Statistics on international trade: how to access them

Digitization has enabled globalization to enter a new phase. Data flows make this possible. Data flows open up new possibilities for trade, innovation and productivity growth.

Data can be an investment that improves productivity, innovation, or trade

Data is the engine for innovation and can help drive productivity growth. Today, half of the world's population can be found online. Global internet traffic is expected to grow by 17% between 2005 and 2021. 5G will enable the "internet-of-things," also known as IoT, to become a reality. This will result in a threefold increase of global internet traffic by 2021.

Global data flows include US trade data and are the backbone to the global value chain (GVC) and can open up new markets for international trade. Businesses can make use of the global internet and data flow to promote their products.

Data mobility is crucial for the development and expansion of new business models. It allows for international collaboration and research. International E-commerce accounts for around 12 percent of all global goods trade. International trade can be a lucrative business opportunity for small businesses. These companies are globally present and can offer embedded services, such as logistic support or financial payment. E-commerce is becoming more popular. This is especially true for professional, educational, and financial services, as well as information technology (IT). 

Traditional goods can also be exported using digital technologies. Data from sensors used in farming and mining equipment can be used by businesses to improve operations and increase the worth of their equipment.

Data flow restrictions are getting more severe

Regulators and government officials must decide how to maximize the benefits of digital technology while adhering to national regulations. Global data location has seen a significant increase.

There are many options to restrict data flow. There are many options to limit data flow. There are two types: data restrictions that restrict data transfers beyond national borders, and data restrictions that allow data to be transferred across borders but require that a copy is kept in the country. Data transfers can be restricted beyond the borders of the country. Data flow restrictions are a common part of many measures to localize data.

You may want to restrict data flow and keep it localized for many reasons. Privacy regulations are one reason. It is crucial to ensure that data does not flow to countries with lower privacy standards. This could lead to the loss of privacy protections. Data may be required by authorities for regulatory purposes. This is particularly true for the financial sector. To fulfill their regulatory responsibilities, financial regulators need to be able to access local financial information.

Data should be kept locally as part of cyber security. Cyber security is all about localization. This reduces the risk of unauthorized access and makes data storage more feasible locally. Data flow restrictions can limit access to internet-based content. This can be done to fulfill religious, moral, and/or political purposes. Learn more about  UsCustoms Data.

The WTO Commitment supports digital commerce and allows for legal regulation

Trade regulations are crucial because they allow digital commerce to take place and also limit government regulations that might hinder it. Before the advent of the internet, the World Trade Organization (WTO), was created.WTO rules still govern digital trade. It is vital that the General Agreement on Trade in Services (GATDS), which is an important component of the growing importance of services trade, is in place. WTO members who have agreed to deliver services must also allow data to be transferred across borders if required.

GATS national treat obligations may not be compatible with data localization measures that place a burden on foreign service providers by requiring local presence. WTO members might suggest that a data localization measure that is compliant with the GATS Article XIV exemption provision is necessary to allow for an unlimited number of exceptions to public policy.