Anyone who wants to become a trade analyst will need a degree related to finance, logistics, economics or international business. Other potential degrees include mathematics, business administration and supply chain management. Regardless of the degree, students will need job experience related to the analysis of various trade factors and elements. Below introduces the education and work experience that will help a person become a professional trade analyst.
International Trade Degree
A bachelor’s degree in international trade will cover the management, supply chain and economic concepts and aspects that a trade analyst works with every day. This degree will teach students about global finance, so students will gain the tools and perspectives needed to understand financial data, and accounting, so students will acquire a conceptual framework of accounting principles and procedures to help them become intellectual consumers of accounting data.
Students will learn about debt accounts, balance sheets, financial statements and transaction documentation. Studying warehousing will help students understand their financial activities and operational functions within the context of the global economy. Classes on purchasing will examine its financial and organizational functionality. Learning about port authorities and shipping lines will provide students with an understanding of logistical restrains, compliance requirements and standard terminology.
Cargo analysts oversee all financial calculations associated with voyage costs and cargo shipments. They provide financial reviews of optional logistical solutions, such as port, container, shipping company and transportation costs. They prepare various reports of their assigned trade commodities, such as net cargo contributions, historical trends, monthly forecasting and annual import and export statistics. They make logistical and financial recommendations in their reports.
They may download, organize and present monthly market share statistics for supply chain managers and trade analysts. Cargo analysts identify and evaluate emerging market and trade expansion opportunities within their assigned cargo categories. They interact with sales, shipping, operations and accounting departments. They must have the ability to plan, prioritize and organize complex research activities. They must always look for ways to improve data and process quality, accuracy and thoroughness.
Entry-level trade analysts will download, analyze and interpret trade data based on their understanding of things like the Harmonized Tariff Schedules (HTS) and the Code of Federal Regulations (CFR). Every day, they will communicate and interact with third-party logistical service providers, such as logisticians, customs brokers and freight forwarders, to understand current logistics operations and shipping activities, according to the Bureau of Labor Statistics. They may support the quality improvement program by generating trade performance metrics, executing root cause analyses and conducting impromptu audits on target areas.
They may identify redundant risks and critical issues associated with specific clients, account, shipping destinations and transportation vendors. They contribute to customer satisfaction and engagement through positive interactions, quick responsiveness to requests and strong attention to schedules and deadlines. They help operate various systems that support client deliverables and expectations. Trade analysts receive information requests from government agencies regarding compliance, so they must ensure timely and accurate responses.
Related Resource: Trade Analyst
Trade analysts usually have training in research methods, data integrity testing and government investigation procedures. Some employers prefer candidates who have a master’s degree and at least three years’ related experience. It is very beneficial for anyone who wants to become a trade analyst to be fluent in a second language.