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August 1, 2024

Daisy

China, International Trade, News

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As external demand and supportive policies improve, China’s trade in goods reached a new high in the first half of 2024, with overall foreign trade exceeding 21 trillion yuan ($2.9 trillion), and export growth in June of 10.7 percent year-on-year, exceeding all expectations.   The improving external demand and accelerated development of new business forms […]

The International Trade Council reports that Australian wine exports have reached a significant AU$2.2 billion, reflecting both positive developments and ongoing challenges in the market. This increase is largely attributed to a resurgence in exports to mainland China, where volumes jumped from 1 million litres to 33 million litres and the value surged by AU$392 […]

July 31, 2024

Daisy

China, International Trade, News

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China remains the foremost export market for Papua New Guinea (PNG). During a recent groundbreaking ceremony for the Sea Park Development in Port Moresby, the Minister for International Trade and Investment emphasized China’s critical role in PNG’s export economy.   The Minister highlighted the robust trade relationship between the two nations, noting, “China is the […]

July 31, 2024

Daisy

International Trade, News

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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 […]

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 […]

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 […]

July 30, 2024

Daisy

International Trade, News

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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 […]

July 29, 2024

Daisy

Africa, International Trade, News

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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 […]

July 29, 2024

Daisy

International Trade, News

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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, […]