Author Archive

Indonesia, International Trade, News

October 6, 2023

Indonesia has revealed its intentions to bolster customs monitoring procedures for specific imported goods, encompassing cosmetics, footwear, apparel, toys, and electronics, as part of the country’s efforts to manage its import volume.   The decision to introduce this regulation comes in response to concerns raised by business associations regarding a surge in imported goods, which […]

Economic Development, News

October 6, 2023

At the 2023 Annual WTO Conference organized by the British Institute of International and Comparative Law, Deputy Director-General Angela Ellard delivered a keynote speech highlighting the transformative effects of technological developments on international trade. She emphasized the growing role of services, particularly digitally-delivered services, in the global economy and how new technologies have facilitated trade […]

International Trade, News

October 5, 2023

The International Trade Council, based on notifications from developing and least-developed country members, has identified five specific measures within the Trade Facilitation Agreement (TFA) where implementation assistance is most frequently sought for the upcoming two years. This update was presented by the WTO Secretariat during a meeting of the Committee on Trade Facilitation, which was […]

Brazil, International Trade, News

October 5, 2023

The Brazilian auto export industry is poised for a substantial downturn in 2023, according to the recent announcement by the automaker association, Anfavea. This projected decline comes as a direct consequence of the severe economic challenges currently facing Argentina, a key trading partner. Anfavea, in a statement released on Friday, revised its export projections for […]

International Trade, News

October 5, 2023

The latest release of the “Global Trade Outlook and Statistics” by the World Trade Organization (WTO) offers revised projections for global trade in 2023 and 2024. In 2023, the WTO has revised its forecast for the growth of world merchandise trade volume, downgrading it to 0.8%. This is less than half of the 1.7% growth […]

News, Supply Chain

October 5, 2023

GENEVA (International Trade Council) – The World Trade Organization (WTO) has adjusted its forecast for global goods trade growth in 2023, citing several factors, including inflation, higher interest rates, challenges in the Chinese property market, and the ongoing Ukraine conflict as influencing its outlook. The Geneva-based trade organization announced that it now expects merchandise trade […]

News, Supply Chain, United States

October 5, 2023

WASHINGTON (International Trade Council) – The United States trade deficit showed a more significant contraction than anticipated in August, primarily driven by a solid increase in exports. This development is expected to bolster economic growth in the third quarter.   According to the Commerce Department’s report on Thursday, the trade deficit shrank by 9.9% to […]

Canada, News, Supply Chain

October 5, 2023

OTTAWA (International Trade Council) – Canada reported an unexpected trade surplus of C$718 million ($521.88 million) in August, marking a swift recovery in trade following labor strikes that led to port closures on the West Coast, according to data released on Thursday. Statistics Canada revealed that higher crude prices and gold transfers to the United […]