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China Failing to Meet Trade Deal Targets with US

January 22, 2021

China, News, Trade Agreements, United States

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The International Trade Council has expressed concern over China’s shortfall in meeting its commitment to purchase an extra $200 billion worth of US goods over 2020 and 2021. This commitment was part of a phase one trade deal aimed at resolving the trade war between the world’s two largest economies. The agreement saw China […]

Tracking Vaccine‐Related R&D Expenditure via ISIC 7210

January 10, 2021

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Tracking Vaccine‐Related R&D Expenditure via ISIC 7210

The urgency of vaccine development during the pandemic brought research spending into public view as rarely before. Headlines trumpeted billion-dollar pledges, but behind every news release was a web of laboratories, biotech firms, and academic partners. For economists and policy analysts wanting to trace where the money actually went—and how much of it targeted vaccines […]

EU Ambassadors Approve EU-UK Trade Deal

December 28, 2020

Europe, News, Trade Relations, United Kingdom

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Brussels, 28 December 2020 – Ambassadors from the 27 EU member states have given their unanimous approval to the EU-UK post-Brexit trade deal, paving the way for it to come into force on 1 January. The UK Parliament is expected to approve it on 30 December. Under EU rules, it can take effect provisionally, […]

International Trade Council Reacts to US Blacklisting of Companies with Possible Military Ties

December 22, 2020

News, Trade Policy, United States

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The International Trade Council is closely monitoring the recent move by the United States to blacklist more than 100 Chinese and Russian companies with alleged military ties. The US government has placed export restrictions on these companies and US exporters will be required to obtain a license before they transfer “designated items” to companies on […]

Assessing Early 2020 Supply Chain Shifts Using ISIC 2590

November 5, 2020

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Assessing Early 2020 Supply Chain Shifts Using ISIC 2590

When supply chains began to fray in early 2020, the first signs weren’t always visible on supermarket shelves. For many manufacturers, the cracks showed up as missed deliveries, empty bins in the warehouse, and anxious calls from sub-contractors suddenly unable to ship components. Metal parts—everything from fasteners to specialized castings—were among the most ubiquitous and […]

International Trade Council celebrates the signing of the UK-Japan Free Trade Agreement

October 23, 2020

Bilateral Trade Relation, Japan, News, United Kingdom

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The International Trade Council is pleased to announce the signing of the UK-Japan Free Trade Agreement, which marks the United Kingdom’s first major trade pact after Brexit. The deal is expected to strengthen the trade relationship between the two nations, bringing significant benefits to both countries. Under the agreement, nearly all exports from the […]

ISIC Codes in 2020 for Measuring PPE Manufacturing Surge

September 20, 2020

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ISIC Codes in 2020 for Measuring PPE Manufacturing Surge

Few products became as emblematic of 2020 as masks, gloves, and gowns. Personal protective equipment (PPE)—once a niche concern for hospitals and industry—suddenly found itself at the center of global supply chains and public anxiety. For those seeking to track how manufacturing adapted to unprecedented demand, the challenge wasn’t just in counting boxes shipped, but […]

US eliminates plans for 10% tariff on certain types of Canadian aluminium

September 15, 2020

News, Trade Policy, United States

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International Trade Council welcomes the decision of the United States to drop the proposed 10% tariff on certain types of Canadian aluminum. The tariff was announced by President Donald Trump just last month, citing a flood of under-priced metal into the country. After determining that imports were likely to decline after an earlier surge, the […]

Using ISIC Data to Combat Financial Crime and Money Laundering

August 28, 2020

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Using ISIC Data to Combat Financial Crime and Money Laundering

Financial crime, and money laundering in particular, remains one of the more persistent and elusive threats to economic stability. It’s a world where obfuscation is the rule, not the exception. Criminals are inventive; they learn, they adapt. Law enforcement and regulators, meanwhile, must continuously refine their tools and methods just to keep pace. Amid this […]

Sector-Specific Growth Forecasting Using ISIC Trends

August 25, 2020

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Sector-Specific Growth Forecasting Using ISIC Trends

Forecasting sectoral growth remains both an art and a science, even in our era of vast databases and advanced analytics. While aggregate macroeconomic forecasts—GDP, inflation, labor participation—tend to capture headlines, a great deal of economic dynamism actually plays out at the level of individual sectors. For this reason, longitudinal data organized by International Standard Industrial […]

International Trade Council welcomes US-EU agreement to eliminate lobster tariffs

August 21, 2020

Europe, News, Trade Agreements, United States

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The International Trade Council (ITC) welcomes the news that the European Union has agreed to eliminate tariffs on US lobster, a key priority of President Donald Trump, in exchange for the US halving import taxes on some $160m worth of European goods, including cigarette lighters and certain crystal glassware. The agreement is the first tariff […]

Tourism Economics: Measuring Visitor Impact Using ISIC Services Codes

August 18, 2020

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Tourism Economics: Measuring Visitor Impact Using ISIC Services Codes

Tourism is a powerful force in modern economies—fueling job creation, entrepreneurship, and regional development. But the real impact of visitor spending is often hard to measure. Too frequently, analysis focuses on headline arrivals or hotel occupancy, missing the broader ripple effects across restaurants, transport, entertainment, and retail. To address this gap, economists have turned to […]

Correlating ISIC Codes to Legal Entity Types and Ownership Structures

August 15, 2020

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Correlating ISIC Codes to Legal Entity Types and Ownership Structures

There’s a tendency, even among seasoned economists, to treat ISIC codes as though they exist in a vacuum—neatly separating sectors, sorting economic activity into convenient boxes. But in reality, the landscape of industry is far more layered. Businesses come in all shapes and sizes, wrapped in a range of legal structures that, if we’re honest, […]

Modification of Trade Status: Cambodia’s Exclusion from the European Union’s EBA Initiative

August 13, 2020

Cambodia, Europe, News, Sanctions

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The International Trade Council announces that the European Union has formally adjusted its trade relationship with Cambodia, moving away from its preferential trade programme, the Everything but Arms (EBA) agreement. The decision, resulting from Cambodia’s persisting systemic human rights violations, reinstates custom duties on a significant proportion of Cambodia’s exports to the EU. Under the […]

Investment Promotion: Attracting FDI with ISIC-Guided Sector Mapping

August 13, 2020

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Investment Promotion: Attracting FDI with ISIC-Guided Sector Mapping

Foreign direct investment (FDI) is fiercely competitive. Every country wants its share of new factories, technology parks, or corporate headquarters. Yet success rarely comes from simply lowering taxes or launching glossy ad campaigns. Instead, the most effective investment promotion agencies (IPAs) have learned to speak the language of both global investors and local economic realities. […]

Using ISIC to Quantify Early 2020 Restaurant Closures (ISIC 5610)

August 10, 2020

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Using ISIC to Quantify Early 2020 Restaurant Closures (ISIC 5610)

The shock of early 2020 hit the restaurant industry with a speed and force that left analysts scrambling for answers almost as fast as owners scrambled to survive. Streets that once buzzed with activity fell silent. Headlines told part of the story, but policymakers and researchers needed something firmer than anecdotes: actual numbers, mapped in […]

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