Day: January 6, 2023

Jan 06

Bangladesh garment exports to US soar in 2022

American orders for apparel made in Bangladesh are growing faster than U.S. imports from clothes manufacturing giant China, according to data compiled by the United States Department of Commerce through the first 10 months of 2022. Garment exporters and economists said Bangladesh was luring buyers in the U.S. and the European Union who have cut back on purchases from China. They said relatively low costs, reliability and easy labor availability are among the reasons for U.S.-based buyers increasing orders from Read Full Details…

Jan 06

Year-to-date dairy exports in growth, imports ease

Exports:UK dairy exports have overall seen an uplift in the year to date (January – October) totalling 1.03 million tonnes, up 3.5% (35,200 tonnes) when compared with the same period last year. There has remained mixed performance across the key product categories with cheese showing an 18% uplift on last year, and whey, milk and cream also showing positive growth (8% and 6% respectively). However, declines were seen for the other categories; powders and concentrates by 15%; butter by 10%; Read Full Details…

Jan 06

India’s exports flat at $32 bn in Nov; trade deficit narrows to $23.89 bn

The country’s merchandise exports grew at a modest rate in November 2022 after a sharp fall in October, the latest data shared by the commerce ministry shows. India’s merchandise exports in November grew to $31.99 billion as compared to $31.80 billion in the year-ago period. India’s merchandise exports shrunk 16.7% year-on-year to $29.8 billion in October 2022. The country’s merchandise imports surged 5.3% to $55.88 billion as compared to $53.03 billion a year before. The merchandise trade deficit for the Read Full Details…

Jan 06

Penalty Amounts Increased for Import, Export, FTZ, Other Violations

The Department of Commerce is increasing for inflation the civil monetary penalty amounts that may be assessed for the following regulatory violations after Jan. 15, including when the associated violation occurred before that date. The DOC notes that the actual penalty assessed for a particular violation will depend on a variety of factors. For more information on export penalties and how to avoid them, please contact attorney Kristine Pirnia via email.

Jan 06

Australian coal industry says China market matters less than before, even if import ban ends

Australia would benefit from a lifting of China’s ban on its coal but any gains would likely be modest as miners have largely redirected supplies elsewhere, analysts said. Shares of ASX-listed coalminers shot up on Wednesday after reports China was considering lifting its restrictions on coal imports from Australia from April. The ban was imposed in mid-2020 amid deteriorating bilateral relations that have since begun to improve. nvestors pared back their expectations of a significant boon for exporters on Thursday. Read Full Details…