Balance of trade equals exports minus imports. Exports are goods and services sold to foreign countries. Imports are goods and services purchased from foreign countries
Maypro, headquartered in New York, has 51-200 employees and raised $596.2B. Nailie, located in China, has 1-10 employees and raised $1.3B. Sambro International, based in UK, has 51-200 employees and raised £13M
FOB is an ICC international commercial law term indicating cost transfer point. Term originated from sailing ships' "passing over the rail". Definition varies by country and jurisdiction
HS codes help identify products for import/export purposes worldwide. Codes consist of 6 digits for different types of plastics. Additional digits may be added by country governments
GVMS stands for Goods Vehicle Movement System. UK implemented new import/export monitoring system from January 2022. System merges customs documents under single reference number. Drivers need only one document to enter ferry or Eurotunnel
Customs collects tariffs and controls goods flow into and out of countries. Traditionally focused on taxation, now includes security and trade facilitation. Each country has its own import/export laws enforced by customs authorities