Year: 2023

The value of global trade rose to a record $7.7 trillion in Q1 2022, an increase of about $1 trillion relative to Q1 2021, according to UNCTAD’s Global Trade Update published on 7 July. The growth, which represents a rise of about $250 million relative to Q4 2021, is fuelled by rising commodity prices, as trade volumes have increased to a much lower extent. Though expected to remain positive, trade growth has continued to slow during Q2 2022. “The war Read Full Details…

The 21 st edition of India International Mega Trade Fair commenced on December 16 showcasing Kolkata as the preferred destination for trade and commerce and as a retail hub. The 18-day fair, being held at the Science City grounds, would conclude on January 2. Thailand and Afghanistan are the partner countries, with Iran and Bangladesh being the focus countries for this year’s trade fair. The fair was inaugurated on Saturday officially by Alapan Bandyopadhyay, Chief Advisor to West Bengal Chief Read Full Details…

With the aim of promoting international trade of Indian spices, the Ministry of Commerce & Industry is hosting the 14th edition of World Spice Congress (WSC), in Mumbai from 16-18 February 2023. Known as the ‘Spice Bowl’ of the world, India produces a number of quality, rare and medicinal spices. The theme of the World Spice Congress is VISION 2030: S-P-I-C-E-S (Sustainability, Productivity, Innovation, Collaboration, Excellence and Safety). Further, it will host special state and commodity pavilions. The event will Read Full Details…

Economists have concluded that increasing exports and imports is a significant benefit that countries gain from admitting immigrants and international students. New research finds international students provide more of an economic boost than previously thought. International students benefit the United States in several ways, according to analysts. These benefits include providing a way for U.S. students to experience other cultures without leaving their college campuses. International students also subsidize the tuition that U.S. students pay, encourage more to enter technology-related Read Full Details…

Japan’s current account surplus logged a surprising surge to mark a record for November, as weakness in the yen drove income gains from portfolio investment and direct investment overseas to their highest level for the month. The surplus came in at ¥1.8 trillion ($13.7 billion), more than three times the median forecast of economists in a Reuters poll, also helped by an easing in the trade deficit. It is the first time in eight months that Japan saw a year-on-year Read Full Details…

China has amended the Foreign Trade Law to simplify registration procedures for foreign trade operators. From now on, companies and individuals no longer need to undergo registration and filing with local commerce authorities and will automatically obtain the right to import and export products to and from China. We explain the latest changes, what requirements are still in place for foreign trade operators, and how this may affect China foreign trade. On December 30, 2022, the National People’s Congress (NPC) Read Full Details…

China imported corn from Brazil by bulk carrier for the first time on Saturday, marking the official launch of a corridor for Brazil to ship corn to the world’s second largest economy, according to Xinhua News Agency. The ocean freight shipping will help China diversify corn importing sources at a time when its relations with the US, normally a big corn exporter to China, are increasingly uncertain, experts said. According to Xinhua, a ship carrying 68,000 tons of corn imported Read Full Details…