a lady holding a credit card to order online
Share on facebook
Share on twitter
Share on linkedin

Is an Import Export Business Still Viable in 2022?

The pandemic of COVID-19 has changed much of how the business world operates. Many of these adjustments have been for the better, allowing people to work from anywhere in the world and increasing e-commerce opportunities.

But for the import/export business, the rules keep getting shifted around. As soon as you think you know where you can and can’t ship to/from, something new happens.

With all of the confusion on the horizon, is an import/export business still viable in 2022? Here are the facts on the topic.

E-Commerce is Booming

The supply chain issue is a serious thing that’s affecting businesses everywhere. But it’s not impacting people and their demand for goods and services.

Some of the most lucrative exporting industries in 2022 include:

Join Our Small Business Community

Get the latest news, resources and tips to help you and your small business succeed.

Online Retail

As long as you set your export company up as a vendor and are legally authorized to do business in other countries, there are no borders. Consumers use the web to order from you, and they are willing to pay extra shipping to get their product delivered.

Ethnic, Homemade, Culture, and Other Niche Items

If you have something that is in demand by a small target market, this export arena is your go-to. For instance, it isn’t cost-effective for most people to travel to Brisbane and buy what you are selling. Instead, sellers buy your items in bulk, import them, and resell them for a profit. As long as you work with a customs broker Brisbane, your products can be easily exported or imported.

Clothing and Jewelry Retailers

Etsy, Shein, Poshmark, and Amazon have made these two industries popular. You can jump on board the exporting trend as long as you have style and fashion sense.

Import Statistics in 2022

If you want to be on the receiving end of the industry, you can do that, as well. In Australia, imports topped the list at a hefty $209B in 2019. This number is projected to rise even higher in 2022.

Australia is a top trade destination. Importers bring in much-needed goods to the residents of the country.

The most popular imports typically include:

  • Refined and crude petroleum
  • Vehicles
  • Delivery trucks
  • Broadcasting equipment
  • Sodium and potassium peroxide

If you have a knack for dealing with any of these products, your import business has a solid foundation before you even get started. Whatever you bring into the country will be in high demand.

Trading Companies Are Still Thriving

Yes, there’s a supply chain bottleneck that doesn’t look like it will be resolved any time soon. But the main companies that Australia imports from are still trading, buying, and selling almost as normal.

China, Japan, Germany, Thailand, and the United States make up much of the major geographic import locations. Once you start your business, find a contact in any of those regions and see what it would take to work with them.

Follow the legalities to set up your import/export business, and success is sure to follow. Even in 2022, people are still buying and selling across borders and overseas. The rules may have changed, but the demand of consumers has only increased.

_______________________________________________________________________

Some other articles you might find of interest:

Would you like to better understand how to drive and increase traffic to your startup website?

How to Drive & Increase Traffic to Your Startup Website

Do you have what it takes to start and run an online business?

5 Key Skills You Must Have to Start & Run an Online Home Based Business

Join Our Small Business Community

Get the latest news, resources and tips to help you and your small business succeed.

RECENT POST