5 Highly Profitable Import Export Business Ideas

When preparing your export import plan,one of the most important decisions to be made is the product that you will offer to your customers. In case a product does not have enough demand on the market, your business could turn into anon-profit one, regardless of the good's selling price or potential profit margin.

Today there is a wide range of product opportunities in the marketplace, but we must admit that not all of them seem to stand out and thus being more profitable than the rest.

The top five most profitable business ideas include those that deal in the following products:

• Technology Accessories– Undoubtedly electronics are set to be hot sellers, but it is the technology accessories that go along with the latest laptops, smart phones and other gadgets. These gadgets are highly profitable and they can be just bought wholesale at pennies on the dollar and then resold to the end user at retail price.

• Smart Phones – Smartphones may appear to be popular sales items in the marketplace. Many developing countries are becoming now prime targets for smartphone makers. It is not so expensive to produce this type of technology – especially if you can find export opportunities in China for these products.

• Accessories for the Home – When it comes to profitable export import business, home accessories is another idea that is booming in the market. Home improvement is something people have long enjoyed home décor and home furnishing stores have been experiencing tremendous growth in the last decade. Accessories for the home include anything from picture frames to soap dispensers. Most items for the home decor are easy to manufacture and they can be shipped and sold in wholesale packages.

• Beauty Products– Beauty and skin care products business is booming in many countries of the world. These products can be imported at a reduced price overseas and resold at considerably high markups. Regardless of the economic climate, these products typically are purchased regularly.

• Outdoor Games– This may come as a surprise to many of you, but outdoor games can be big and profitable sellers. This is due to less competition in the marketplace.

The Development of Seaweed Industry in Indonesia

Seaweed’s surge in popularity across the world spells good news for Indonesian farmers. Seaweed is a major source of income for tens of thousands of small Indonesian farmers, as well as collectors, traders, exporters, and producers. It is a key ingredient in medicines, cosmetics and foods such as cheese, among many other products.

   Popular in Asia, where the vast majority of the world’s seaweed is grown, seaweed farming has proven, in parts, to be a more lucrative and reliable source of income than fishing. If the weather is good, seaweed can be harvested after 45 days, then dried for four days on tarps in the sun before being bought by brokers, who ship the supply to Surabaya to be further processed before being exported as part of the $6-billion global seaweed industry.

   With an abundance of tropical waters and one of the longest shorelines in the world, Indonesia may soon find seaweed to be its most lucrative marine resource, spurring islanders out of poverty. With an alternative source of income for overfished coastal communities, where farmland is degraded and increasingly scarce, the islanders of Nusa Penida are showing that perhaps it is time to take farming to the sea.

   It should be noted that Indonesia, a maritime country having the world’s second longest coastal line, has very big potential in the production of seaweed.

   Today the country is the world`s biggest dried seaweed exporter with its annual exports reaching 145,000 tons. The main export destinations include Asia, Europe, America, Australia, and Africa. Beside Indonesia, other tropical countries which export dried seaweed include the Philippines, which contributes 35 percent of the total tropical countries’ exports of dried seaweed.

   Seaweed is in very high demand in the international markets. Seaweed is also good fertilizer and is currently under consideration as a potential source of bioethanol.

The European Microstates and their Exports

Few people know much about microstates, though millions visit them each year. The European mictostates, all have mature service economies, and most have have very little heavy industry or agriculture.

Economically, the microstates are urbanized and rely heavily on exporting and tourism. Although originally the microstates had poor agricultural economies, they now have “mature service economies, and most have very little heavy industry or agriculture.” The small population of the microstates pushes them to look toward exporting. The tiny nations of Europe are so small that their native populations usually do not provide a market large enough for their own industries' products.When the world hit the era of modernization, the microstates each found one industry to specialize in, which transformed them into modern countries.

Consequently their major products are usually their major exports as well. For example, Liechtenstein, Luxembourg and Malta export specialty machinery. Thus Luxembourgs' steel industry supplies the world's builders with extra strong iron. Malta and Monaco export glassware. Andorra exports tobacco and furniture. Liechtenstein exports dental products (especially false teeth). San Marino exports building stone and food. As to Monaco, the countries main export products are cosmetics pharmaceuticals. Only Vatican City is prohibited by law from exporting any goods. The Vatican is too small to manufacture anything on its own. Anything that could be exported, would be"transshipped" imported goods from Italy and since goods coming into the Vatican from Italy are not taxed, but goods sold in Italy are , reselling them could easily be profitable. Precisely to prevent this, when Italy signed the treaty establishing the Vatican, all exportation was prohibited except by special permission. Needless to say, Vatican City must import all products consumed there. Similarly, except for the few products, that they can export, all the other microstates, import the rest of the items they consume.

It should be noted that all these states are currently attempting to diversify their exports so that they are less dependent on one export.

Tourism naturally became a strong industry for the states; however, most people only visit the microstates for a day and leave in the evening so it is a different type of tourism than in the rest of Europe. To encourage emigrating companies, the microstates offer tax breaks and low.  

5 Most Profitable Products to Import from Thailand

Thailand is a newly industrialized country. Its economy is heavily export-dependent. Its exports account for more than two-thirds of its GDP. Nowadays the country is home to a broad range of profitable, low-priced, and innovative products for international retailers,importers and wholesalers. The main export destinations are the rest of Asia and the US.

Here are the top 5 products to export from Thailand.

1. Gems & Jewelry

Thailand is famous for its amazing designs, manufacturing and craftsmanship. The country is one of the top exporters of gems and jewelry. The products are often showcased to the regional and international markets. The most popular fair is the Bangkok Gems and Jewelry Fair, which is held twice very year.

Whether you are looking to get your own gems or precious stones cut and designed, consider Thailand as the best place to get jewelry due to its low labor costs and skilled craftsmen.

2. Thai Silk

Thailand is famous for its fine and high-quality fabric, which is hand-woven, making it extremely unique. Its supple lightness have historically had more prestige and value than gold.

The use of Thai silk is vast as it is used can create magnificent and beautiful decoration and handicraft coverings, sheets and of course clothing.

3. Food & Beverage

Having an aim to become the ‘Kitchen of the World’, Thailand is one of the top exporters of canned/frozen foods and ready-to-eat meals. The country offers tasty, high quality, and inexpensive foods, having a competitive advantage in food-processing technology.

Apart from meals, there are plenty of exotic fruits, vegetables and beverages that Thailand has to offer the international buyers.

4. Artificial or Fresh Flowers/Orchids

Thailand is populated with a wide variety of fresh and artificial orchids. The range of colors, designs, and styles make orchids a very popular and sought-after item. Fresh flowers are specially wrapped with a water source when shipping to international destinations and can last at least a week in containers till they reach their target market.

These beautiful flowers are quite inexpensive and are often used for decorations, wedding ornaments or simply livening up your gardens.

5.Spa & Cosmetic Products

Today Thai cosmetic and spa industry is booming and it is gaining popularity overseas. There is a huge recognition for products that follow health and safety standards. The quality of the products has improved, while prices remain relatively the same. Herbs such as extracts from lemongrass, turmeric, and mangosteen peel in particular have high potential for export. The Health and Beauty Show are attended by a great number of internationals buyers every year.  

How Vietnam Became a Coffee Giant

Think of coffee and you will almost certainly think of Brazil, Colombia, or maybe Ethiopia. It might surprise you but nowadays the world's second largest exporter is Vietnam. The country is actively exporting coffee, which grows in large areas. Its market share managed to jump from 0.1% to 20% in just 30 years. How have these rapid changes affected the country?

The Vietnam war ended in 1975, and economic policies introduced by the government at that time did nothing to help.

Collectivizing agriculture proved to be a disaster, so in 1986 the Communist Party placed a big bet, on coffee.

Coffee production grew considerably by 20%-30% every year in the 1990s. Today the industry employs about 2.6 million people. Coffee beans are grown on half a million smallholdings of two to three acres each.

As we see this reform proved to be highly successful. It helped transform the Vietnamese economy. For instance, in 1994 60% of Vietnamese lived under the poverty line, today less than 10% do.

The Vietnamese traditionally drank tea, like the Chinese, and still do," says Vietnam-based coffee consultant Will Frith.

Vietnamese people do drink it - sometimes with condensed milk, or in a cappuccino made - but coffee is mainly grown as an export crop.

Coffee was introduced to Vietnam by the French in the 19th Century and a processing plant manufacturing instant coffee was functioning by 1950.

Some big companies, like Nestle, have their processing plants in Vietnam, which roast the beans and pack it.

Thomas Copple, an economist at the International Coffee Organization in London, says most of the crop is exported as green beans and then processed in other countries, in Germany for example.

Some local entrepreneurs in Vietnam are planning to set up an international chain of Vietnamese-style coffee shops.

"We want to bring Vietnamese coffee culture to the world. It isn't going to be easy but in the next year we want to compete with the big brands like Starbucks," Chairman Vu says.

"If we can take on and win over the US market we can conquer the whole world."

FOUR EDIBLE CROATIAN EXPORTS

    It is not surprise that some of Croatia's most famous exports are edible, as the country prides itself on the quality of its cuisine. If you find Croatian products, try to get your hands on them, as sometimes they might be difficult to find.

Olive oil

    The world's top olive oil producers are considered to be Spain, Italy and Greece. But Croatian olive oil might be at the top of the list in purity. It is a little known fact that some of the most famous olive oil brands in Italy sell a mixture of olive oils from Europe and Africa. Croatian olive oil is 100% pure, made from olives grown in the country, very often in centuries- old olive groves.

olive oil production are part of everyday life for Istrians and Dalmatia, and are often a family tradition stretching back generations.

Chocolate

    Croatia may be not known for its chocolate, but it can offer a lot to fans of chocolate.

    Although small compared to its European competitors, the chocolate industry of Croatia wants its share of chocolate cake. They do so by adding regional groceries to original recipes, and offering a unique taste which will surely be remembered by curious visitors and tourists. For instance, Croatian chocolatiers Nadalina and Deliiicije are known for dreaming up unusual flavor combinations by using local ingredients, such as sea salt, lavender and olives.

Truffles

    Istria is a boon for truffle lovers. Its soil is rich with one of most coveted and priciest culinary delights in the world. The country's largest exporter of Istrian truffles is Zigante Tartufi. In 1999 the company's owner Giancarlo Zigante, along with his dog Diana, found the world's largest truffle in Istria, weighing 1.31kg. The truffle even entered into the Guinness Book of World Records.
At Istrian restaurants truffles are served up in a slew of different ways: on pastas, dusting chocolate-filled potato dumplings, in polenta.

Wine

    Croatia has emerged with strong, unique wines that define the diversity of their nation and showcase their centuries of viticulture. Its internationally recognized wines certainly belong to some of the best wines in the world.

    In 2012 Croatian wines has won a total of 65 awards at the Decanter World Wine Awards in London. Plavac became a favorite among American wine bloggers.

In the early 21st Century, Croatia remains a significant wine-producing nation, even if it lacks a developed export market.