WISER: World Institute for Strategic Economic Research- Statistical Data Source, Part 1

WISER: Tailored for the User

Formed in July 2004, the World Institute for Strategic Economic Research, WISER, sought to continue the work of its predecessor, MISER—Massachussetts Institute for Strategic Economic Research in the field of international trade data.

Another website that offers trade statistics, right? There are quite a few of them out there, so which ones are worth the effort and your dollars? Hopefully this review will help you figure out if WISER is a good fit for your needs.

WISER (MISER) was one of the first Business and Industry Data Centers to focus especially on foreign trade statistics and through various developments has become one of the leading providers of U.S. and state level trade statistics.

WISER boasts an extensive international trade database, consisting of the following categories:

• Four U.S. State Level Export Series
• U.S. Exports and Imports by Customs Districts and by Individual Port
• EU Trade Statistics
• Candadian Trade Statistics
• Japanese Trade Statistics

Other WISERTrade benefits include:

• Instant access to all data updates
• Data coverage over long time series (primarily HS coding—less than 20 years, SIC—from 1988, and SITC—from 1997)
• Standard and custom U.S. and world regions
• Customized Industry/Commodity Lists
• Drilldowns
• Dashboard Graphics (charts, graphs, tables, etc.)
• PDF, MS-Word, spreadsheet and text outputs
• Mapping

WISER data is derived from only official sources, according to customer service representative Jack, such as the U.S. Census Bureau, government customs agencies, and United Nations database. Data from WISER is from “legitimate sources, no third parties here.” Dating back to 1988 until present day, many of the reports offer both annual and monthly data and can be exported into various dashboard graphics (charts, graphs, tables).

Though only available currently in English, Jack, the WISER customer service representative was very honest in stating where WISER falls on the totem pole of foreign statistic databases. UNComtrade’s data is on WISERTrade, however Global Trade Institute may come in different languages and be more complete, but not without a price passed on to you. Jack noted that subscribers are not allowed to download batches of data, but only limited amounts. However, as Jack described, there are options that allow you to batch your order at a price complete with computer software allowing you to extract the data.

Offered in a variety of formats, WISERTrade grants immediate access to comprehensive and timely U.S. trade databases. WiserTrade offers standard and customized statistical reports  and data files sent by fax or e-mail.

Okay, all of this information is great, but tell me the bottom line, right? How much do licenses cost? Well, it really depends on how many countries you need, as there are different licenses for different users. It is really tailored to the user, the amount you need, whether you want a monthly or quarterly subscription, or perhaps on an as-needed basis. Contact WISER for more information specific to your needs. Here are a couple numbers: consultant licenses range from $3,000 to $5,000 based on how many countries, and for personal use for projects or research is about $1,000.

Still not sold? Well, you can try it out for yourself and fiddle around with the system itself, just shoot customer service an e-mail and ask for an online demo, but you have to request it.

“WISERTrade is an invaluable resource for businesses, trade service providers, libraries, universities and other trade data users, providing the most extensive U.S. and World trade database available online.”