Become a Member

Archive for the ‘News’ Category

8th BIGTEX 2024 – Bangladesh International Garment & Textile Machinery Expo Set to Kick Off

Bangladesh, Industry Events, News

July 15, 2024

The 8th Bangladesh International Garment & Textile Machinery Expo (BIGTEX) 2024 is scheduled to take place from October 24 to 26, 2024, at the International Convention City Bashundhara (ICCB) in Dhaka, Bangladesh. Organized by Redcarpet Global in association with the Bangladesh Garment Manufacturers & Exporters Association (BGMEA), the event promises to be a significant gathering […]

Vietnam Targets $3.5 Billion in Durian Exports for 2024

Agricultural Trade, News, Vietnam

July 12, 2024

Vietnam is setting ambitious goals for its fruit and vegetable export sector, with a particular focus on durian. According to the Vietnam Fruit and Vegetable Association, the nation aims to achieve $3.5 billion in export turnover from durian in 2024, marking a 55% increase from the previous year. In June 2024 alone, fruit and vegetable […]

Georgia Boosts Blueberry Exports to EU and UK

Europe, International Trade, News, United Kingdom

July 12, 2024

Georgia’s Ministry of Economy announced on Tuesday its plans to export 500 tonnes of blueberries to the European Union and the United Kingdom as part of a strategic initiative aimed at expanding international market opportunities for local producers. According to Agenda.ge, a significant portion of the blueberry shipment has already been sent to these key […]

China’s Trade Shows Resilience with 2.9% Growth, Reaching USD2.98 Trillion in First Half

China, Economic Development, News

July 12, 2024

China’s trade sector demonstrated robust growth, expanding by 2.9% to USD2.98 trillion in US dollar terms during the first half of the year, according to the latest data from the General Administration of Customs. Imports into China grew by 2% to USD1.27 trillion, while exports increased by 3.6% to USD1.71 trillion, resulting in a […]

India Sees Strong Growth in Car Exports, Stable Domestic Sales in Q1

Automotive Industry, India, News

July 12, 2024

India’s car exports showed robust growth in the first quarter of 2023-24, totaling 180,483 units, marking an 18.6% increase compared to the previous year. This surge was driven by strong demand in key international markets, according to data released by the Society of Indian Automobile Manufacturers (SIAM). Meanwhile, domestic car sales remained steady at […]

China’s Trade Surplus Reaches Record High Amidst Economic Uncertainty

China, International Trade, News

July 12, 2024

China’s export growth reached its highest pace in fifteen months this June, indicating that manufacturers are accelerating orders in anticipation of potential tariffs from a growing list of trade partners. However, imports saw an unexpected decline due to weak domestic demand. This mixed trade data underscores the need for further government intervention as China’s $18.6 […]

Surge in Northern Imports Driven by EV Boom

International Trade, News

July 11, 2024

Recent data from the Trade and Export Promotion Center reveals a significant rise in imports from northern regions, largely attributed to the booming entry of electric vehicles (EVs) and other consumer goods. This upward trend is a promising indicator of robust trade activities and economic resilience. From January to June 2024, imports from the […]

Significant Rise in Gas Exports to Europe in First Half of 2024

Energy Export, Europe, News

July 11, 2024

In the first half of 2024, a notable increase in natural gas exports to Europe was recorded, reaching 6.4 billion cubic meters (bcm). This growth reflects the expanding role of the region in the global energy market. From January to June, gas exports demonstrated substantial growth, with considerable volumes sent to major markets. During […]

Indian Exports Maintain Quality Standards Amid Minor Spice Shipment Issues

India, News, Trade and Export Quality Standards

July 11, 2024

Commerce and Industry Minister Piyush Goyal emphasized on Wednesday that Indian exporters uphold stringent quality standards, addressing recent concerns over a few consignments of spices as “very very” minuscule and not indicative of broader issues. Goyal highlighted that the isolated incidents affecting certain spice shipments were minimal compared to India’s robust USD 56 billion […]

Port of Baltimore Imports Show Significant Growth After Bridge Incident

News, United States

July 11, 2024

Imports at the Port of Baltimore saw a substantial increase of 70.89% in May, following an incident where the Francis Scott Key Bridge was struck by a container skip, according to analysis of the latest U.S. Census Bureau data. In May, the total import value surged to $2.47 billion, marking a $1.02 billion rise from […]

Vietnam-China Trade Projected to Exceed $200 Billion in 2024

China, International Trade, News, Vietnam

July 11, 2024

Vietnam’s trade with China is set to surpass $200 billion this year, driven by strong growth in the first half of 2024. According to the Ministry of Industry and Trade (MoIT), bilateral trade has rebounded significantly, reaching nearly $95 billion in the first two quarters alone. The surge in demand from key markets has […]

New Export Duty on Parboiled Rice Proposed to Streamline Trade

News, Trade Policy

July 10, 2024

In a strategic move to streamline rice exports, the government is considering setting a fixed export duty of $100 per tonne on parboiled rice. This proposal aims to address issues of under-invoicing by exporters who currently face a 20% levy on this variety of rice. A committee, named the Rice Federation Consulting Committee, has […]

Nigeria’s Role in Intra-Africa Trade Highlights Regional Growth

Africa, International Trade, News

July 10, 2024

Nigeria has maintained its position as the fourth-largest contributor to intra-Africa trade in 2023, according to the Africa Trade Report 2024. The report indicates a slight decline in Nigeria’s intra-Africa trade volume, totaling $8 billion compared to $8.2 billion the previous year. Despite this decrease, Nigeria continues to account for a significant share of 4.2% […]

Indonesia Initiates Task Force with Business Chamber to Address Import Data Challenges

Indonesia, News

July 10, 2024

Indonesia’s Trade Ministry, under the leadership of Minister Zulkifli Hasan, has teamed up with the Indonesian Chamber of Commerce and Industry (Kadin) to launch a collaborative task force aimed at resolving discrepancies in import data. This joint effort comes in response to concerns over discrepancies between data reported by Statistics Indonesia (BPS) and exporting countries. […]

Vietnam’s Export-Import Activities Boost State Budget in First Half of 2024

International Trade, News, Vietnam

July 10, 2024

Vietnam’s state budget received a substantial uplift from export-import activities, amounting to 200.46 trillion VND (8.35 billion USD) in the first half of 2024, reflecting an 8.4% increase from the previous year. This achievement, highlighted by the General Department of Vietnam Customs (GDVC) on July 9, underscores the nation’s strong trade performance amid a dynamic […]

China’s Exports Show Resilient Growth Amid Global Trade Challenges

China, International Trade, News

July 10, 2024

China is poised to report a robust surge in exports for June, marking the sharpest growth in fifteen months. Analysts attribute this acceleration to proactive measures by manufacturers, who are ramping up shipments in anticipation of potential tariffs from key export markets. According to a recent poll of 31 economists, exports are expected to have […]

The International Trade Council is a global, peak-body, chamber of commerce that supports businesses and governments by providing resources, advocacy, and networking opportunities to promote international trade and foreign direct investment. It serves as a platform for organizations to collaborate, share knowledge, and navigate the complexities of global markets.

About the ITC

Resources

Legal

© 2024 - International Trade Council. A Peak-Body, International Chamber of Commerce.