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Archive for the ‘News’ Category

Trade Balance Shows €80 Million Surplus in May

International Trade, News

July 30, 2024

The trade balance posted a surplus of â‚ ¬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 â‚ ¬2.0 billion. The overall trade surplus by commodity group, including products from the mechanical […]

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 â‚ ¬5 billion, marking a 4% increase compared to April 2023, despite a 25% reduction from the previous month. Exports totaled â‚ ¬19.8 billion, primarily driven by rising prices of olives and olive oil, while imports were valued at â‚ ¬14.8 billion. Key import categories included […]

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 […]

South Korea’s Act on the Fairness of Supply Contracts (2021) – Logistics Sector Focus

Supply Chain

July 25, 2024

South Korea’s Act on the Fairness of Supply Contracts (2021) – Logistics Sector Focus

South Korea’s Act on the Fairness of Supply Contracts, originally passed to address imbalances between large corporations and their subcontractors, underwent key amendments in 2021 to enhance transparency and accountability across critical sectors—including logistics. The revised law specifically targets freight, warehousing, and related service agreements, aiming to prevent unfair practices such as opaque pricing, hidden […]

Türkiye’s Spice Exports See Major Growth Amid Rising Global Demand

International Trade, News, Turkey

July 25, 2024

A significant increase in TÁ ¼rkiye’s spice exports, driven by strong international demand. In the first half of 2024, TÁ ¼rkiye’s spice exports soared by 27%, climbing from $89 million to $113 million. The industry is targeting a substantial $250 million in exports by year-end.   Known for their ability to enhance flavor and reduce […]

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 […]

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