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Archive for the ‘International Trade’ Category

New Report Aims to Boost SME Exporting

International Trade, News

July 31, 2024

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 […]

Pakistan Seeks New Export Opportunities in Afghanistan and Central Asia

International Trade, News, Pakistan

July 30, 2024

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 […]

Historic Garlic Import Through Mongla Port

Bangladesh, International Trade, News

July 30, 2024

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 […]

Trade Balance Shows €80 Million Surplus in May

International Trade, News

July 30, 2024

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 Selects Malaysia as a Key Trade Hub

Germany, International Trade, News

July 29, 2024

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 Achieves $14 Billion Trade Surplus in Seven Months

International Trade, News, Vietnam

July 29, 2024

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 […]

Ghana’s Trade Surplus Expands in First Half of 2024, Boosted by Gold Exports

Africa, International Trade, News

July 29, 2024

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 […]

Import-Export Operations Regain Momentum in Seaports and Land Ports

International Trade, News

July 29, 2024

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, […]

Nigeria’s Fuel Imports from Malta Reach $2.25 Billion Over Nine Years

Africa, International Trade, News

July 26, 2024

The International Trade Council reports that Nigeria has seen substantial growth in its fuel imports from Malta, totaling $2.25 billion over the past nine years. This significant trade activity highlights the strengthening economic ties and robust trade relations between Nigeria and Malta.   According to Trade Map data, Nigeria’s imports of petroleum oils obtained from […]

Malaysia’s June Trade Data Reports 1.3% Growth, Driven by Mineral Fuels

International Trade, News, Southeast Asia

July 26, 2024

The International Trade Council has released Malaysia’s trade figures for June, showing a 1.3% increase in overall trade activity. This growth is primarily attributed to a rise in the export unit value index, which increased by 0.6% from the previous month. Key contributors to this increase include mineral fuels (+2.4%), food (+1.2%), and machinery & […]

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