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Tuesday, November 3, 2009

Brief History of Global Trade Intelligence

During the early 17th century, the world was still in the stage of occlusion and with the flow of imported goods to shore, the common practice was to publish news in the newspaper to notify buyers. There were one such newspaper and business exporters gradually discovered the potential value of this type of information for shipping companies and exporters.

In 1966, the

United States

recognized that increased trade transparency was more conducive for market competition and product importing. As a result, the United States created the first trade disclosure of its kind in the world within the context of the Customs and Excise Act.

In 1970, the

United States

emerged as a world leader by processing customs data for international shipping routes. The new evolution in data management offered the ability for the collection, collation, and processing of data that would assist in analysis and critical business decisions.

In 1980, more than 80% of U.S. shipping companies began using shipping trade data. Over the same period, trade data information began to gradually attract the U.S. mainland buyers who wanted to develop the U.S. market through international importers and exporters.

In 1990, with the advent and popularity of micro-computer applications there began an industry of professional trade information service providers that provided data on the tens of millions of bills of lading for international trade. These organizations provided the initial processing of global shipping manifest information for companies importing and exporting goods.

In 1993, trade information became processed in Hong Kong and

China

officially entered the Asian market. From 1997-2000, after several years of maturation, the Asian market, Korea, and India possessed the appropriate application of intelligence and information service providers to complete in the global trade data market.

In 2003, the

U.S.

anti-terrorism legislation came into effect, and with the exception of enterprises that apply for an injunction, all of the buyers must complete registration by offering the real name of the consignee information.

TradeFBI USA is a leading global trade information resource that combines port-of-entry shipping data, unique information sources, and specialized software to create one of the most comprehensive, accurate, and actionable trade databases available anywhere.

Labels: Global Trade Intelligence, Trade History, Trade Intelligence