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New Zealand Industrial Machinery Imports

August 13, 2022 0Comments 287Views

New Zealand Machinery Imports Surged For First Time In A Decade

New Zealand machinery imports will grow further this year. The country has the biggest agriculture industry in the world, with about 17% of the total exports of New Zealand contributed by agriculture. Other than the industry of agriculture, construction, and tourism are two other industries that contribute to New Zealand’s GDP. The first two—agriculture and construction require machinery to work and operate in the market and drive revenue. Due to agriculture and construction being the biggest industries of New Zealand, the imports of industrial machinery are one of the largest imports of the European country. For the first time in a decade, the imports for industrial machinery surged and shows further growth in 2022. Machinery Imports In The Past Decade

Indonesia Withdrew Palm Oil Export Duties

July 27, 2022 0Comments 276Views

Indonesia Undo Export Duty On Palm Oil To Boost The Exports

Indonesia has put an end to the levied export duties on the exports of palm oil from the country, in order to boost the exports and take out from the high inventories of produced palm oil domestically. The decision from the Indonesian government comes after Indonesian palm oil producers were found to be struggling to keep up with the high inventories. Many experts believe that this might further down the prices of the commodity. The Top Exporting Country Palm oil is an edible vegetable oil that is a commonly available commodity in the group of oils. As per WWF, oil is a productive crop and has a greater yield at a low cost. Palm oil is found nearly everywhere in

July 25, 2022 0Comments 385Views

U.S. Trade of Goods Reached US$1.2 Trillion in Q1 of 2022

The total trade of the United States of America has reached a new high in the first three months of 2022. According to our database, the combined value of imports and exports increased to US$1.2 trillion in Q1 of 2022 from US$1 trillion recorded in the same quarter of 2021. By chapter, the country saw a major rise in imports of machinery, mechanical appliances, etc., electrical machinery & equipment, vehicles other than railway or tramways, and mineral fuels & oils. Major gainers from the export category were mineral fuels & oils, machinery, mechanical appliances, etc., and electrical machinery & equipment. Here’s a comparison of US trade data for 2022-Q1 and 2021-Q1. U.S. Trade Increased In Q1 of 2022 (Y-O-Y Comparison)

May 10, 2022 0Comments 239Views

Turkey’s Barley Imports Increased Sharply in 2021 Due to Low Production

Turkey has reported a sharp increase in barley imports in 2021 due to low production. According to our database, Turkey’s barley imports totalled US$668.6 million in 2021, a rise from the 2020s US$163.4 million. Russia and Ukraine were the top suppliers of barley to Turkey. Turkey produced about 4500000 MT of barley in 2021, down by 44.44% as compared to the previous year. Get a complete picture of Turkey imports of barley and barley production in Turkey for detailed and better analysis. Barley Production in Turkey (2012-2021) Despite the decline in the assessment of domestic consumption, a significant reduction in barley production creates the need to increase grain imports, the volumes of which this season may become record-breaking. In 2021,

April 30, 2022 0Comments 336Views

Dried Spices Market: The Growing Line of Ancient Commodities

Spices are the most ancient form of food commodities in the world, introduced by Asian nations such as India and China, and traded by Arab nations such as Saudi Arabia and Egypt, in the medieval period. The history of spices goes a long way back to human civilization’s growing age, especially expanding their horizon to other regions, which led to the discovery of spices (including dried spices). In the present times, the market of spices, specifically the dried spices market has made its way to a growing compound annual growth rate of 4.6%, and it is due to see a growing impact in the food industry. Being used as a “food-enhancer”, the dried spices are expected to reach a value

April 28, 2022 0Comments 296Views

Sri Lanka Economic Crisis – Sector-wise Snapshot of Sri Lankan Trade

India’s southern neighbour, Sri Lanka is struggling with the worst economic crisis since independence in 1948. The island nation is on the brink of bankruptcy, with nearly USD 7 billion of its total USD 25 billion in foreign debt due for repayment this year. A severe shortage of foreign exchange means the country lacks the money to buy imported goods. The people of Sri Lanka are facing severe shortages of essential items like food, cooking gas, fuel, and medicines. In terms of trade, Sri Lanka is not having enough money to buy goods from other countries and to manufacture commodities in their own country for meeting rising demand & export to other nations as well. That is why Indian exporters

April 6, 2022 0Comments 362Views

Sri Lanka’s Worst Economic Crisis, Imports Tough; Countries Helping

Sri Lanka’s economic crisis is wreaking havoc with multiple factors pushing pressure on authorities and eventually citizens of Sri Lanka. The Southeast Asian country is also facing troubles with managing the inbound shipments and imports to maintain inventories. Sri Lanka imports grew by 71.63% year-on-year in February 2022, revealed from Sri Lanka import data. It has become increasingly intense for Sri Lanka to allow the imports and most importantly, pay for the importation of commodities required in the country right now. Few countries have lent hands to Sri Lanka for the current circumstances prevailing. Sri Lanka Imports Sri Lanka is already in debt to other countries and is finding it tough to make imports in the country at the current

March 14, 2022 0Comments 318Views

UK To Cut Off The Trade From Canada For Hormone-Treated Beef

In the early trade negotiations to be conducted between both the regions, the UK is stringent on maintaining its food safety and animal welfare standards. The UK imports about 35% of beef and veal combined annually. Out of approximately 1.5 million tonnes of beef each year, Canada exports around 45% of its produced beef and cattle production. Canada has urged the UK to lift the hormone-treated beef imports ban. UK’s department for international trade said in a statement recently that Canada cultivates a highly hormone-induced beef. As per the UK’s high food safety standards and animal welfare, trade negotiations with other countries must comply with the UK’s import regulations. Is UK A Beef Importer or an Exporter? According to the

Ukraine Clean Energy Market Amid Russia-Ukraine War

March 11, 2022 0Comments 250Views

How Ukraine Clean Energy Market Is Valuable To Russia and the EU?

Russia-Ukraine war is causing troubles across nations as many commodities prices have peaked high, while shipment delays from both Russia and Ukraine are also causing bottlenecks in the supply chain. There are commodities that countries import from both Russia and Ukraine, such as wheat, for which both countries account for 29% of global exports. On the other hand, for the exports of corn, both countries account for around 19% of the global exports. The shortage of commodities is evident in many countries, especially the EU, which accounts for 30-40% of Russian crude oil exports. A big proportion of the market in the EU imports Russian oil to fuel its factories and power plants, fulfilling the energy demand in the region.