Successful companies concentrate on one foreign market at a time, moving on to the next only after doing well in the last. Market research helps in locating right markets where your products should be introduced. Analysis of foreign trade statistics is an extremely important part of market research that determines which market you should concentrate first and potential ones to focus subsequently. In other words, your marketing plan will hinge a great deal on authentic foreign trade data.

We have discussed foreign trade statistics from Directorate General of Commercial Intelligence and Statistics (DGCIS) in last issue. In this issue, we shall discuss a second source of foreign trade statistics in India - Daily List of Export and Import from Customs.

DGCIS statistics provides a reliable macro picture of export or import. However, it does not get into micro level, showing description of products, quantity, price etc. Daily List of Export and Import from Customs provides brief details of every shipment made from a particular port.

What is Daily List of Export and Import ?

Govt of India, through various Notifications, has authorized Customs to disclose brief details of every export and import shipment for public access. Accordingly, Customs department in every sea port and airport display brief details of every shipment made through that port. This list is published daily - hence the name 'Daily List of Export and Import'.

The format of this disclosure has recently undergone changes, omitting name of exporter and importer. Interested readers may check latest customs notification in this regard - 'Publication of Daily Lists of Imports and Exports Rules' (Customs Notification No 128/2004 (NT) Date 19th November' 2004).

Example of Daily Lists of Imports and Exports

Notes on Customs Daily List

• Daily List of export import provides actual shipment data - which is difficult to get otherwise. It is reliable and authentic. Analysis of such data over a period can provide many marketing insights.
• The value and quantity figure provides actual export or import price. Unlike DGCIS data - these are not bundled into an ITC Code.
• Country-wise analysis can detect trends in usage pattern or new markets emerging.
• This is an excellent tool for micro-level analysis

Limitations of Customs Data

• Customs daily list is a port-wise compilation, not comprehensive India-wide data. One must take this specificity into account while analysing this data.
• Huge amount of data may be difficult to handle.
• The 'Unit' could be confusing for packaged commodities.
• Description is extremely brief in many cases.
• Name of exporter or importer will not be available in future. However, even in present form - it is extremely difficult to identify the company as no address information is provided.

Conclusion

DGCIS statistics and Customs data can complement each other in overseas market research. While the former provides macro picture, the later can complement it with micro level data. Ideally, one should use both the sources for a balanced view.