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Overview

Throughout MIC, specialists of all areas take care of your company’s needs and concerns: 

From the preparation of a customized customs and trade compliance software package to the implementation and integration of MIC’s GTM Suite with existing company processes and systems. From professional support during the starting phase to application support, customized software adaptations, technological maintenance in conformance with the law, as well as 24/7 service around the world.

But we offer more!

Currently there is no data source from which up-to-date trade content such as export control commodity lists, exchange rates, code lists (e.g. customs offices), customs tariffs and much more information can be centrally obtained in appropriate quality on a global scale. It is common that you may have to consult many different data sources individually and manually in order to collect the necessary information for the individual transaction. This costs time and money. 

In order to overcome such difficulties, we offer a Global Trade Content Service (GTCS), suitable to companies in any industry.

Professional Services

Discover our professional services! Our specialists take care of the concerns of your company. For software development, project management as well as support and maintenance our qualified employees are at your disposal.

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Global Trade Content Service

You want a central service that provides you with up-to-date trade content? This is exactly what our Global Trade Content Service (GTCS) delivers, one single interface for automated updates and a controlled population of up-to-date trade content. 

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China reports big rise in imports and exports as its economy bounces back

Imports and Exports | | MIC Customs Solutions |

China has reported a year-on-year increase in exports of almost ten per cent and a growth in imports of more than 13 per cent for September.

 


China has enjoyed a quick return to growth after the hit to its economy caused by the coronavirus earlier this year, with rises in both imports and exports contributing to its success.

Customs data revealed exports were up by 9.9 per cent year-on-year in September, up from a 9.5 per cent increase the previous month.

Meanwhile, imports for the month of September grew 13.2 per cent year on-year, far exceeding analysts' expectations for a rise of just 0.3 per cent.

China's biggest trading partners for imports included Taiwan and the US, which saw increases of 35.8 per cent and 24.7 per cent respectively. This helped drive the country's trade surplus for September down to $37 billion, compared with $58.93 billion in August and lower than an expected $58 billion. 

Customs data revealed key imports for China in September included soybeans, grains, semiconductors, copper and steel products, with all these categories seeing increases. Analysts expect imports to continue on an upward trend, driven by strengthening domestic demand.

Zhang Jun, chief economist at Morgan Stanley Huaxin Securities, added that China's import strength had been boosted by the phase one implementation of the US-China trade deal, as well as the resumption of logistics services in the United States and Europe.

When it comes to exports, China has been able to benefit from reduced manufacturing capacity in other countries as a result of the pandemic, which has allowed Chinese firms to increase their market share as the global economy reopens.

However, some analysts have suggested exports could be nearing their peak as demand for Chinese-made personal protective equipment wanes.

Senior China economist at Capital Economics Julian Evans-Pritchard commented: "The big picture is that outbound shipments remain strong, with easing demand for Covid-19 related goods such as face masks being mostly offset by a recovery in broader demand for Chinese-made consumer goods."
 


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