Export facts & stats

Question 1

What is a tax charged on imported goods called?

Accepted Answer

Tariff. A tariff is a duty that governments place on goods brought into the country.

Question 2

What was the ancient network of trade routes linking China with the Mediterranean called?

Accepted Answer

The Silk Road. The Silk Road carried silk, spices and ideas between China, Central Asia and the Mediterranean world.

Question 3

Which canal, opened in 1869, links the Mediterranean Sea with the Red Sea?

Accepted Answer

Suez Canal. The Suez Canal in Egypt lets ships travel between Europe and Asia without sailing around Africa.

Question 4

In container shipping, what does TEU stand for?

Accepted Answer

Twenty-foot Equivalent Unit. The TEU measures cargo capacity based on a standard 20-foot shipping container.

Question 5

What does a certificate of origin show?

Accepted Answer

The country where goods were made. A certificate of origin states where goods were produced, which can affect the duties they face.

Question 6

Which organization publishes the Incoterms rules used in international sales contracts?

Accepted Answer

International Chamber of Commerce. The International Chamber of Commerce first published Incoterms in 1936 and revises them periodically.

Question 7

In which year was the World Trade Organization established?

Accepted Answer

1995. The WTO began operating on 1 January 1995, succeeding the earlier GATT system.

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