Import and Export News-2024-09-28- Waymore Tools

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Today's news:

Australia's foreign trade surplus increased by 10.76% month-on-month.

The number of overnight tourists in Italy rose by 9.5% year-on-year in 2023.

Bahrain announced the implementation of the world's lowest corporate tax system.

Denmark's industrial production saw a 7.3% year-on-year increase in July, marking a new high.

US online sales grew by 7.5% year-on-year in the first seven months of the year.

Egypt launched a 50 billion Egyptian pound tourism support plan.

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Today’s exchange rate:

1 USD = 7.0013 RMB

1 EUR = 7.8074 RMB

1 GBP = 9.3959 RMB

Today's Insights: 99 commonly used English abbreviations for import and export business

FOB - Free on Board Prices

CIF - Cost, Insurance and Freight

EXW - Ex Warehouse Prices

CNF - Cost and Freight, without Insurance

MOQ - Minimum Order Quantity

OEM - Original Equipment Manufacturer

ODM - Original Design Manufacturer

ETA - Estimated Time of Arrival

ETD - Estimated Time of Departure

ROHS - Restriction of Hazardous Substances

CE - Conformité Européenne

FDA - Food and Drug Administration

ISO - International Organization for Standardization

VAT - Value Added Tax

COO - Certificate of Origin

B/L - Bill of Lading

Incoterms - International Commercial Terms

L/C - Letter of Credit

DDP - Delivered Duty Paid

DDU - Delivered Duty Unpaid

T/T - Telegraphic Transfer

SWIFT - Society for Worldwide Interbank Financial Telecommunication

HS Code - Harmonized System Code

POP - Proof of Product

EIN - Employer Identification Number

EORI - Economic Operator Registration and Identification

SKU - Stock Keeping Unit

DAP - Delivered at Place

DBA - Doing Business As

FTA - Free Trade Agreement

GSP - Generalized System of Preferences

AQL - Acceptable Quality Level

B2B - Business to Business

B2C - Business to Consumer

C/O - Certificate of Origin

MOA - Memorandum of Agreement

NDA - Non-Disclosure Agreement

OEM - Original Equipment Manufacturer

ODM - Original Design Manufacturer

RMA - Return Merchandise Authorization

SRP - Suggested Retail Price

TQM - Total Quality Management

VMI - Vendor Managed Inventory

SKU - Stock Keeping Unit

QC - Quality Control

MOU - Memorandum of Understanding

GPS - Global Positioning System

CRM - Customer Relationship Management

RFQ - Request for Quotation

KPI - Key Performance Indicator

ROI - Return on Investment

IQC - Incoming Quality Control

OQC - Outgoing Quality Control

R&D - Research and Development

BOM - Bill of Materials

ERP - Enterprise Resource Planning

SIOP - Sales, Inventory and Operations Planning

RFID - Radio Frequency Identification

CSR - Corporate Social Responsibility

P&L - Profit and Loss

HRM - Human Resource Management

JIT - Just In Time

LCL - Less than Container Load

FCL - Full Container Load

MRP - Material Requirements Planning

OEM - Original Equipment Manufacturer

ODM - Original Design Manufacturer

TQM - Total Quality Management

VMI - Vendor Managed Inventory

PPT - Proforma Invoice

BRC - British Retail Consortium

COD - Cash on Delivery

CPT - Carriage Paid To

CIP - Carriage and Insurance Paid To

LTL - Less than Truckload

CFR - Cost and Freight

DDP - Delivered Duty Paid

DDU - Delivered Duty Unpaid

EDI - Electronic Data Interchange

EFT - Electronic Funds Transfer

ETA - Estimated Time of Arrival

FTA - Free Trade Agreement

L/C - Letter of Credit

NDA - Non-Disclosure Agreement

OEM - Original Equipment Manufacturer

ODM - Original Design Manufacturer

RMA - Return Merchandise Authorization

SKU - Stock Keeping Unit

T/T - Telegraphic Transfer

VMI - Vendor Managed Inventory

AQL - Acceptable Quality Level

B2B - Business to Business

B2C - Business to Consumer

GSP - Generalized System of Preferences

NDA - Non-Disclosure Agreement

AQL - Acceptable Quality Level

PPI - Pre-Production Inspection

ISO - International Organization for Standardization

B2B-Marketing-Calendar-2024

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about author - daniel

About Author - Cartney Piers

With extensive experience in the power tools industry, and her expertise in power tools import and export, combined with a strong business background, ensures our readers receive knowledgeable and timely news. Efficient and smart, Cartney excels in delivering high-quality content that resonates with B2B wholesalers and importers. Outside of writing, she enjoys exploring new technologies and staying ahead of industry trends.

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