× Home Research CV Resources

Trade Data Resources

Trade Data Resources
Basics of Working with Trade Data
  • Quantities data can be inconsistently measured across countries. Differences in reporting standards, corruption, and other country differences can lead to measurment error in quantities data.
  • For this reason trade data is typicallly preffered when working with trade data from multiple countries. If you are working with only the U.S. trade data this is probably less of a concern.
  • Goods are classified via the Harmonized System (HS). This is a system of standardized commodities codes that makes it easier to collect tariff revenues.
  • For international trade data the HS codes are available in 2-, 4-, and 6-digit levels of details (with 6 being more detailed than 2). U.S. trade data is publicly available at a 10-digit level of data.
    • For more information on HS codes see here
  • Every five years there is an update to these codes. New codes are created to capture trade in new goods and codes are merged as products become less relevant. The latest revision to the HS system occured in 2022.
    • Crosswalks between differenct HS revisions can be found here