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SpendEdge Forecasts a Spend Growth of over USD 60 Billion for the Customs Brokerage Industry

November 19, 2019 GMT
SpendEdge Forecasts a Spend Growth of over USD 60 Billion for the Customs Brokerage Industry
SpendEdge Forecasts a Spend Growth of over USD 60 Billion for the Customs Brokerage Industry

LONDON--(BUSINESS WIRE)--Nov 19, 2019--

SpendEdge, a global procurement market intelligence firm, has announced the release of its Global Customs Brokerage Industry - Procurement Intelligence Report.

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Global Customs Brokerage Industry Procurement Intelligence Report. (Graphic: Business Wire)

The global business scenario is witnessing a major boost in trade activities that include import and export of commodities across countries. Such a boost in the international trade activities is creating the requirement of a faster customs clearance process along with the necessary accurate documentation and compliance with customs regulations. This is resulting in the outsourcing of customs brokerage services to customs brokers who are equipped with a detailed knowledge of the tariff schedule and the listing of duty rates for import items. This will drive the spend momentum in the customs brokerage industry that will exceed 8% between 2017-2022.

Suppliers in the customs brokerage industry are observing a high demand across APAC, Africa, and South America owing to the exponential growth of industries such as chemicals, pharmaceutical, FMCG, and packaging. The increasing degree of import of automotive parts, iron and steel, and petroleum products is fueling the spend growth in the customs brokerage industry in South America. Frequent changes in the regulatory requirement in African countries such as South Africa and Nigeria are expected to result in a higher requirement of customs brokerage services in those regions.

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About SpendEdge:

SpendEdge shares your passion for driving sourcing and procurement excellence. We are the preferred procurement market intelligence partner for 120+ Fortune 500 firms and other leading companies across numerous industries. Our strength lies in delivering robust, real-time procurement market intelligence reports and solutions. To know more, https://www.spendedge.com/request-free-proposal

View source version on businesswire.com:https://www.businesswire.com/news/home/20191119005823/en/

CONTACT: SpendEdge

Anirban Choudhury

Marketing Manager

US: +1 630 984 7340

UK: +44 148 459 9299

https://www.spendedge.com/contact-us

KEYWORD:

INDUSTRY KEYWORD: SUPPLY CHAIN MANAGEMENT PROFESSIONAL SERVICES RETAIL OTHER PROFESSIONAL SERVICES TRANSPORT LOGISTICS/SUPPLY CHAIN MANAGEMENT

SOURCE: SpendEdge

Copyright Business Wire 2019.

PUB: 11/19/2019 12:30 PM/DISC: 11/19/2019 12:30 PM

http://www.businesswire.com/news/home/20191119005823/en