Exports of Australia


Australian economy is one of the largest mixed market economies in the world, with a GDP of AUD$1.62 trillion as of 2015.

Australia is the 19th-largest importer and exporter in the world. The economy of Australia is dominated by its service sector, comprising 68% of GDP.
Economic growth is largely dependent on the mining sector and agricultural sector with the products to be exported mainly to the East Asian market.

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Top 10 exports of Australia are:

1. Ores, slag, ash
2. Mineral fuels including oil
3. Gems, precious metals
4. Meat
5. Cereals
6. Machinery including computers
7. Inorganic chemicals
8. Optical, technical, medical apparatus
9. Aluminum
10. Electrical machinery, equipment

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Morocco Trade Conference: SMEs and E-commerce


The bi-annual forum Trade Promotion Organization World Conference held in Morocco this year brought business leaders together to discuss the future of trade in today’s fast changing world.

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“The aim of this conference is to strengthen the role of trade organizations to boost and develop the exports and investments in all countries, especially in Africa, because they are the link in between the government strategies and between the private sector”, stated Zahra Maafiri, chief executive officer, Maroc Export.

This forum is a unique opportunity for global business leaders to share their experiences and take concrete steps to improve trade relations. It provides crucial support to firms struggling to swim in the digital waters.

“Logistics, distribution, payment system, taxation all this package, the international trade center will be putting together in order to help SMEs in the poorest countries and the most far away destinations to connect with the international market”, said Arancha González, executive director of the International Trade Center.

Participants have agreed on the importance of the transition to digital in the global business environment in the future. The most prominent challenge is to accelerate the development of the e-commerce sector and facilitate digital activities for SMEs, especially in the African continent.

Products Classification for International Trade


For exporting and shipping products all over the world producers and sellers have to take into consideration the main rules of international trade. Classification of the products is one of the important steps in the whole import and export process. It is a basic task to export, import or even for domestic trading.

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Standard International Trade Classification (SITC) is a classification of goods used to classify the exports and imports of a country to enable comparing different countries and years. The classification system is maintained by the United Nations.
The SITC is recommended only for analytical purposes – trade statistics are recommended to be collected and compiled in the Harmonized System instead.
Harmonized Commodity Description and Coding System or simply Harmonized System (HS) is effective since 1988 and is maintained by the World Customs Organization (WCO) and currently over 200 countries and economies make use of it.

HS Code is widely used in every international trade process. As an importer or exporter, it’s necessary to fully understand and make proper use of it.

Harmonized System proposes a logic organization of products classification, going from products economically less elaborated to ones with most added value. Therefore live animals are found at the beginning while machinery and precision instruments are listed in subsequent chapters.  The composition, form and function of the product are part of the classification model. The HS is structured in 21 sections and 97 chapters and those subdivided in approximately 5.000 headings and subheadings.

All references of HS to a given product are expressed by six digits. The first two digits indicate the HS chapter; the second two digits designate the headings and the next pair of digits the subheadings. Under the Harmonized System, all goods are subject to unique and unambiguous classification. It allows the classification even for merchandises yet to be produced.

Most of the countries that adopted the HS added two or four more digits to the initial six to accommodate specific needs of customs tariffs or for statistical purposes as well as to add their own Explanatory Notes.

Regional agreements or specific international commerce treaties may use other forms of product classification. That is the case of Mercosul the Southern Common Market, sub regional bloc formed by Argentina, Brasil, Uruguai, Paraguai and Venezuela. Mercosul uses the Mercosul Common Nomenclature (MCN), with eight digits, where the first six come from the Harmonized System and the two last digits are specific attributions within the Mercosul countries.

Top 10 Indian Exports


Indian economy is the seventh-largest economy in the world measured by nominal GDP and the third-largest by purchasing power parity (PPP).

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India is classified as a newly industrialized country, one of the G-20 major economies, a member of BRICS and a developing economy with an average growth rate of approximately 7% over the last two decades. Maharashtra is the wealthiest Indian state and has an annual GDP of US$220 billion, nearly equal to that of Portugal, and accounts for 12% of the Indian GDP.

Top 10 exports of India:

1. Gems, precious metals
2. Oil
3. Vehicles
4. Machines, engines, pumps
5. Pharmaceuticals
6. Organic chemicals
7. Clothing (not knit or crochet)
8. Electronic equipment
9. Knit or crochet clothing
10. Cotton

Myanmar’s Top Exports


Myanmar, also known as Burma, is a beautiful state in Southeast Asia bordered by Bangladesh, India, China, Laos and Thailand. One-third of Myanmar’s total perimeter forms an uninterrupted coastline along the Bay of Bengal and the Andaman Sea.

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The economy of Myanmar is an emerging economy striving to development. The country is rich in jade and gems, oil, natural gas and other mineral resources. Myanmar produces precious stones such as rubies, sapphires, pearls, and jade. Rubies are the biggest earner; 90% of the world’s rubies come from the country, whose red stones are prized for their purity and hue. Thailand buys the majority of the country’s gems.

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Myanmar once was Asia’s largest rice exporter, and still accounts for nearly a third of the world’s total teak production.
Myanmar’s largest exports are mineral commodities. These include items such as natural gas, petroleum, precious and semi-precious stones, tin, tungsten, zinc, coal, copper, lead and cement. The largest export item is natural gas, which is largely responsible for Myanmar’s economic growth.

Other major commodities exported by Myanmar are pulses and beans, wood/forest products notably teak, fish, rice, rubber, clothing/garments, jade and gems.

World’s Largest Economies 2015


GDP (Gross domestic product) is the single most commonly referenced figure to cover the entirety of a national economy and the trajectory it is on in a single statistic. Measured annually, quarterly, or monthly, trends in GDP for a single country or comparisons among peer countries are often called out in popular press, sometimes with alarmist tones that can make one wonder why or how this single data point has taken on such importance.

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World GDP Ranking 2015:

1. United States
2. China
3. Japan
4. Germany
5. United Kingdom
6. France
7. India
8. Italy
9. Brazil
10. Canada