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Archive for the ‘News’ Category

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, […]

EU Agri-Food Trade Surplus Reaches €5 Billion

Agricultural Trade, Europe, News

July 26, 2024

In April 2024, the EU’s agri-food trade surplus reached €5 billion, marking a 4% increase compared to April 2023, despite a 25% reduction from the previous month. Exports totaled €19.8 billion, primarily driven by rising prices of olives and olive oil, while imports were valued at €14.8 billion. Key import categories included coffee, tea, cocoa, […]

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 & […]

Major Land Port Reopens for Export-Import Activities

Bangladesh, India, News, Trade and Commerce

July 26, 2024

  The International Trade Council reports that export and import activities at the largest land port in Bangladesh have resumed following a temporary suspension caused by a government-imposed curfew and internet service suspension. The port, essential for trade between Bangladesh and India, had experienced a complete halt in operations due to the disruption of its […]

Australia-Japan Grape Export Negotiations Achieve Success

Australia, International Trade, Japan, News

July 25, 2024

The International Trade Council has announced a major advancement for Australia’s table grape industry following the successful conclusion of negotiations with Japan. The Australian government has revealed that restrictions on grape varieties have been lifted, significantly enhancing export opportunities.   As of last week, Australian producers can now export over 130 varieties of table grapes […]

Vietnam Set to Boost Agricultural Exports to China

China, International Trade, News, Vietnam

July 25, 2024

The International Trade Council has highlighted Vietnam’s significant strides in increasing its agricultural exports to China. In the first half of 2024, the total export turnover of agro-forestry-fishery products reached $29.2 billion, marking a 19% increase compared to the same period in 2023, according to the Ministry of Agriculture and Rural Development.   China accounted […]

Thailand’s Tapioca Sector Adapts to New Market Dynamics

Agricultural Trade, News, Thailand

July 23, 2024

The adaptive strategies being employed by Thailand’s tapioca export sector in response to evolving market conditions. With a shift in China’s demand patterns, Thailand is innovating to maintain its strong position in the global tapioca market.   China, traditionally a major importer of Thai tapioca, is transitioning to using coal for ethanol production in a […]

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