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Identifying and Assessing Export Markets
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Agenda Introduction Types and Sources of Information
Understanding HS Codes ITC Trade Map Analysis Market Access Map Analysis Country Analysis
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Introductions Who is the Export Market Research Centre (EMRC)? What do we do? Why are you here?
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exporTT’s Approach to Market Research
Trade Analysis to Identify Potential Markets Market Access Analysis to determine the duties Country analysis of Economic, Demographic and Geographic factors Development of an Export Dashboards Choose the top markets to conduct more in-depth research Market Visits
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Types of Information and Sources of Information
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Research on the Internet
Advantages Disadvantages Wide range of data sources for virtually any market Large Volumes of data Availability of Analysis Quick Access Low or No Cost Difficulty in Verifying Information Data is dispersed and in many different locations Information overload Easy to lose focus of your objective
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Types of Information Needed
Macro Economic Trade Flows Tariffs / Duties Pricing Trade Indicators Distributors Competition Standards Non Tariff Barriers Trade Shows Socio Economic Business Requirements
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What do exporters want to know?
Major importing or exporting countries Market supply and demand analysis Assessment of market potential and requirements Overview of market conditions Major potential buyers or suppliers
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Sources of Information
URL Trade Data ITC Trade Map Market Access Data ITC Market Access Map Country Information CIA World Fact Book
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Export Market Research Methodology
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Start’s Internally What are the strategic objectives of my company?
Expand into existing markets or increase market share Enter new markets Can these activities be supported? Do we have the capacity? What is our production cost and price flexibility? How do we compete? Price, quality or customer service
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exporTT’s Approach to Market Research
Trade Analysis to Identify Potential Markets Market Access Analysis to determine the duties Country analysis of Economic, Demographic and Geographic factors Development of an Export Dashboards Choose the top markets to conduct more in-depth research Market Visits
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Test Demand Low Cost ways to Test Demand Catalogue Exhibitions
Trade Leads Company Contacts Business Match Making Focus groups
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Export Market Research Methodology
Find Potential Markets Trade Analysis Market Access Analysis Country Analysis Assess Target Markets Draw Conclusions Test Demand
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Understanding HS Codes
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Harmonised System Internationally Standardized system of names and numbers used to classify traded products Administrated by the WTO Enforced by World Customs Organizations 16 Sections 99 Chapters Each chapter heading is broken down into Group Levels (HS 4) and Product Levels (HS 6) 6 digit HS codes are standardized across the world 8 and 10 digit HS codes are country specific
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Use of HS Codes Product Classification
Applying Tariffs in different countries Collection of International Trade Statistics Trade Agreements/Trade Negotiations To register your product (Rules of Origin, Product Registration, Health Certificates etc.)
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HS Codes HS CODE Group 01 – 05 Animal and Animal Products 06 – 15 Vegetable Products 16-24 Food Stuff 25-27 Mineral Products 28 – 38 Chemicals and Allied Products 39 – 40 Plastic and Rubber 41 – 43 Raw Hides, Skins, Leather 44 – 49 Wood and Wood Products 50 – 63 Textiles 64 – 67 Footwear and Head-ware 68 – 71 Stone and Glass 72 – 83 Metals 84 – 85 Machinery and Electrical 86 – 89 Transportation 90 – 97 Misc 98-99 Services Nomenclature 99 Broad Categories (2 Digit) 01 – 99 Natural Groups Exist
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HS Codes and Data Classification
HS 2: Chapter Level 2 digits (broad categories) HS 4: Group Level Sub sectors within chapters HS 6: Product Level Products within the group HS is standard up to HS 6 HS 8 and 10 are country specific
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HS Code and Data Classification
HS Example 09 – Coffee, Tea etc 0902 – Tea, whether flavoured or not flavoured – Green Tea
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Another Example HS 19 – Cereal, Flour, Starch, Milk preparations
HS 1905 – Bread, Biscuits, Wafers and Pastries HS – Sweet biscuits
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Another Example HS 21 – Misc. Edible Preparations
HS 2103 – Sauces and Mixed Condiments HS – Tomato Ketchup
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T&T/ Panama Partial Scope Agreement
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Verifying HS Codes Broker Customs ExporTT Trade Certification Office
Export Market Research Centre Customs in the specific market(s) of interest
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Exercise (10 mins.) Using the link below determine the HS Code for the following products product(s). Toilet Paper Ice Cream Ketchup Peanut Butter Matches
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Trade Analysis
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International Trade Centre (ITC) Tools
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Trade Map Types of Information Available
Import Data and Export Data Values and (arranged by HS Code) Import / Export Quantities Company Information Supplying and Importing Countries
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Trade Map Types of Data Direct Data
Official Statistics which the home country reports Mirror Data (In ORANGE) Official Statistics from partner countries (may under represent trade) ALL DATA IN TRADEMAP IS EXPRESSED IN USD THOUSANDS AS THE DEFAULT.
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Mirror Data Different levels of data collection across countries
Developed countries are better Mirror data utilises the available data to paint a picture of a situation Example: Searching for TT US data. No data in TT but data in US. Exports from TT to US – Not available Imports from US to TT - Available How you construct your searches becomes important even though you are searching for the same information
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Please Login to ITC Trademap
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Selection Menu Product Selection Trade Flow Market Selection
Data Selection
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Determining which markets should be targeted for your product(s)
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Export Values
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Export Trends in Values
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Export Quantities
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Determining the Demand for your Product in a Market of Interest
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USEFUL TIP Clicking on the ‘Code’ link allows you to change the view to ascending or descending order which makes it easier to identify products
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Identifying Competitors in the Market
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Change from product to country to see current supplying markets
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Downloading Data
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Product and Country Groups
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Country Group
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Product Group
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Exercise 1 – 20 mins Identify a potential market for your product by completing the following: Determine the size demand for your product in the market Identify the competitors in the market Present the size of the market in a line graph Present the competitor information in a pie chart
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Market Access Analysis
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Market Access Map General, MFN and preferential tariff rates applied by 196 countries and territories Rules and certificates of origin Other non-tariff measures (market requirements), e.g. technical requirements and conformity assessments
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Find tariffs Find non-tariff measures Compare tariffs Tariff Analysis Tariff reduction simulation User Guide E-learning Glossary Useful Links
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Quick Search
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Countries Tariff Chile 6% Venezuela 0% Brazil 16% Haiti 15% Honduras
Guatemala Mexico 10% El Salvador Ecuador 30% Nicaragua Panama Peru Costa Rica Bolivia Colombia Barbados Paraguay Jamaica Comparison of tariffs for the product across different markets in Latin America and the Caribbean
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Quick Search
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Quick Search
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Exercise 2 – 15 mins Determine the tariff rate(s) for your given product and markets of interest Compare the tariff rates with that of a competitor.
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Country Analysis
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Economic Indicators GDP GDP Per Capita GDP Growth Population
Unemployment Poverty Line Inflation
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Selection Menu
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Categories covered. Click on the + to expand each or ‘expand all’ to open everything on the page.
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Gives a general idea of the market and its history.
Gives some detailed information on the population. Size, age composition, major urban areas, religion, literacy and unemployment
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Economy Income equality helps you to understand the percentage of the population which can afford to buy your product Gini Index measures income inequality. 0 represents perfect equality and 1 represents total inequality
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Trade and Logistics
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Data from CIA World Factbook
Venezuela Peru Costa Rica Colombia Barbados Jamaica GDP Per Capita $17,900 $12,000 $14,900 $13,500 $16,200 $8,700 GDP growth -3% 3.6% 5% -0.6% 1.1% Population 28,868,486 30,147,935 4, 46,245,297 289,680 2,930,050 Population Growth 1.42% 0.99% 1.24% 1.07% 0.33% 0.69% Unemployment 7.8% 7.6% 8.5% 9.2% 11.5% 13.9% Poverty Line 316% 25.8% 24.8% - 16.5% Inflation Rate 69.8% 3.3% 4.7% 2.9% 1.3% 8.8%
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Exercise 3 For the markets identified in the pervious sections please conduct a macro economic analysis
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Other Factors to consider
Trends in the market e.g. Health trends, packaging and labelling International Standards and Certifications Shipping and Logistics Cost Taste and Preferences Political Instability Trade Protectionism policies
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Additional Dashboard Content
Sector Reports Product Profiles Company Profiles Brand Share/Company Share Prices
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Sources exporTT – Euromonitor International, Panjiva and In-Market Research Business Associations and Chamber’s of Commerce Company and Ministry Websites In-Market Consultants/Members of the Diaspora In-Market Visits (Meetings with Potential Buyers and Store Checks
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Other Factors to consider
Trends in the market e.g. Health trends, packaging and labelling International Standards and Certifications Shipping and Logistics Cost Taste and Preferences Political Instability Trade Protectionism policies
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Additional Dashboard Content
Sector Reports Product Profiles Company Profiles Brand Share/Company Share Prices
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Sources exporTT – Euromonitor International, Panjiva and In-Market Research Business Associations and Chamber’s of Commerce Company and Ministry Websites In-Market Consultants/Members of the Diaspora In-Market Visits (Meetings with Potential Buyers and Store Checks
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Sources of Information
Information Type Sources URL Macro-Economic CIA World Fact Book World Bank United Nation Statistics International Monitory Fund (IMF) Wolfram Alpha Trade Flows International Trade Centre – Trade Map Nation Master UN Comtrade Customs and Tariffs International Trade Centre – Market Access Map World Tariff World Customs Organization (WCO) Non Tariff Barriers CBI Access Guide International Standards Organization
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exporTT Services and Products
Market Access – Market Research (Secondary and Primary data), Trade Promotion Activities (Trade Missions, Trade Shows, Matchmaking Meetings) Capacity Building – International Standards (Food Safety), Training, Co-financing Trade Facilitation – Trade Agreements and Rules of Origin, Processing of SEW Certificates. Any thing that you need that is within our ability to do!
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Questions
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