Egypt’s non-oil trade deficit for the first half of 2024 has decreased to $15.9 billion. This marks a 16% improvement from the $18.9 billion deficit recorded during the same period in 2023. During the initial six months of 2024, Egypt saw a notable 9.8% increase in merchandise exports, reaching $19.6 billion. In contrast, imports […]
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The International Trade Council highlights a new initiative designed to invigorate exporting activities among small and medium-sized enterprises (SMEs). A recent report proposes measures to increase the number of small business exporters. An SME Export Taskforce was formed to tackle the low percentage of small firms—currently only 10%—engaged in international trade. The taskforce identified several […]
Thailand is on track to export 8.2 million tonnes of rice this year, an increase from the previously forecasted 7.5 million tonnes. This surge is attributed to strong demand from key markets and a weakening baht, according to the Commerce Ministry. The Director-General of the Foreign Trade Department noted that rice exports in the […]
Pakistan is exploring new export markets in Afghanistan and Central Asia, according to recent statements from Commerce Minister Jam Kamal Khan. The minister emphasized that addressing existing “political and connectivity challenges” could significantly enhance trade opportunities with these regions. Traditionally, Pakistan’s exports have been focused on Western economies, China, and the Gulf Cooperation Council […]
Dhaka has reached a notable achievement with the recent approval to export fresh mangoes to China, marking a significant expansion into a market that spent $172 billion on fruit imports in the first half of 2021. This green light from China’s General Administration of Customs comes through ‘Announcement No. 94 of 2024,’ following the […]
In a significant move, India has approved the export of 1,000 tonnes of non-basmati white rice to Namibia. This decision, announced on Monday, allows the export through a designated national cooperative despite a general ban on non-basmati white rice exports since July 20, 2023. The export ban was originally implemented to boost domestic supply. […]
In a historic first, 58 tonnes of garlic were imported through Mongla Sea Port on Sunday, as announced by the Deputy Director of Communication of the Mongla Port Authority in Dhaka on Monday. A Singapore-flagged vessel docked at the port’s jetty, unloading a total of 229 TEU containers. Among these, two 40-foot containers were […]
The trade balance posted a surplus of €80 million in May 2024, according to the latest international trade in goods statistics released by Finnish Customs on Monday. Between January and May 2024, the trade balance accumulated a deficit of €2.0 billion. The overall trade surplus by commodity group, including products from the mechanical and chemical […]
Germany has designated Malaysia as a significant export and trade hub, expanding its trade strategy beyond reliance on China. This move supports Germany’s derisking approach, which aims to minimize dependence on a single nation. Prime Minister Datuk Seri Anwar Ibrahim announced this shift, highlighting a notable increase in visits from foreign trade ministers to Malaysia. […]
Vietnam has achieved a significant trade surplus of $14.08 billion in the first seven months of this year, reflecting strong export performance. During this period, Vietnam’s trade turnover reached nearly $440 billion, with exports totaling $226.98 billion and imports at $212.9 billion, showing year-on-year increases of 15.7% and 18.5%, respectively. The export growth was […]
The International Trade Council reports that Ghana’s trade surplus grew significantly in the first half of 2024, driven primarily by a substantial rise in gold export revenue. This increase helped mitigate the effects of a decline in cocoa income. Ghana’s trade surplus increased by 12.5% from the previous year, reaching $1.8 billion. Total exports […]
The United Kingdom has seen a significant increase in the average export price of Vietnamese coffee due to a dip in supply. Vietnam, the second-largest coffee supplier to the UK, saw its coffee prices reach USD 3,941 per tonne in the first half of this year, marking a 68.4% increase compared to the same period […]
The International Trade Council reports that import and export activities, along with customs procedures, have significantly picked up pace at all seaports and land ports in the country. This recovery follows recent disruptions due to quota movements and internet service interruptions. With the restoration of broadband internet services and improved law and order conditions, […]