IBT Webinars, Learn at your desk.In business, knowledge is power. In international business, knowledge is survival.If you and your company are going to succeed in the international marketplace, you must know as much or more than your global customers, suppliers and competitors. A single misstep could not only result in lost sales and profits, it could lead to government-imposed fines and restrictions.That 's why International Business Training (IBT) has put together this collection of training materials designed to help importers and exporters succeed in international trade . Organized by topic-Export, Import, NAFTA and Incoterms-these books, seminars and personalized compliance auditswill help your company grow its global business, increase profits, and avoid the type of violations that could put you out of business.
American exports declined in 1998's second quarter, as contracting sales in financially troubled Pacific Rim markets more than offset continued strength elsewhere in the world. This was the second straight quarterly drop, and leaves US exports at their lowest level in over a year. Meanwhile, imports continued their steady increase; consequently, the trade deficit widened noticeably in the quarter.
These figures encompass trade in both goods and services; it is the goods component, however, which accounts for both the overall deficit and the recent widening of that deficit. The substantial surplus which the United States enjoys in services trade offsets only a fraction of the goods deficit, but services exports have held their ground over the past year During the April-June quarter, exports of both manufactures and agricultural products were below their levels of a year earlier. Meanwhile, imports of manufactures increased by 9 percent, leading to a dramatic widening of the deficit for manufactures.
Trade balances deteriorated during the latest quarter for all of the broad end-use categories. In three instances (foods and beverages, capital goods, and automotive), reduced exports account for all or most of the change, while in the case of consumer goods the increase in imports provides the explanation.During the past year, we have been working diligently to ensure that our documents clearly reflect all the details and information needed for export and import clearance. This has included a project to ensure that our classifications for export are accurate. We are stymied now. The question that we are trying to resolve at this moment is whether we should report the six-digit portion of the Schedule B code number or the full 10-digit number on our commercial invoices. Which is bestDue to data limitations, the following geographically oriented discussion, like the tables and charts on which it is based, does not encompass services trade or reflect seasonal adjustment.
Regional analysis shows that U.S. sales in key Asian markets continued to decline during the second quarter. In most cases, our exports to these countries were below the levels recorded a year earlier. However, in European and Western Hemisphere markets, US exports continue to show strength; sales to Mexico are up nearly 15 percent since the second quarter of 1997
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