When trading in a new market, it’s good to know the administrative, regulatory, and logistical challenges that may lie ahead, for both established or emerging markets.
To understand the new methodology the Doing Business 2016 indicators use to measure information about countries, and to use this information to decide with confidence which countries are best suited to you as an export market.
How Doing Business 2016 indicators can help your business
The time it takes to export and import can differ widely between countries. Knowing which countries have the most efficient import and export processes can save you a great deal of time and money.
Many businesses have used the Doing Business indicators to assess export and import procedures of global economies. To give businesses even more accurate information about the export and importing processes worldwide, Doing Business used a new methodology in 2016.
This new methodology measured the time and cost for three sets of procedures needed for exporting and importing:
- Documentary compliance
- Border compliance
- Domestic transport
For the first time, Doing Business 2016 has considered the product of comparative advantage for each economy when measuring export procedures. For import procedures it has focused on auto parts because they are a single, very common manufactured product. This gives businesses a more accurate, fair, and representative data set to review.
You can dive into the Doing Business index for your markets, or read more about the metric and methodology behind it below.