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What is Business Statistics?- Definition, Importance, Tools, and More

by The Digital Trendz
What is Business Statistics?- Definition, Importance, Tools, and More -2021


Business Statistics is the European Union’s statistical office and collects all the Member States’ statistical offices’ data.

And also, Its portal offers free access to almost all its data and publications, grouped and categorized by topic.

It is possible to consult, among other things, statistics by subject and publications

Statistical books – flagship publications, Eurostat yearbook, regional yearbook, manuals.

And also, guides – working papers – working papers-  statistical reports, brochures or explained statistics).

Access restricted to microdata (records containing information about individuals, households or business entities), as well as data download and validation.

Another Eurostat service, which also adds value to institutions and companies, is GISCO (the Commission’s Geographic Information System).

It is responsible for meeting the geographic information needs of the European Commission at three levels.

The European Union, its member countries and its regions.

And also, In addition to creating statistical maps and other thematic maps.

It manages a geographic information database and provides the Commission with services related to its activity.

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What is the Importance of Business Statistics?

These statistical data are used by governments to monitor business and industrial performance and support economic policy development.

The information that it also makes available to companies allows them to plan market shares and estimate imports or exports and develop internationalization plans.

It will also enable them to analyze the competition and the market penetration of competing companies, etc.

And also, As indicated on the website of the INTRASTAT Spain community, among the institutions.

The statistics are the European Commission, the European Central Bank, National Banks, insurance entities, research institutes, business confederations, transport companies etc.

What are the Tools of Business Statistics?

  • Consult the details of the exchange of imports and exports of Argentina, Brazil, Chile, China, Colombia, Panama, Peru, Uruguay, Venezuela and the European Union.
  • And also, Know the average prices of sale or purchase in these markets.
  • Identify suppliers, clients, competition, freight, customs taxes and much more, in an easy and fast way, according to the variables available in each country.
  • Generate weekly statistics for Colombia with the most recent information on import and export movements.

What are the Management reports of Business Statistics?

  • Generate managerial reports, which through a graph and an interactive table allow analyzing all the detailed information of individual countries’ exports and imports.
  • Make detailed or consolidated import and export queries without having to download to Excel.
  • Group by company, product, country, customs agent, customs and department, among other variables, the table of results of a query on foreign trade operations.
  • And also, Organize the columns in the results table according to the query needs.
  • Order the table of results from lowest to highest and vice versa for each numerical variable.

What are the Statistics of Imports and Exports?

The Business Statistics module allows you to carry out from general analysis to a particular one.

It can know the details of the exports or imports of a country, Department, Customs, and entry or exit place.

The detail of what you buy or a company sells abroad clients and suppliers, the freight it paid, the customs duties it cancelled, the carrier that moved the cargo

What are the Sectors of Business Statistics?

The International Trade Centre (ITC) helps the production and service sectors by connecting companies to market opportunities.

Strengthening value chains and supporting the business environment to improve the sector’s performance.

And also, Our goal is market-oriented development.

The core of our strategy is the strengthening of the favourable environment.

The development of the sectors to compete successfully in domestic, regional and international markets.

By helping companies in developing countries improve what and how to extract, produce and sell.

And also, We improve livelihoods and promote business, social and environmental sustainability.

A.      Agro-food trade

ITC works to create sustainable agricultural exports and strengthen intra-regional trade.

In 2012 alone, agri-food farmers, communities and businesses in 23 of the least developed countries.

The small island developing states increased trade and income-generating capacity by 10-20% on average.

And also, ITC’s interventions are driven by market demands, ensuring sustainability.

We help companies meet market needs by updating value chains and facilitating linkages between sellers and buyers.

B.      Manufactured goods

ITC helps companies and organizations develop skills to take the manufacturing.

And also, production of textiles and clothing a step further, create intellectual property.

Harness the growth potential offered by the pharmaceutical and food sectors leather.

C.      Exports of services

Despite strong world growth, services exports do not reach 25% of the volume of world exports.

And also, Very few developing countries are taking advantage of the new opportunities offered by services.

Companies and governments do not have access to data related to services or are not aware of the factors that impact competitiveness.

ITC works with countries to develop the three clusters of service-related industries.

And also, include tourism, transportation/logistics/distribution business services, and information technology.

D.     Environmental exports

ITC works to stimulate Fair Trade and environmentally friendly exports from developing countries.

And also, including exports of cultural, ethnic and organic products.

ITC also supports biodiversity, enables exporters to adapt to climate change, and aims to increase green technologies.

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