USITC vs. Tendata: Market Analysis for the U.S. Import and Export Trade - Which Trade Tools to Use?

tendata blogTrade Data Provider

ten data blog25-10-2023

When importers and exporters need to engage in import and export trade in the United States, they often require trade tools to assist in market analysis. Using these trade tools can save importers and exporters a significant amount of time and increase efficiency. There is a wide range of trade tools available in the market, including free options like the U.S. International Trade Commission (USITC) and paid options like Tendata. So, how do importers and exporters choose the right trade tools, and what information do these tools provide? Let's take a closer look!

Shanghai Tendata

Shanghai Tendata is a leading global trade tool with data coverage spanning 218 countries and regions. The core of Tendata's data is the U.S. customs data. Its data is comprehensive, frequently updated with a refresh rate of every three days. Shanghai Tendata's trade data comes from official and reputable sources, directly reflecting real-time transactions and commodity prices among enterprises worldwide. Shanghai Tendata's customs data is comprehensive, accurate, and highly valuable for customer development. Here are some key data and information you can find on Shanghai Tendata:

1. Finding Suitable Buyers from Customs Data of 80+ Countries

Shanghai Tendata's customs database provides real-time global customs data from over 80 countries, 42 Eurasian shipping route data, 100+ billion real-time trade data, and a database of 130 million purchasers. This data is integrated into market analysis charts, helping you understand global trade trends and distribution, allowing you to quickly, accurately, and scientifically target high-demand countries and emerging markets for your products.

2. Presenting Trade Details and Directly Contacting Buyers

Shanghai Tendata offers multiple search criteria to check the details of each cross-border transaction, including the exporter, importer, product category, transaction quantity, transaction amount, country of origin, carrier, departure port, and arrival port, among other information. You can use Shanghai Tendata to quickly and efficiently retrieve purchasers based on their purchase price and preferences, enabling you to identify target customers. By comparing historical data, you can swiftly identify genuine buyers, providing you with precise opportunities for successful transactions.

3. Professional Market Analysis to Seize Transaction Opportunities

Shanghai Tendata provides nearly 20 market analysis reports that you can customize and analyze from multiple dimensions. This allows you to easily capture primary export markets and customers within your industry. With volume and price analysis of transactions in the same industry and a supply chain analysis of your target customers, you can gain insights into details like customer bill of lading information and competitor details, thus highlighting your competitive advantages. This helps you gain a larger market share.

trade tools,import trade tools,export trade tools

U.S. International Trade Commission

U.S. International Trade Commission (USITC) is a U.S. government agency, and its official website provides various trade-related statistics and tools for public use. Here are some key data and information you can find on the USITC's official website:

1. Country Reports - Industry & Analysis compiles annual country reports providing international trade and other macroeconomic statistics for more than 230 trade partners. The data is updated twice a year, reflecting annual updates and revisions.

2. Monthly Trade Dashboard - An interactive dashboard providing an overview of U.S. goods and services trade statistics. It includes top industries and trade partners.

3. Partner Trade Tables - Rankings and percentage changes of the U.S.'s primary goods exports and imports partners' markets.

4. TradeStats Express - An interactive dashboard displaying year-to-date national and state commodity trade by partner and product.

5. Manufacturing Tracking - A dynamic web tool tracking key economic indicators for 21 manufacturing sectors.

The most significant advantage of USITC is the reliability of its data. Its import and export data is officially published and serves as a reference for many trade tools. Furthermore, USITC is entirely free, which is advantageous for businesses with limited initial capital, especially startups. You can easily access USITC data without financial concerns.

Shanghai Tendata vs. U.S. International Trade Commission

Shanghai Tendata utilizes business intelligence technology to generate charts, making market analysis and customer development straightforward. It provides comprehensive enterprise information and contact details, enabling quick customer engagement. However, the drawback is that Shanghai Tendata is a paid system, requiring an additional cost to use its services.

While USITC's data is trustworthy, its update frequency is slower (monthly to semi-annually). Additionally, it requires more time for data compilation, extraction of relevant information, and independent searches for potential customer contact details, making customer outreach a more labor-intensive process. The advantage of USITC is that it is a free data provider, eliminating concerns about costs.

trade tools,import trade tools,export trade tools

trade tools,import trade tools,export trade tools

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