Import Report, Imports Analysis, Import Review

An import report of a country contains comprehensive import-related information evaluated on the basis of reliable statistics obtained from the nation’s custom authorities and importers. Import reports are subject to a thorough analysis pertaining to various factors such as the competitiveness of imports in the domestic market.

Components of Imports Analysis

The key factors that impact the analysis of an import report are:

Competitiveness: Imports can pose direct competition to domestic goods in terms of price and quality. The extent of competition by imported products is also dependent on the design, technological innovativeness and advertisement of these items.

Exchange rate: The currency exchange rate affects the monetary value of imported merchandise. The price competitiveness of imported goods may vary with inflation and fluctuations in the exchange rate.

• National attitude: The reception of foreign goods by native consumers influences the demand for these products.
• International relations: Trade agreements or the trade history with other countries contribute in identifying the nature and amount of imports.

Import analysis attempts at studying the demand and supply patterns of the importing country.

What does an Import Report Depict?

An import report reflects:

• Trade balance: The first impact of imports is visible on a nation’s balance of trade. A trade surplus (when exports are higher than imports) results in the accumulation of foreign reserves and helps to promote domestic businesses.
• Currency status: Imbalanced imports in a country might cause a currency bias. It may lead to the revaluation of the currency. If the national currency rises, imports become cheaper.

• Biggest exporters: The countries that contribute the maximum to a nation’s imports and the trade relations with these exports also find a place in the import report.

On a macro level, an import review for a country depicts the extent of contribution of imports on overall trade. On a micro level, the review exhibits the impact of factors such as quality, quantity and competitiveness of imports on the domestic market. A government needs to have a good understanding of its imports so that it can tweak its trade policies accordingly.