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In a bid to harmonize trade across the continent and make the products to be acceptable around the world the harmonized code has been developed to classify traded products around the world. The method is used to group names and numbers of nomenclature in order to be internationally standardized for easy acceptance of products across the continents using recognized units. The imports and exports are the main contributing factors to the stability of any countries economy across the continent. The import export data is a consolidation of various data about import and export from the various ports and the data is analyzed in such a way that it is user friendly and the information can be easily used by business men and the government to measure the strength of the economy by using the various economic indicators.

Many countries have over the years focused their strengths in minimizing the imports into their country in order not to affect the balance of payments. The import data India has over the years clearly shown that the country has over the years seen the decrease of import into the country. The import data India indicates that the month of May 2015 the total imports were $32752.99   compared to the same month in 2014 where the total imports were $232672.72.The export data India recently released a report showing an increase of exports which is a good indicator to the economy since it positively affects the balance of payments. The report indicate that the exports of the month of May 2015 were valued at $22346.75 compared to the exports of the same month of the year 2015 which were valued at166045.09

The economy of a country is termed to be progressive if the imports and export of a country do not have any effect on the balance of payments. The imports allows the country to have what it cannot produce while the export enable the country to trade some of its goods in order to make money. The imports and exports of a country enable it to strengthen friendship with different countries across the continent.