Is entrepot trade actually considered as import? Come and help me out!
Solved#Entrepot trade#
I'm not quite clear about the related concepts of trade. I'd like to ask if entrepot trade belongs to import? Recently, I've been researching trade types and found that the process of entrepot trade seems a bit complicated. Goods will undergo some operations in the transit place, which seems quite different from general import. So I'd like to ask everyone, from the perspectives of definition and actual operation, can entrepot trade actually be regarded as import? I hope to get an easy-to-understand explanation.
Professional consultant answers
David LiYears of service：6Customer Rating：5.0
Senior customs declaration consultantConsult
Strictly speaking, entrepot trade does not belong to import. Import refers to purchasing goods from other countries or regions into the customs territory of one's own country. While entrepot trade refers to the business of importing and exporting goods in international trade, which is not directly carried out between the producing country and the consuming country, but is a transaction transshipped through a third country.
In entrepot trade, although goods will pass through the transit country, they usually only stay briefly and do not enter the consumption and production fields of the transit country. The enterprises in the transit country mainly earn the price difference by reselling the goods. For example, products produced in China are first shipped to Singapore, and then Singaporean traders sell them to the United States. For Singapore, this is entrepot trade, and the goods are not truly imported into Singapore for consumption, etc.
The key to import lies in that goods enter the domestic market for circulation, consumption, etc., while the purpose of entrepot trade goods is not to enter the market of the transit country, so the two concepts are different.
Robert ChenYears of service：6Customer Rating：5.0
Customer service consultantConsult
Entrepot trade is not counted as import. Import mainly means that goods enter the domestic consumption or use of one's own country, while entrepot trade goods are only transshipped through a third country. The enterprises of the third country earn the intermediate price difference, and the goods do not truly enter the market of that country, and the nature is different.
Elizabeth LiYears of service：3Customer Rating：5.0
Compliance and risk managerConsult
The difference between entrepot trade and import is obvious. Import means that goods enter the customs territory of one's own country from abroad to meet domestic demands, while entrepot trade goods do not undergo substantial consumption in the transit country, but are only transshipped and then sold to other countries.
Jennifer WangYears of service：4Customer Rating：5.0
Market development consultantConsult
Entrepot trade cannot be simply classified as import. Entrepot trade goods do not pay import duties in the transit country for domestic sales, etc., but only take a detour through the transit country, and the uses and processes of import goods are different.
Emily LiuYears of service：10Customer Rating：5.0
Settlement and payment expertConsult
Entrepot trade does not belong to import. Import is for the goods used by one's own country, while entrepot trade goods do not stay in the transit country for consumption, but are to be sold to other countries, and the two meanings are different.
Sarah ZhangYears of service：8Customer Rating：5.0
Document expertConsult
From the perspective of trade nature, entrepot trade is not import. The imported goods are to meet the domestic demands, while entrepot trade only takes advantage of the trade advantages of the transit country, and the goods do not enter the market of the transit country.
Michelle ChenYears of service：3Customer Rating：5.0
Business coordination consultantConsult
The concepts of entrepot trade and import are different. Entrepot trade goods are not consumed domestically in the transit country, but are only transshipped in transition, while import means that goods enter one's own country for various demands.
Andrew HuangYears of service：7Customer Rating：5.0
Supply chain optimization expertConsult
Entrepot trade cannot be regarded as import. Import means that goods enter the domestic market, while the purpose of entrepot trade goods is to be sold to other countries, and no substantial import treatment is carried out in the transit country.
Amanda YangYears of service：3Customer Rating：5.0
Cost control consultantConsult
Obviously, entrepot trade does not belong to import. Import involves goods entering the customs territory of one's own country for consumption, etc., while in entrepot trade, goods only stay briefly in the transit country and then are re-exported.
William YangYears of service：5Customer Rating：5.0
International logistics consultantConsult
Entrepot trade is not import. Imported goods are for domestic use, while entrepot trade goods only take advantage of the transit country to transship and sell to other countries.