WJ
@Wjyun
10 points

WJ Yun

Last activity 2 years ago

Signed up 2 years ago

WJ
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WJ

The keys to any export business are market research, and sourcing cheap suppliers and finding prospective buyers, and it is always better to have more suppliers and buyers on your list. Since I do not know your target products, let me give you a general answer.

In order to find the profitability of target products, you first need to examine the supply of the target products in the UAE. What products are high in demand? Once you decide the target product, you need to find suppliers in overseas and buyers in the UAE.

For instance, rice is one of the biggest import products in agricultural and food sector. The United Arab Emirates is the fourth largest importer of rice with import value of $851M. As you can see from the map below, the top exporters of rice to the UAE are India and Pakistan, with export value of $655M and $131M in USD respectively. You are likely to find rice suppliers to the UAE from these countries.

*Note: the top exporting countries of rice to the UAE

Many people in trading business explore the internet, Googling for suppliers and buyers out there. These days, there are many online platforms with a huge database of product real-time market trends and profiles of suppliers and buyers. I recommend you utilize these online platforms rather than browsing through Google as many of the suppliers’ and buyers’ websites and profiles are not up-to-date.

One of such useful online platform is Tridge. Type in your target product and see list the suppliers. Below is an example of rice suppliers listed on Tridge platform.

There are 14,965 registered suppliers of rice, and many of them come from India, Pakistan, and United States. You can also check what other products these suppliers provide. With the variety of options, you can compare and find the supplier with the best offer.

With more suppliers and buyers you have on your list, you can minimize the risks and optimize the profit.

Other Questions:

There are other points you have consider.

  • How would you raise funds? Banks? Angel investors?
  • What are import and export regulations for each country/product?
  • How are you going to market your business?

But most importantly, the key to any export business is sourcing suppliers and finding buyers, and it is always better to have more suppliers and buyers on your list.

Have a visit at Tridge platform to find out real-time market trend of your target products, and prospective suppliers and buyers across the world.

WJ

Are you looking for import/export statistics such as import value/export value, market shares, growth rate, etc? If so, have a visit at Tridge platform for real-time information of the import/export products in China.

Below is an example of soybean import/export in Thailand.

*Note: trade (export/import) flow of soybeans in China

Have a visit at Tridge platform to have detailed data on import/export trade in Thailand.