Research is crucial to success in the global export market, in order to identify marketing opportunities and constraints within foreign markets and to pick out potential buyers and customers. Finding the largest, quickest growing markets with the ideal conditions for a certain type of business can be the difference between success and failure in the export market.

Primary market research is possible, and has the advantage of being tailored directly toward the needs of the company in question, but is also expensive and time-consuming. As a result, most companies choose to collect data from second-hand sources, for example trade statistics for a certain country or product. Being compiled by another individual or organisation, this is a cheaper and more time effective method and, provided the statistics in question are up to date, perhaps as effective as conducting primary research.

Research can be undertaken and advice obtained from a number of sources. Remaining aware of world events, analysing statistics and consulting experts can be extremely helpful, as can attending seminars and trade shows and talking with successful exporters of similar products. Sources of information regarding the global export market are many and varied, with information ranging from simple statistics to in-depth surveys and legal information. Local chambers of commerce and trade associations can provide valuable insights into particular markets, but there are more general resources available for the global market. What is important is the ability of the company in question to extract the information relevant to them from broad-based sources where much information may be inapplicable.

Once the relevant statistics have been collected, it is obviously crucial that it is properly analysed. Any firm looking to export should identify a handful of fast-growing markets for the product in question, making certain that market growth has been consistent for a few years in a row and checking on the response of imports of the product even in times of recession. Other markets should not be discounted entirely, as smaller markets could provide ground-floor opportunities. A newly opening market will have fewer competitors for the product than established markets. The firm should not just look at trends for their own product but also related ones that could influence demand, looking at both domestic and foreign sources of competition. As well as details of laws and tariffs, general information should also be obtained on the countries in question, such as economic backgrounds, market trends and demographic information.

If research is conducted effectively enough, a company should be able to conclude which countries its marketing resources would be best applied to. Newer companies would be advised to focus their efforts on a smaller number of markets than more established firms, though the internal resources of the firm and the state of their domestic business would be crucial in determining this.

• UN Statistical Yearbook. Published by the United Nations Statistics Division, the yearbook provides international trade information on both products and nations. Widely considered to be one of the most complete statistical reference books available, it contains data for 220 countries and territories, detailing economic and social subjects such as population, agriculture, manufacturing and export-import trade. Trade statistics are important as they allow the exporter to compare the size of markets in various countries for any given product, though it is important to look at statistics over a period of several years for the full picture. The most recent yearbook, revised in November 2011, can be downloaded herehttp://unstats.un.org/unsd/syb/. The World Bank Atlas offers similar but more general information.

• Worldcasts. An eight-volume annual series that presents 60,000 forecasts for products and markets covering 150 countries. The forecasts are typically one-line entries providing short- and long-range predictions for consumption, capacity, employment and production country by country. Each quarter a product volume and a regional volume in published. A complete annual set costs $1,300, while single volumes are priced at $450. A similar guide is the Exporters Encyclopedia, an extensive handbook on exporting that is updated annually. It covers more than 220 world markers, providing information on communications, trade regulations, documentation, transportation and business travel.

• Organisation for Economic Cooperation and Development (OECD). The OECD, whose mission is to support economic expansion, produces surveys covering each of the 24 member countries individually. Such surveys provide a narrative description and assessment of particular markets, presented alongside relevant statistics. They are usually based on original research and interviews. Each one contains a detailed analysis of developments in demand, production, employment, prices and wages. A complete set of surveys costs $180. The organisation also publishes on a range of social and economic issues and concerns within its member countries. These include reports on international market information for each country, including import data for assessing competition.

• The Federation of International Trade Organisations (FITA). FITA, along with its sister website GlobalTrade.net, provides the most comprehensive database of international trade web resources on the internet, with more than 8000 links annotated and indexed. Information is available on topics from international market research to product licensing and international transportation and logistics. GlobalTrade.net allows visitors to find service providers, trading companies and market analyses. Other examples of electronic databases providing specific marketing information include the PIER service of the Journal of Commerce and DIALOG.

• Export Shipping Manual. Another annually published manual, this one is updated weekly to keep it relevant. A three-volume reference service, it contains up-to-date, country-by-country shipping and market research information and analyses. For each country, social, political, economic and commercial conditions and profiled, with policies, regulations, issues, development and laws relating to commerce and foreign trade also detailed. Though similar to the more general yearbooks listed above, the information listed here is more trade specific and aimed at the export trade in particular.

Depending on the country a company is exporting from, departments of state and independent trade organisations within the country will also be able to offer specific advice on the share of the market held by the country in question as well as information regarding tariffs and other technicalities.