Top rank imports
Top rank imports – Introduction
Top rank imports, what do we mean by this? By top rank imports we mean the imports that represent the biggest opportunities for rapid growth and sales around the world at this current time.
In this article we identify four top rank imports that are currently in high demand and can expect future on going increases in demand internationally. The top rank imports are both physical goods and international services.
Top rank imports – Rice
Worldwide shortages of rice mean that rice is one of the top rank imports. India is the world’s largest producer and exporter of rice but India currently has an export ban on most types of rice to ensure that domestic prices remain affordable to the majority. India is still currently exporting basmati rice varieties and other countries have increased export supply to meet some of the shortfall.
As the world population increases food supply in general may become an even more serious issue. World hunger has decreased since the 1980’s and yet still 1 in 10 of the world population lives within 3, 4 and 5 phases of food security.
An article about the world rice industry is here: https://blackcat360.com/rice-exporters/
Top rank imports – Electric and other non-fossil fuel vehicles
I was interested to see an article recently which identified the main export category for most European countries, it was suprising to see how many European countries count cars and vehicles as their top export. Over 15% of the world’s 8 billion population now own a car representating over 1 billion vehicles. So it is not suprising that cars are top rank imports.
The advent of climate change has driven the move to more environmentally friendly vehicles with electric vehicles currently being in ‘vogue’. Tesla has risen quickly to dominate the EV vehicle market but this dominance is now being challenged by many other companies including BYD, Hyundai and SAIC.
The EV reign may be a short one though, the recent breakthrough in hydrogen engines by BMW and the new hydrogen driven concept car iX5 hydrogen mean a new mode of vehicles is already here. Hydrogen fuel cell cars have no emissions, long range, are quiet and fuel efficient.
More information on the BMW iX5 Hydrogen here:
electric vehicle imports
Top rank imports – Artificial intelligence
Of course services as well as goods are imports and exports and the incredible development and growth of artificial intelligence surely gives it the status of one of the top rank imports. The world’s largest artificial intelligence companies are Microsoft, NVidia, Alphabet and Meta. NVidia has now reached market capitalization of $2.8 trillion.
Artificial intelligence will revolutionize the way many industries operate and could change the fundamentals of human society. Our article on the effects of artificial intelligence on international trade can be seen here https://blackcat360.com/artificial-intelligence-in-international-trade/ .AI applications are top rank imports that will change importing.
Of course right now only narrow AI has ever been developed and general AI is still some way off, so we may not see Mr. Data for a while.
Top rank imports – Air industry
In 2023 global air travel surpassed pre-pandemic levels by 3.9%. Air travel is back and tourism is an important part of world trade. Airline start-ups around the world are growing, searching for options to travel from Georgia to Uzbekistan recently I found four new airline starts ups in those two countries alone including Centrum, Georgian Wings and Samarkand Airways.
Global air travel is projected by Air Council International to reach 20 billion passengers by 2042 with annual growth averaging 3.6% over the period. Some impressive new airport projects will help sustain this growth with major developments in Dubai, Warsaw, Singapore, London, New York and Ho Chi Minh City.
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Top rank imports
