CUSTOMS DATA Meaning and
Definition
-
Customs data refers to the information and documentation collected and recorded by customs authorities regarding the movement of goods and services across international borders. It includes various details and statistics related to imports, exports, and the movement of goods through customs checkpoints.
This data is systematically collected by customs agencies to fulfill regulatory requirements, monitor trade activities, and assess the economic impact of international trade. It typically includes information such as the description and value of the goods, country of origin, destination, quantity, weight, mode of transportation, and names and addresses of the importers and exporters involved.
Customs data plays a crucial role in trade facilitation, risk assessment, and compliance enforcement. It enables customs authorities to ensure the proper classification, valuation, and origin of goods, as well as to detect potential smuggling, revenue evasion, and illicit trade. Moreover, it aids in assessing and enforcing trade agreements, tariff policies, and import/export controls.
The accessibility and availability of customs data have significantly improved with advancements in technology and the establishment of electronic customs systems. This data is often shared or exchanged between customs administrations, international organizations, and other stakeholders involved in trade-related activities. Researchers, policymakers, businesses, and market analysts also utilize customs data to assess market trends, perform business intelligence, and make informed decisions based on trade statistics.
Common Misspellings for CUSTOMS DATA
- xustoms data
- vustoms data
- fustoms data
- dustoms data
- cystoms data
- chstoms data
- cjstoms data
- cistoms data
- c8stoms data
- c7stoms data
- cuatoms data
- cuztoms data
- cuxtoms data
- cudtoms data
- cuetoms data
- cuwtoms data
- cusroms data
- cusfoms data
- cusgoms data
- cusyoms data
Etymology of CUSTOMS DATA
The word "customs" originally comes from the Latin word "consuetudo", which means "habit" or "custom". In medieval Latin, the term "custuma" referred to a customary due or tax paid on imported or exported goods. Over time, "customs" came to refer to the government agency responsible for collecting such duties and regulating the flow of goods across borders.
The word "data", on the other hand, originates from the Latin word "datum", which means "something given" or "a fact or information". In modern usage, "data" refers to factual information or statistics that can be collected, stored, and analyzed.
So, when these two words are combined, "customs data" refers to the information, facts, or statistics related to the importation or exportation of goods and the associated customs duties or taxes.
Infographic
Add the infographic to your website:
