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Japan Experiences Robust 10% Surge in Exports Boosted by Auto Demand and Revived Trade with China

January 24, 2024

In a positive turn of events, Japan’s exports witnessed a remarkable surge of nearly 10% in December compared to the previous year. This substantial growth was attributed to a revival in trade with China and a robust demand for vehicles, machinery, and computer chips. Preliminary customs data released on Wednesday revealed a notable trade […]

EU Adapts Inspection Frequencies for Imported Food Products, Balancing Rigor and Compliance

January 24, 2024

The European Commission has introduced changes to the frequency of inspections for various imported food products, signaling a nuanced approach to safety measures. The revised legislation, which governs official controls and special conditions for non-animal origin food and feed entering Europe, undergoes adjustments every six months. Informed by data from the Rapid Alert System […]

South Korean Water Purifiers Break Export Records in 2023, Poised for Global Expansion

January 24, 2024

In a significant milestone, South Korean water purifiers achieved record-breaking exports in 2023, propelled by their exceptional quality, design, and service. With a growing global demand for clean and healthy water, Korean water purifiers are poised to accelerate their expansion into international markets. Data from the Korea Trade-Investment Promotion Agency (KOTRA) revealed that South […]

Philippines Retains Top Spot in Global Rice Imports for 2024

January 23, 2024

In a recent report by the United States Department of Agriculture (USDA), the Philippines is anticipated to maintain its position as the world’s leading rice importer for the year 2024. The surge in local rice prices, reaching a 14-year high, has contributed to this projection. The USDA’s Economic Research Service outlined an estimate of […]

German President and Business Delegation Seek Opportunities in Vietnam for Collaboration and Investment

January 23, 2024

A prominent German business delegation, featuring key players in tunnel machines, wind farms, and industrial supplies, is accompanying President Frank-Walter Steinmeier on a visit to Vietnam starting Tuesday. This visit aligns with Berlin’s strategy to diversify economic ties, emphasizing Vietnam’s significance as a partner to broaden activities beyond China. German companies have already invested over […]

Vietnamese Seafood Poised for Success in Switzerland’s Growing Market

January 23, 2024

Vietnamese businesses are encouraged to explore the promising potential of seafood exports to Switzerland, a key trade official has emphasized. Nguyen Duc Thuong, the Commercial Counsellor at Vietnam Trade Office in Switzerland, highlighted the significant opportunity for Vietnamese seafood exporters in Switzerland, a landlocked country heavily reliant on seafood imports. Vietnam currently stands as […]

India Witnesses Surge in Electronics Exports Fueled by Smartphone Manufacturing Success

January 23, 2024

India is experiencing remarkable growth in electronics exports, primarily driven by increased production and exports from major smartphone manufacturers. According to data from the India Cellular and Electronics Association (ICEA), electronics exports from India reached a record high of over $20 billion in the first nine months of fiscal 2024 (April 2023 to March 2024), […]

European Commission Unveils Plans to Strengthen EU Economic Resilience

January 23, 2024

In an effort to bolster the economic resilience of the European Union, the European Commission is set to reveal comprehensive plans that highlight increased scrutiny of foreign investments and stricter controls on exports and technology outflows, with a particular focus on rivals like China. The EU executive will present an extensive document for discussion, accompanied […]

Guatemala Emerges as Potential Global Banana Export Leader, Surpassing the Philippines

January 23, 2024

In a potential shake-up of global banana export rankings, preliminary findings from the United Nations’ Food and Agriculture Organization (FAO) indicate that Guatemala may have overtaken the Philippines in 2023. The Philippines, holding the second position for six consecutive years, faces a possible dip in its standing. According to early data from the […]

Chinese Pomelo Exports Showcase Strong Resilience and Growth

January 23, 2024

As the pomelo season concludes in Pinghe county, a festive atmosphere sets in, marking a moment of reprieve for locals after a bustling harvest period. Reviewing the achievements of the past year, China Customs’ 2023 figures reveal a notable upswing in pomelo exports, particularly to the Netherlands. The data points to a significant increase […]

Saudi Arabia Boosts Crude Oil Exports to Five-Month High in November

January 22, 2024

In a recent report from the Joint Organizations Data Initiative (JODI), Saudi Arabia, the world’s leading crude oil exporter, experienced a notable uptick in crude oil exports, reaching a five-month high in November. According to JODI data, crude oil exports rose by 39,000 barrels per day (bpd), totaling around 6.34 million bpd, surpassing the October […]

EU’s 6-Billion Euro Growth Plan Poised to Transform Western Balkans

January 22, 2024

In a groundbreaking development, the European Union’s 6-billion-euro growth plan for the Western Balkans is being hailed as a potential game-changer that could lead to a doubling of regional economies in the coming decade, according to an EU official. Leaders from the six Western Balkan countries, including Albania, Bosnia, Kosovo, Montenegro, North Macedonia, and Serbia, […]

Sri Lanka and Thailand Forge Historic Free Trade Alliance, Boosting Bilateral Economic Prospects

January 22, 2024

In a groundbreaking economic development, Sri Lanka and Thailand are gearing up to ink a transformative Free Trade Agreement (FTA) on February 3rd, signaling a strategic move poised to elevate bilateral trade to an impressive US$ 1.5 billion. The signing ceremony, graced by the visit of Thailand’s Prime Minister, Srettha Thavisin, is anticipated to strengthen […]

Dubai’s Resilient Economy Shows Robust Growth of 3.3% in the First Nine Months of 2023

January 21, 2024

Dubai continues to demonstrate economic resilience as its gross domestic product (GDP) experienced a commendable growth of 3.3% in the period spanning January to September 2023, according to data released by the state news agency WAM on Sunday. In this impressive economic landscape, key sectors played pivotal roles in driving growth. Accommodation and food […]

South Korea’s Fermented Delicacy Achieves Record Exports in 2023

January 21, 2024

In a remarkable feat fueled by the worldwide fascination with Korean entertainment content, South Korea’s iconic dish, kimchi, achieved record-breaking export figures in 2023. According to data unveiled by the Korea Customs Service, outbound shipments of kimchi, a traditional Korean side dish made from fermented cabbage, surged by 7.1 percent, reaching an impressive 44,041 tons. […]

China Celebrates Resilient Rebound in Australian Coal Imports, Marking Positive Shift in 2023

January 19, 2024

In a significant development, China experienced a notable rebound in coal imports from Australia throughout 2023, marking a positive shift following a nearly two-year ban. However, import levels remained below those observed in the pre-ban era, as Australia worked to regain market share amid stiff competition from other countries. According to customs data, China […]

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