Outside of South America, Argentina is probably known more as the birthplace of the Tango and the romanticized icon Evita Peron. In terms of the country's impact on global affairs, Argentina is also known by historians as an ally to Germany and Italy during World War II - having harbored a number of war criminals - yet in recent years the country has maintained friendly terms with the United States and South American nations once considered political and economic rivals. Trade agreements with South American neighbors have helped Argentina grow as an important agricultural trade partner.

Buenos Aires (Source: Wikipedia)

 

As a member of MERCOSUR, one of the largest free trade zones in the world, Argentina is connected with Brazil, Paraguay, and Uruguay in a common tax applied to all imports brought into the continent, yet the majority of inter-group trading is accomplished with Brazil. While Argentina does not score as high as other countries globally in terms of gross domestic product, it is the third largest economy in the continent, bolstered in part by aggressive growth throughout the twentieth century despite long periods of inflation.

Today, Argentina relies upon its agricultural and tourism industries to maintain the economy, with secondary industries active in mining and construction. Top exports from Argentina to her primary trade partners - among them Brazil, the United States, and Chile - include:

• Soybeans - Soybeans and byproducts are Argentina's largest export crop. Approximately 40 million tons of soybeans are produced annually, with the majority exported not for human consumption but for processing into animal feed.

• Cereal grains - Approximately 13 million metric tons of rice, wheat, and other grains are harvested annually in the country, making Argentina one of the top exporters of cereal grains in the world.

• Natural gas and petroleum - Despite an energy crisis early in the 21^st century that resulted in a short of natural gas reserves, this remains a strong export, high in demand among trade partners.

• Fruits and vegetables - Citrus fruits are an important crop in the country's agricultural industry, as well as grapes which are highly prized for wine harvesting.

As Argentina is primarily an agricultural nation, imports of an industrial nature are very important to maintain a good balance in the country's industries. Brazil, the country's main export partner, provides Argentina with the bulk of their imported goods as well - accounting for nearly one-third of the overall incoming trade. The United States, China, and Germany round out the top import partners, all of whom provide Argentina with the following:

• Machinery - For the processing of agricultural products, Argentina relies upon the imports of corresponding machinery.

• Automotive - While Argentina has a growing automotive industry, the country continues to import popular brands.

• Electronics - While costs for certain electronic devices are high - smart phones may go for several hundred dollars USD or more - these imports are nonetheless important to help in the modernization of the country.

• Organic Chemicals - Chemical suppliers from outside the country provide Argentina with needed materials for a variety of uses, from health to production of goods.

Argentina continues to work toward building its domestic economy. As a major force in South America, continued relations with other top trade nations may help increase awareness of the nation's agricultural assets and in turn boost other sectors.

In studying the modern history of the Philippines, one may still be amazed to learn that this small island nation has only enjoyed a true contemporary democracy for less than thirty years. The deposing of Filipino dictator Ferdinand Marcos, whose nearly two-decade long reign of the country was marked by tyranny and numerous human rights violations, allowed for Corazon Aquino to assume the presidency and bring governmental reform. Despite these sweeping changes beginning in the mid-1980s, it is recently that the Philippines has emerged as a viable player in global trade.

 

Manila (Source: Wikipedia)

 

Among nations, the Philippines is ranked low in the list of top fifty national economies. Their gross domestic product for the last year came close to $200 billion, the result of a gradual shift from a primarily agricultural economy to one showing growth in service and manufacturing industries. With more people taking work in the industrial sector, it is fair to predict that this growth will continue so long as the government remains stable.

In 2010, the Philippines exported approximately $52 billion worth of products to their trade partners. Japan accounts for the largest percentage of export trading from the island nation, followed by the Netherlands, Hong Kong, and China. Major exports from the Philippines include:

• Clothing - While not the largest of the manufacturing industries in the Philippines, the garment-making companies account for a modest percentage of the nation's overall export profits. Familiarity with Western culture and fashions help keep this sector relevant.

• Electronics - The Philippines is known primarily for the export of semiconductors and computer processors. Intel and Texas Instruments operate plants in the country, and major cell phone companies rely on the Philippines for DSP chips.

• Copper - The nation has some of the largest copper deposits in the world, making the Philippines an important exporters of natural copper products.

• Fruits and Byproducts - With approximately a third of the overall economy rooted in agriculture, the Philippines is a major exporters of coconuts, coconut oil and other fruits.

The Philippines relies upon top import trader partners Japan, the United States, China and Singapore for items needed for daily use and production:

• Machinery - In its quest to concentrate on manufacturing, the Philippines imports the necessary equipment and transportation to achieve their goals.

• Mineral Fuels - Fossil fuels are imported to refine into petroleum, which is then exported to various trade partners.

• Textiles and Fabrics - Textiles are imported to maintain the nation's small but viable clothing manufacture sector.

• Grains - With population growth taxing the nation's domestic food resources, the Philippines relies on trade partners to acquire corn and rice, among other foodstuffs.

Economists are wise to keep an eye on the Philippines in the years to come. The nation is not only an important resource for call center employment - the nation is on par with India in this respect - but a growing Asian economy that could prove influential in various industries.

If children learn anything about South Africa in school, more than likely the history books concentrate on the country's long period of apartheid - or segregation that favored the Caucasian minority - and the eventual liberation of her oppressed. We are familiar with Nelson Mandela, Desmond Tutu, and other noted activists who fought for their people's freedom, and learning more about the country's economy and political progress helps gain a better understanding of how South Africans live and work.

Once a colony of the vast British kingdom, a condition that fostered the ruling class of the white minority population, South Africa became a Republic in the early 1960s. However, the end of apartheid happened as recently as the 1990s. Despite these changes made for the benefit of human rights, South Africa has experienced challenges in lowering unemployment and decreasing the poverty rate, yet displayed enough of a turnaround to gain admittance into the BRIC group of emerging market nations in 2010.

 

Cape Town Financial District

 

Main Exports of South Africa

South Africa is perhaps best known for its abundant diamond mines, and as such diamonds are one of the country's biggest exports. Japan, the United States, and Germany top the list of top trade partners in terms of exports from South Africa, which also include the following:

Precious Metals: South Africa is one of the world's largest producers of platinum, gold, and chromium. The mining industry is perhaps the prime source of labor and employment in the country, and South Africa's major trade partners keep up the high demand for these metals.

Avocados: While agriculture represents a low percentage of the overall industry, South Africa is one of the world's top exporters of this popular fruit.

Citrus and Deciduous Fruit: Among the more plentiful fruits grown in South Africa - grapefruit, tangerines, apples, and grapes.

Wine: Bountiful grape growth has resulted in a healthy business of wine production in the country as well. Vintages include Sauvignon Blanc grown on the Constantia estate and Merlot and Shiraz from the Stellenbosch district.

Wool and Mohair: The United States in particular has invested millions in South Africa's growing textile industry. While the nation is close to providing international traders with a viable alternative to major exporters like China, South Africa does have an impressive corner in the mohair market, as it is a top producer and exporter.

 

Main Imports to South Africa

Rice: With South Africa's agricultural industry minimal and concentrated on other produce, the country relies upon trade partners in the United States and China for grains like rice.

Vegetables: Vegetables from other countries are also in high demand to maintain optimal nutrition among the nation's people.

Automobiles: South Africa imports passenger cars from top trade partners Germany and the United States, while their domestic automotive industry accounts for ten percent of their overall exports.

Civilian Aircraft: Passenger planes and similar equipment are also popular imports.

Machinery: South African's mining industry requires quality excavation equipment to maintain, therefore this is an import in high demand.

 

Today we may associate South Africa with their diamond industry and the buzzing vuvzela horns that World Cup fans used in 2010 to cheer their favorite teams, yet as the country continues to grow economically we are certain to know them for much more.

If somebody were to hand you a dollar bill and ask how much is it worth, your first inclination may be to answer that it's worth one dollar - face value. This may ring true for a normal consumer, but in the grander scheme of things the US dollar will fluctuate in worth depending on the health of the economy.

If you have only a perfunctory interest in global finance, you may hear phrases like "the strength of the US dollar" or the Japanese Yen or British Sterling as compared to other currencies. One example of a strong showing for US money is it's value in Canadian dollars. Because the US dollar was worth $1.04 CDN as late in 2009, it grew in value from the prior year, when one could only get ninety-eight cents Canadian per US dollar.

When the US dollar is strong, the currency exchange will favor it when you wish to trade for Euros, Yuan, or other monies. There are many factors that can affect the value of a single currency, too. Let's use the US dollar again an example to break down the specifics.

1) Global Trade Environment - Ideally, a country will want to export more than it imports to keep up the strength of their home currency. When the reverse happens, the country's trade partners must help to balance the exchange and keep the dollar strong by buying up domestic assets.

2) Political and Social Factors - Our monetary strength is also affected by actions in our government. A President's approval rating, for one, influences how much foreign countries invest financially in the US, and tax cuts made within reason (that is, ones that don't widen our current national debt) also work to increase household spending.

3) Activity in Other Countries - Events in Europe and Asia, unrelated to the United States, may also affect our monetary value. Military conflicts, oil activity, and strengthened economics can accordingly decrease or boost the dollar overseas.

4) Consumer Behavior - The more our citizens spend on items made in China, Taiwan, and elsewhere, the more those economies benefit as a whole for global economy, to which the domestic economy is linked. Oil prices also effect how we spend. Rising gas costs may equal less travel and consequently less spent in country.

5) Industry Factors - To counter the inevitable global competition, the domestic industries will have no choice to embrace the need for the change, to break out of the so-called red sea (fierce competition due to similarity and lack of peculiarity), and to create their own blue ocean by innovation, which is part of the human evolution.

As you study global economy, you will find many more factors affect the global worth of money. To achieve a strong dollar here, it's important to work toward strengthening domestic economy. This also increases global dependence on our economy, and hopefully good relations in trade.

Bombay Stock Exchange (Wikipedia)

In recent years, people are likely to associate India as a growing center for outsourced labor. When you need to contact support for your computer, credit card account or other product, you are likely patched through to a call center in India. It is not unusual for Western companies to employ cheaper labor overseas, but it also wouldn't be fair to dismiss India as a nation that relies solely on supporting global companies in this manner. With a gross domestic product estimated at $1.5 trillion, India ranks among the top ten global economies and enjoys healthy product trade relationships throughout Asia.

Historically, people may identify India as a third-world nation. Often the media presents images of the populous lower class, though in recent years India has emerged as one of the fastest growing economies in the world - it stands as part of the BRICS groups of rising nations in global trade, working to remain strong despite recent financial problems and natural disasters that threatened agricultural production.

 

Major Exports of India

 

India counts among their top trading partners the United Arab Emirates, Saudi Arabia, Germany, China, and the United States. The majority of exports are shipped to the US and UAE, with China a distant third. While the bulk of India's agricultural production remains domestically distributed, the country still has much to offer for trade. Exports most in demand include:

Petroleum Products - Refining of crude oil from the Middle East and consequent exporting of product accounts for about fifteen percent of India's total GDP.

Iron and Steel - Steel and iron production has been part of the Indian economy since the early 20^th century, before their independence from Great Britain. Coupled with iron ore mining, this industry comprises a large percentage of the nation's exports.

Vehicles - While not a well-known automobile in the United States, the Indian-made Tata Nano is considered one of the least expensive models on the automotive market. Growing interest in fuel-efficient cars may make this a hot commodity in the future.

Apparel - After agriculture, textiles offer one of the largest sources of employment in India. Approximately one-fifth of the nation's total exports are apparel-based.

Major Imports of India

As a largely agricultural nation, India naturally relies upon major import partners like China and Saudi Arabia for the raw materials needed to produce what is exported. Crude oil, machinery for refinement, and fertilizer for crops rank among the highest demand imports.

One can expect to see India grow in domestic industries like telecommunications and textile and food processing in the near future. With a labor force approximately half a billion people strong, India's influence on global trade will leave a lasting impact.

In recent years, people may be apt to dismiss Nigeria as a legitimate player in the global trade arena. For all the resources this country offers the West and other parts of the world, the association of the country with the rapid rise in Internet and phone scams risks the Nigerian reputation. These dubious e-mails are referred to as such as in the beginning the majority of messages originated (or claimed to come from) Nigeria - although now similar Internet scams come from other parts of the world. Despite this mark, it should be noted that Nigeria is a growing member of the Next 11 group of trading countries, an emerging mixed economy ranked among the top forty nations in the world in terms of gross domestic product.

 

 

In its home continent, the republic follows only South Africa in ranking the top African nations by overall economy - and is the largest in West Africa. Thanks to rich oil fields, the country provides a powerful resource for petroleum that hasn't gone unnoticed among western nations, including the United States. The US alone accounts for Nigeria's greatest percentage of foreign investment.

 

Top Exports of Nigeria

 

The majority of the republic's overall income is derived from petroleum and crude oil exports. As a member of OPEC and one of the largest suppliers in the world, Nigeria exports billions of dollars worth of oil annually - with the United States receiving the lion's share. Other popular exports include:

 

Cocoa beans - While not a major figure in this commodity as other countries, several million dollars' worth of cocoa exported around the world makes this crop quite valuable.

 

Natural rubber - With a growing interest in manufacture of "green products," Nigeria has seen a rise in demand for rubber and tree gum.

 

Tree and ground nuts - More than half of the republic's labor force is agricultural, and ground nuts especially make up a good percentage of crops.

 

Cooking oils - Palm and coconut oils are pressed and exported regularly.

 

Top Imports of Nigeria

 

Nigeria's primarily agrarian environment leaves her people to rely upon global imports to sustain the domestic economy. Drilling equipment for their natural oil resources is especially in demand, as is other excavating machinery. Other top imports from the United States and elsewhere include:

 

Grains - Corn and rice come in high demand, for though Nigeria has plenty of land for farming it is used more for what they export.

 

Automotive - Cars and transportation are shipped regularly into country to ensure business stays moving.

 

Refined petroleum byproducts - As with other countries, Nigeria tends to export more crude and raw materials and leave refinement to trading partners.

 

With western nations continuing to seek alternative fuel partners, it is a great probability Nigeria will figure more into American trading. There is definitely more to this country than an unfortunate association with Internet misbehavior.

If the land now known as the Republic of Turkey could reveal its storied history, what you'd heard would assuredly take as long as Earth's existence. It was here in this country that spans parts of Europe and Asia that civilization literally began, with proof of the earliest Neolithic settlements evident. While today Ankara is the republic's capital, for a time Byzantium (known later as Constantinople and now Istanbul) was regarded as the center of the world, gaining prominence as the "new Rome" after the fall of the Western Roman Empire.

 

 

Through centuries of political and trade dominance as part of the Ottoman Empire, then as a republic formed initially under the administration of Mustafa Kemal Ataturk (whose legacy is still regarded highly among Turkish people), Turkey presently ranks fifteenth in annual global gross domestic product. Following a boom in the last decade, Turkey is viewed as a growing economic power in the Next Eleven group, with reliance on industry moving the country away from agricultural growth. Tourism, an important factor in Turkey domestic profit, average $20 billion to the country alone.

 

Top exports of the Republic of Turkey include:

 

Construction Materials - Cement, lime, steel and byproducts are traded regularly to Turkey's main export partners, Germany and the United Kingdom, and Italy.

 

Textiles - Cotton and synthetic fabric are used to create some of softest, most luxurious fabrics available. When you shop for bath towels and bed sheets, more than likely you look for Turkish made brands before you go anywhere else.

 

Petroleum and Byproducts - Given the country's location, Turkey is rich in the resources needed by other countries for refinement and use as fuel.

 

Shipbuilding - As a ship and luxury yacht builder, Turkey is ranked among the top countries in the world, just behind Asian powers China, Taiwan, South Korea, and Japan.

 

With regards to importing products, the Turkish population has generated a high demand for the following:

 

Civilian Aircraft - While Turkey has the means to produce machinery, particularly airplane engines, they rely on the United States especially for transportation materials.

 

Raw Cotton - Turkey does an outstanding trade in completed fabrics, yet does not produce much of the raw materials needed to make clothing and upholstery.

 

Foodstuffs - Staples like eggs, dairy, fish, and vegetables are imported from around the world to satisfy the need for a balance diet. Rice is especially in high demand in recent years.

Though the republic's GDP growth has slow since their mid 2000s boom of 7%, Turkey remains a trader of importance in Europe and Asia. The rise in domestic production of mechanical equipment and automobiles, for two, contribute along with the country's others assets to make Turkey one to watch in the next decade.

 

Photo by Uspn|Bjørn Christian Tør

 

In the centuries before this nation, formerly known to the western world as Persia, the Islamic Republic of Iran served as one of the world's most influential and powerful civilizations. These days, as a founding member of the United Nations and OPEC, Iran maintains a stable economy based largely upon their production of crude oil and natural gas and trade relations with allies in Asia and Europe. Despite tensions between the United States and Iran stemming from the nation's revolution in the late 1970s (which ousted the country's last Shah) and US support of Iraq in the First Gulf War, Iran is nonetheless ranked in the top twenty among countries with the highest Gross Domestic Product, and future dependence on oil is likely to keep Iran a strong global trade player.

 

 

As one might expect, the primary resource behind Iran's nearly $900 billion GDP is oil and natural gas. With demand-and prices-for oil remaining high, countries in the Middle East tend to hold the bargaining chips, and Iran maintains ten percent of the planet's oil reserves and fifteen percent of overall natural gas reserves. Yet, while petroleum accounts for 45% of Iran's total annual export revenue (nearly $100 billion in 2009), it is not the only product traded out of the country.

 

Arts/Handicrafts: The beautiful, handwoven Persian carpets and textiles, copperware and woodwork, and other artisan crafts of Iran comprise half a billion dollars' worth of export profits. While not as lucrative as oil, these unique arts have helped to stabilize the incomes of Iran's working class. These intricate rugs and pottery and home décor are found in bazaars and stores around the world, with China, Japan, and India counted among Iran's greatest export allies.

 

Fruits and nuts, gourmet foods: Iran is the world's largest producer of caviar, thanks to the abundance of fish from the rivers that spill into the Caspian. Saffron, pistachios, dates, and berberis are also harvested and shipped on a regular basis.

 

Cars: It should come as no surprise that, as one of the largest producers of oil in the world, Iran also has a hand in automobile manufacturing. The nation is the largest car maker in the Middle East with companies Iran Khodro and Saipa leading the list of manufacturers that have exported about a billion dollars' worth of product.

 

Though Iran seeks to maintain resources for domestic use, the country does maintain import relationships with the United Arab Emirates, China, and Germany. With only twenty percent of the nation's land usable for agriculture, Iran relies on imports for processed foods and other crops that aren't easily grown domestically. Raw materials for manufacture of automotive and other equipment is also much sought after, as are household consumer goods-telecommunications, technology, and various domestic needs. In recent years, Iran has worked to strengthen trade ties through real estate investment and assisting the economy of neighboring nations.

 

With trade income expected only to increase in coming years, Iran is certain to continue an overall economic growth that forges political as well as financial relations with the Middle East, Asia, and Europe.

Kathryn Lively
Photo courtesy of Wikipedia

 

 

You hear the word Egypt, and you're wont to think of ancient history and civilizations-pharaohs and hieroglyphics, and the majestic Cleopatra floating on her caravan down the Nile. Those who have not traveled to this part of Northern Africa may not realize how much the country has changed over the centuries. While one can still see preserved remnants of this former global power, many of the country's larger cities like Cairo are well developed and, as indicated by Egypt's position in the "Next Eleven" grouping of global trade, working to improve the nation's economy.

 

The Economy of Egypt

 

Egypt relies largely on shipping to keep their economy running smoothly. Where the Nile served as the country's most important waterway in ancient times, Egypt is also dependant upon the Lake Nassar and the Suez Canal for improving domestic ecology and agriculture, with the latter used for expedited travel to Asia.

 

 

Egypt's primary source of domestic revenue comes from tourism. Thousands of visitors annually visit the great pyramids, the Sphinx, and other points of interest that serve to remind us of past civilizations and where the roots of governmental practices, literature, and religion originated. As a developing nation, Egypt is also the recipient of foreign aid and one of the United States' largest beneficiaries. In recent years, Egypt enjoys a market-oriented economy with growing prospects in the realm of exports.

 

Egypt trades most often with the United States, Italy, Spain, and Saudi Arabia, exporting a number of natural resources:

 

Crude Oil/Petroleum: With nearly twenty oil fields in the country, Egypt has yielded close to four billion barrels of crude reserves for trade with hundreds of multi-national oil companies.

 

Cotton: You've probably seen bed sheets in your favorite department store, made from Egyptian cotton. This is a popular commodity for trade with international textile manufacturers.

 

Textiles: Egypt, of course, is known for their own refined textiles and exotic apparel which are available in stores around the world.

 

Chemicals/Pharmaceuticals: Some will associate the ancient Egyptian look with a high standard of beauty. While women no longer to aspire to Cleopatra heavy kohl-lined look, the pharmaceuticals and chemicals produced in Egypt are used today in cosmetics and beauty aids.

 

Agriculture/Food: Corn, wheat, rice, and select citrus fruits are among the foodstuffs traded throughout Europe and Asia.

 

In exchange, Egypt relies on trade partners for the following:

 

Refined Fuels: What Egypt ships out in crude, they import as refined fuel to keep the economy working steadily.

 

Wood: With much of the country claimed by desert, there are no large forests for wood production. Egypt imports on average nearly a billion dollars worth of wood products for furniture construction and other needs.

 

Machinery: Drilling equipment is especially needed in this country to keep up with the world's demands for oil. What Egypt cannot manufacture, they trade.

 

Food: Food accounts for nearly a fifth of the nation's overall imports. While Egypt's agriculture is growing, processed foods are often brought in through other countries.

 

Telecommunications: The need for communication has Egypt negotiating with countries who offer mobile service, phone, and computer technology.

 

Once the seat of civilization and now an emerging modern economy, Egypt has withstood centuries of strife and triumphs. With a firm hand in the oil economy, it's a safe bet the nation will continue to grow and influence trade partners.

 

Kathryn Lively
image courtesy of Wikipedia

When it comes to studying global trade, chances are if you’re American you don’t normally factor the United States into your statistics. International trade may imply to you foreign countries that deal with the US, but to these nations the US is a foreign country, and a very important player in global business. As the world’s largest manufacturer and the largest trading nation, the United States is responsible for importing and exporting a staggering $2.5 trillion worth of goods annually. While the majority of goods leaving the country are shipped to border neighbors like Canada and Mexico, the US looks to the East and Europe for bringing in materials.

The United States imports goods daily from top trading partners in Europe and Asia. From clothing to electronics to food and beverages, it’s a challenge to walk into any store and not find something imported from another country. Americans in particular are apt to spend their hard-earned money on the following imports:

• Automobiles and Auto Parts – Fuel-efficient compacts from Japan, luxury sedans from Germany, and sporty hatchbacks and sports utility vehicles from Korea are popular on American roads. What doesn’t come here whole is imported for US assembly plants.
• Video Accessories – Digital cameras, recorders, and peripherals are sought-after in the US, as interest in creating short videos for social media rises.
• Petroleum – While the US is known to export crude oil, the country depends on global trade for the majority of its petroleum based needs.
• Various consumer goods – articles for daily living, are delivered to the higher traffic ports to be shipped to department stores from east to west. Toys from assembly plants in China, furniture from Scandinavia, and pharmaceuticals from Germany fall into this category.

Top exported goods from the United States include:

• Food/Agriculture – The US is a nation that takes the maxim “Feed the World” literally! As one of the top global distributors of wheat and other grains, beef and pork, and dairy products, many dinner tables around the world are graced by meals with American origins.
• Aerospace/Aeronautical Supplies – The United States presently leads the world in airplane construction. If ever you hope an Aer Lingus to Dublin or British Airways to Liverpool, chances are you’re flying in an American-made jet.
• Steel – The industrial areas of Ohio, Pennsylvania, and Indiana are known for their steel production, though there are companies all over the country. The world knows the US as a major producer of this product, which is exported for manufacture.
• Automotive – Some might puzzle about this entry, considering the prevalence of European and Asian car manufacturers. In truth, the US retains a good percentage of automobile exports, with Chevrolet, Jeep, and Dodge and Ford among the more popular brands. Much of what is exported is used by militaries around the world.

Because the US dollar is the current most watched in international business, the strength and weakness of the American economy sets the stages for future events throughout the world. So long as Americans continue to purchase products, and maintain good relationships with trade partners, the country will continue to thrive and contribute well to the global economy.

The consumer who doesn't follow global trade trends is apt to believe the majority of imports to the United States come from Asia. While it is true that the Four Asian Tigers monopolize a good percentage of world supply chains to North America and beyond, a good number of everyday products and foodstuffs that we enjoy have origins in Europe. If you wear Adidas shoes, for example, or brew your morning coffee with a Braun espresso maker and enjoy the occasional Ritter Sport chocolate bar, you are strengthening Germany's export business.

 

If you've kept up on your world history, you are aware of the country's tumultuous history over the last century. Its borders have changed over time-the land was part of the Holy Roman Empire until the early nineteenth century, then split into eastern and western regions after World War II before reunification in 1990. These days, the Republic of Germany has settled into the role of a true economic force: as the fourth largest gross domestic product economy in the world, it ranks in the top three among nations in importing and exporting, and is considered an innovative source of new technologies in several industries. Nearly fifteen percent of the Fortune Global 500 companies have headquarters here.

 

Made in Germany: Top Exports and Products

 

Hear the phrase "good German engineering," and you're likely to think of cars. Manufacturers like Mercedes Benz, BMW, Porsche and Volkswagen supply quality automobiles and sport utility vehicles to the United States and throughout Europe, in addition to accessories and car parts that may be found in other makes and models. While the automotive industry benefits from German experience, it is not the industry in which this country excels. You'll find strong German engineering at work in the following sectors as well:

 

Chemical manufacturing: Germany is home to BASF, perhaps the largest chemical company in the world. BASF is a leader in production of plastics and polyurethanes used for making everyday household objects. Sustainable and biodegradable coatings and performance chemicals designed to increase eco-friendly awareness are also in development.

 

Pharmaceutical: Ever take an aspirin for a headache? That's a product with German roots as well. This over the counter drug originated with the Barmen-based Bayer AG, a leading pharmaceutical company. Subgroups of the corporation are responsible for the production of other medicines and hospital equipment.

 

Industrial machinery: Engines that power machines and vehicles, generators and pumps, and equipment designed specifically for mass transit are popular export products. The nation's expertise in production of civilian aircraft is evident in their major airline, Lufthansa, which is also the largest in Europe.

 

Other Top Brands of Deutschland

 

What else are you apt to find in your closet, pantry, or purse that's made in Germany?

 

• Birkenstock: durable sandals and shoes known for their cork soles
• Steinway and Sons: well-known maker of pianos and musical keyboards
• T-Mobile: popular wireless phone provider
• Faber-Castell: top manufacturer of office supplies, pens and pencils
• Nivea: producer of skin care and beauty products

 

This fertile land that hearkens to imagery of Oktoberfest and emotional Beethoven sonatas operates as a major player in global trade. With an overall high quality of life supported by a strong social security system and plentiful employment opportunities, Germany is likely to remain strong for centuries.

One unfamiliar with the Republic of Korea, or South Korea as it is more commonly known, may immediately associate the country with its short yet significant war against its neighbor to the north in the 1950s. More than half a century later, South Korea stands strong as one of the powerful Asian Tigers in the global trade arena, a presidential republic presently ranked among the top ten exporters in the world. With over 300 billion dollars of export revenue recorded in 2009, this tiny country does an enormous business in technology and transportation industries that effect how the world moves and works daily.

 

The Miracle on the Han River

 

Once a destitute area held under Japanese imperial rule, then split from North Korea after World War II, South Korea underwent major growth beginning in the 1960s through rapid industrialization and democratization. Through drastic measures that included conservative spending of government budgets, improvement of education, and expansion of agricultural mechanization, South Korea saw an impressive rise in their gross national product over the next thirty years. By 1989, the country prepared to enter the next decade with an impressive GNP of over 200 billion dollars, 68 times the total from the early 1960s!

 

 

Today, this complete free democracy is known as one of the top exporters to the United States, particularly in the technology and automotive sectors. If you own a Hyundai Elantra or Accent, you are driving a South Korea import. In fact, you may have a number of items in your home or office that come from this emerging Asian economy.

 

• Flatscreen Televisions: as the world's largest manufacturer of LCD, OLED, and plasma screens, South Korea keeps up with the growing global demand for high definition television. The Samsung Group, maker of the popular brand, is based in Seoul.
• Automobiles: Not only is Hyundai the top automaker in South Korea, it is the second largest car manufacturer in Asia, and presently one of the top companies in terms of actual cars sold. Other makes originating from this country include Kia and Daewoo.
• Shipbuilding: The materials needs to build the ships that carry cargo for global trade are made in the ports of this country. South Korea is perhaps the largest provider of the raw steel and other items needed to keep maritime commerce running smoothly.
• Mobile Communication and Electronics: Do you own an LG phone? If so, you own a product from this country's second-largest telecommunications company. This multi-faceted business also produces popular electronics, including DVD and Blu-Ray players, Flash memory drives, and laptops.

 

It may surprise you to realize that many household items you feel you cannot do without come not from Japan or China, but this major economic giant. Given their amazing growth over the latter half of the twentieth century, and higher projected numbers in the decades to come, one might expect South Korea to eclipse her neighbors in the IT industry. So long as the global demand for faster and quicker ways of communication remains high, it's safe to bet the telecom conglomerates of South Korea will emerge to the forefront of new innovations.

 

For centuries Hong Kong has been known for its desirable coastal location, and to this day it is regarded as one of the world's top bases in the financial world. Highly populated with currency that is traded worldwide, Hong Kong enjoys low taxes and free trade in a variety of industries. The success of this region in business is due partly to a healthy economy fueled by exports, with mainland China, Japan, and the United States serving as their major buyers. Businesses interested in acquiring quality product at a good price often look to Hong Kong to stock their inventories.

 

 

When layman thinks of Asian exports to the United States, one is likely to assume the majority of products shipped into American ports are electronics and computer-related. It is true that in 2007 this region shipped over half a billion dollars' worth of telecommunications equipment, computer accessories, and similar items, yet Hong Kong provides the world much more. Hong Kong doesn't necessarily limit trade to the United States, either: in 2009, the region ranked third among trade partners with China, and accounted for nearly three percent of total global exports among the leading manufacturing nations.

 

In 2009, Hong Kong's gross domestic product (GDP) enjoyed a growth rate of 2.4%, with the total value of their goods and services trade equivalent to more than 400% of their GDP. Presently, their GDP is worth over 200 billion dollars of the overall global trade economy.

 

Everyday items in your home, and the materials needed to make them, might have just come from Hong Kong.

 

• Precious Metals - The demand for gold and silver is always strong, and those who specialize in bullion trading are looking more to Hong Kong for these types of currencies
• Ferrous Alloying Materials - Such raw metals, which are iron-based, are sought after for their flexibility and durability. Importers seek un-manufactured stainless steels, cast irons, and carbon steels in bulk which are then shipped to domestic plants to create household items or construction goods.
• Food Processing Machinery - Hong Kong is hardly an agricultural region, yet the equipment they produce is used to help companies around the world process and package foods.
• Hair - While an unusual product to consider exporting, demand for hair from Hong Kong is rising steadily since 2006. Hair is used for wig and toupee production, hair and braid extensions, and similar pieces.

 

Of the "Asian Tigers," powerhouses of the East in global trade, Hong Kong is one worth watching if you rely on foreign trade for the success of your business. For importers, this region represents one of the most financially secure in the world, with millions of dollars monthly exchanged in various goods. Connecting with Hong Kong companies through a reliable global trade site or supply chain network can put you in touch with the product you need at a cost that suits your budget.

For retail entrepreneurs preparing to launch businesses - whether online or via a brick-and-mortar model with a limited reach - the question of where to obtain inventory is perhaps the most important. How you structure your business model and pricing, delivery and return policies often depends on the merchandise you offer and the means by which you obtain product. A bold step into the world of global trade networking is one way you can build contacts in your line of work, and gain trust among customers and clientele searching for quality materials and a reputable provider.

 

Why Consider Global Trade Options?

 

These days, people want to support local businesses. They may patronize the "mom and pop" convenient store over the chain grocer, and have dinner at the neighborhood pizzeria as opposed to the national brand restaurant. As an entrepreneur, you have a vested interest in earning a profit from retailing your inventory, and to survive among corporations with the ability to undercut competitors you must be able to provide goods at a comparable price. The key to your success lies in finding the right product.

Networking with international based manufacturers and suppliers can benefit your business model:

 

Good Merchandise: Yes, we do tend to joke about products made in certain countries being of questionable quality, but in truth global manufacturers are capable of producing strong merchandise at affordable wholesale cost. Not everything is made in Taiwan or China - you'll find a wealth of companies in Africa, South America, and other parts of Asia willing to network with you.

Quantity You Can Afford: When it's necessary to buy in bulk, you can negotiate to keep costs down with global suppliers. This in turn allows you to resell at a price that satisfies the customers and maintains a decent profit margin.

Drop-Ship Opportunities: When you are ready to broaden your reach, working through international suppliers can increase your ability to ship to worldwide destinations without incurring massive shipping costs. Depending on your connections, you may work directly with wholesalers to grow your retail trade.

 

Meeting the Right People for Your Business

 

With the Internet, communicating with suppliers on the other side of world heightens a greater sense of real-time networking. Search for and register with specialized portals and forums dedicated to global trade and supply chain management, and forge contacts through social networks like LinkedIn to secure the deals that keep your retail business booming. Don't be afraid to negotiate for the price and materials you want - be it food, art, antiques or clothing. The more you network, you'll find suppliers are willing to compromise to secure your business. This in turn fills out your inventory and makes for better opportunities in sales and profits.

Think about your business and your goals for the future. If you are working to build a successful retail shop or online marketplace of goods, it's logical to want the best wholesale costs on the items you plan to sell. As you scout your competition and compare inventories and prices, you know the importance of working with a reputable supplier. Finding the right one doesn't need to result in headaches, either, if you know where to find good contacts.

Networking Through Global Supply Chain Forums

To grow your business with quality inventory, it's necessary to connect with suppliers willing to offer you a fair price for product. If you operate a home design firm, for example, you can search online for websites of international companies that provide antiques, art, and other essentials, yet you may find your best interest lies in networking through a global trade forum. The ease of use will save you time, and provide you with legitimate contacts and fewer dead ends.

 

Advantages to registering with a trade and supply forum include:

 

• User Screening. Good forum management will determine which applicants are legitimate and suitable for networking.
• Detailed Profiles. In one space, you'll have access to thousands of suppliers and information on available products and services, location, and terms. You won't have to scour the Internet for the data you want.
• Real-Time Interaction. With some forums comes the opportunity to network immediately with suppliers. Live chat and instant messaging are two features to look for when you register in supply chain marketplaces.
• Greater Exposure. As you join global trade sites, you make it easier for businesses to find you. This in turn could lead to valuable connections in the future.
• Low Investment. You might thinking joining such a forum is an expense that won't pay off in the long run, but in truth many networks offer free basic subscriptions, with premium services offered at reasonable rates.

Whether you are new to trade or wish to broaden your horizons, taking advantage of membership in a real-time trade forum with international reach can help you find the product for your business at good cost. Increase your profit margin and solidify trust among your customer base and with global business connections.