Using customs data is an excellent way to do competitor research and establish a sound import or export market strategy. Companies might also want this information for a variety of other reasons, such as to find a supplier for a specific product, to verify a supplier’s legitimacy or to gauge whether a supplier might be open to smaller orders.
But the million-dollar question is: How do you get your hands on this valuable information?
The answer in a nutshell: There are several ways to get customs data. How you go about it will depend on:
- How much money you’re willing to spend
- How much time you want to invest
- Which country’s data you’re trying to access
Regardless, here are the most common ways you can obtain the customs data you need to grow your business.
Public Customs Data
Unlike in other economies, in the United States, import records are publicly accessible. That means you can view import and export histories for any company that imports or exports anything to the United States of America. Sounds easy, right? Sort of.
You can get all this information, but you’ll need to file a Freedom of Information request through the Department of Homeland Security. And we should mention that the process can also cost thousands of dollars, depending on how much information you request.
Getting your hands on import histories for other countries, however, won’t be as easy. Unlike in the U.S., import records in other countries aren’t made public.
Online Tools
There are also a few online tools available that will provide customs data. However, some of these tools cost hundreds of dollars per month to use, and the data is often incomplete or outdated. (Not the best use of your money, in our humble opinion.)
If you do choose to use online tools like these, there are a few important things you should keep in mind:
- You’ll need to know the name of the supplier or competitor you want data on.
- Most websites only offer data on U.S. imports and exports.
- The information provided in the bill of lading may not be specific enough for your research needs.
- Some foreign countries may export goods under the name of another company, which can be confusing and misleading.
Subscription-Based Database Products
Some private companies also offer subscription-based products that provide legally obtained import/export data from the U.S. and other countries that has been transformed into digestible information. With these products, you can search companies, request contacts, set email alerts, download data in several different formats and obtain much more data overall.
Once you identify a reliable subscription-based product that provides import/export data, this is likely the best option you have to obtain the information you’re seeking. Although it will still require a financial investment, you’ll have all the data you need to generate market insights and stay ahead of your competitors.
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