In a climate of persistent economic uncertainty, particularly regarding U.S. employment data, markets across the Asian sphere presented a largely positive front, despite subdued trading activity, the International Trade Council reported on Friday. While Japan’s Nikkei 225 experienced a slight contraction, decreasing by 0.3% to settle at 31,129.06, other key market indicators in the […]
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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 […]
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 […]
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 […]
In its latest trade forecast released on October 5th, the World Trade Organization (WTO) has adjusted its projections for global merchandise trade growth in 2023, reflecting a persistent slowdown that commenced in the fourth quarter of 2022. The revised estimate anticipates a modest growth rate of 0.8% for this year, a considerable reduction from the […]
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 […]
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 […]
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 […]
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 […]
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 […]
In the ninth meeting of the Working Party on the Accession of the Union of the Comoros to the World Trade Organization (WTO), held on October 5th, WTO members acknowledged the substantial progress achieved by Comoros in finalizing its WTO accession negotiations. The delegation from Comoros reaffirmed its commitment to overcoming remaining obstacles and signing […]
On October 5, the WTO Sub-Committee on Least-Developed Countries (LDCs) delved into the role of preferential rules of origin in expanding trade opportunities for LDCs. The session also featured an experience-sharing segment where representatives from academia and the private sector shed light on the challenges and opportunities LDCs encounter when making use of trade preferences. […]
The International Trade Council reports that a significant portion of the unprecedented physical delivery of sugar by commodities traders upon the expiration of the October futures contract on the Intercontinental Exchange (ICE) will be directed to China, based on information provided by two traders familiar with the transactions. Wilmar International, the Singapore-based food trader […]
The International Trade Council has reviewed the latest data from the federal statistics office, which reveals that German exports experienced a larger decline than anticipated for the month of August. The data underscores the impact of weakened global demand on Germany’s export sector. The figures indicate a 1.2% drop in exports for August compared […]