill of lading data. These datasets can reflect the overall trade situation of a specific region.

Exhibition data refers to data reported by exhibitors in some trade shows to determine eligibility for participation. After collection, the exhibition data can be matched with existing trade records.

2. Sources that exist, but are less reliable

1) Reselling data from other trade platforms

Some very low-cost trade data providers first purchase data from major platforms and then resell it to other customers. Once the original data provider discovers this, the reseller may face immediate data access suspension.

2) Buying from secondary or tertiary distributors

These distributors often do not update data in a timely manner. In some cases, the data may only be updated quarterly or even annually. For certain countries, the trade data may be five or even ten years old.

3) Web scraping

Some companies scrape public procurement information, company websites, and customer case studies, then package the collected content as “trade data.”

3. Is it worth buying?

The answer depends on whether the data source is reliable.

It is generally better to buy trade data from a first-tier platform. The price may be higher, but the data is more stable, less likely to stop updating suddenly, and usually comes with better customer support.

A practical recommendation is to request a demo before making payment. Many platforms offer free demos, which allow you to verify whether your target products are covered and whether the data quality meets your needs.

4. How to evaluate data quality

Data quality should not be judged only by the number of records. Some platforms may show far more records than others, but a closer check may reveal a large amount of duplicate data.

Using Tendata as an example:

1）Check whether the platform has undergone data integration.

Data integration is a very important step because it standardizes different weight units and currency units, and unifies company names, making market analysis more efficient and less error-prone. Data integration also merges duplicate records, so trade data platforms that have undergone data integration may show fewer records than other platforms.

Imagine you want to develop both Southeast Asia and Europe, but the amounts are not standardized into U.S. dollars—some are in Vietnamese dong and some in euros. If you simply click “market analysis,” how large could the errors in the AI-generated table be?

Tendata is the only trade data platform that provides two rounds of data integration. Its large product and research team ensures that the data used in customer analysis is intuitive and contains minimal errors. 

>>Contact Tendata for a free demo<<

2）Check whether the platform provides complete data fields.

Trade data from unreliable sources often contains only a limited set of basic fields. By contrast, reliable platforms usually provide more comprehensive fields, including seller information, product information, quantity, and price-related data. Tendata provides 92 complete trade data fields.

>>View the data fields provided by Tendata<<

3）Check whether the platform provides customer contact information.

Smaller and less reliable platforms often do not provide customer contact details, leaving users to search on Google or LinkedIn.

In contrast, a platform like Tendata can provide direct contact information for decision-makers, including email, phone number, LinkedIn, X, and Facebook, which can support both email outreach and social media prospecting.

>>Obtaining company contact information through Tendata<<