Author: Editorial Desk

India has emerged as the sixth-largest apparel and textile exporter globally, accounting for 3.9 per cent of global trade in the sector. With textiles and apparel comprising 8.21 per cent of the country’s total exports, the industry plays a pivotal role in the global supply chain. In the first half of FY 2024-25, India’s textile and apparel exports reached $21,358 million, reflecting a 7 per cent year-on-year increase. According to the Ministry of Textiles, Ready Made Garments (RMG) spearheaded this growth, contributing 41 per cent of total textile exports with an export value of $8,733 million. Cotton textiles followed with…

Tunisia and Egypt have reaffirmed their commitment to enhancing their strategic partnership, focusing on strengthening economic and trade relations. The determination to advance bilateral cooperation was highlighted during a meeting between Egypt’s Ambassador to Tunisia, Bassem Hassan, and Tunisia’s Minister of Trade and Export Development, Samir Abid. The discussions centred on increasing trade volumes, leveraging regional cooperation frameworks, and utilising trade agreements to boost exports. Both sides emphasised the importance of addressing barriers to market access, coordinating customs policies, and eliminating non-tariff obstacles. They also highlighted the need to activate a direct shipping line between the two countries and encourage…

India witnessed a significant rise in petrol and diesel consumption during December 2024, as holiday travel and increased agricultural activity boosted demand, reversing the declines seen in previous months, according to preliminary data from state-owned fuel retailers. The three state-owned firms, which account for 90% of the fuel market, reported a 9.8% year-on-year increase in petrol sales, reaching 2.99 million tonnes compared to 2.72 million tonnes in December 2023. Diesel demand rose by 4.9%, totalling 7.07 million tonnes for the month. The growth in fuel demand was largely driven by increased road, air, and rail travel during the second half…

Uzbekistan has taken a significant step toward aligning its export support policies with international trade norms. On December 27, President Shavkat Mirziyoyev signed a decree aimed at harmonising the country’s export support mechanisms with World Trade Organization (WTO) agreements, according to the Ministry of Justice. The decree introduces amendments to the regulatory legal framework governing export financing. Among the notable changes is the cancellation of compensation for transportation expenses related to the delivery of goods abroad via air and rail, effective from 2025. However, subsidies and compensation for exports completed by December 31, 2024, will still be disbursed, with payments…

Pakistan’s exports of sports goods to China experienced notable growth in the first 11 months of 2024, with basketballs, footballs, and volleyballs worth $10.7 million shipped to the Chinese market. This marks a 6.68% increase compared to the same period in 2023, according to data from China’s General Administration of Customs. The increase underscores Pakistan’s rising reputation as a hub for high-quality sporting goods and reflects the deepening economic collaboration between the two nations. Renowned for its skilled artisans, Pakistan has long been a global leader in producing premium sporting goods such as footballs, basketballs, and volleyballs. The city of…

The global trade volume for major tropical fruits is anticipated to have reached a record $11 billion in 2024, according to a market review by the Food and Agriculture Organization (FAO) of the United Nations. This represents a 1.8% increase from 2023, though the growth rate has slowed compared to the previous decade due to adverse weather conditions in key exporting countries. El Niño-induced high temperatures and tropical storms adversely affected the quality and production of several fruits, including papayas from Guatemala and avocados and mangoes from Mexico and Peru. Mango exporters also faced logistical challenges such as limited flight…

The Chattogram port set a remarkable benchmark in container and cargo handling this year, driven by a surge in foreign trade and improved operational efficiency. As of December 29, the port managed 32.58 lakh TEUs (twenty-foot equivalent units) of containers, marking a 6.8 percent increase from last year’s 30.51 lakh TEUs and surpassing the previous high of 32.15 lakh TEUs in 2021. This includes approximately 17.62 lakh TEUs of imported containers and 14.97 lakh TEUs for export. Port officials project that an additional 15,000 TEUs will be processed in the final two days of the year, further extending the record.…

Saskatchewan’s agri-food exports to the United Arab Emirates (UAE) reached $322 million between January and October 2024, marking a 19% increase compared to the same period in 2023. Lentils led the way, accounting for $174 million, a 31% year-on-year rise, and representing 54% of the province’s total agri-food exports to the UAE. Agriculture Minister Daryl Harrison highlighted the significance of this growth in a statement. “The growth of agri-food exports to the UAE demonstrates the ongoing success of Saskatchewan’s strategy to strengthen our international agri-food export markets. Saskatchewan producers continue to provide sustainable, high-quality agri-food products to address global food…

Chongqing’s agricultural products are gaining significant global attention, with citrus fruits, chrysanthemums, and pickled mustard tubers making remarkable strides in international markets. Buyers from Southeast Asia have been particularly drawn to the region’s offerings, boosting exports and supporting rural revitalisation efforts. In Xiushan County’s Shidi Town, citrus fruits have become a symbol of international success. In 2023, Shidi made its first major export of 100 standard containers of citrus to ASEAN countries. These shipments, certified as independent brand origin products, marked a historic milestone. By 2024, export transactions for Shidi citrus surged to 12 million yuan (approximately $1.64 million), with…

The India-Australia Economic Cooperation and Trade Agreement (Ind-Aus ECTA) has completed two years, showcasing significant achievements that underline the complementary strengths of both economies. Since its inception, the agreement has enhanced trade relations, fostered growth for businesses, and created employment opportunities in both nations. As the agreement enters its third year, the Government of India remains focused on maintaining this positive momentum. This aligns with Prime Minister Narendra Modi’s vision for India to become a developed nation by 2047. Bilateral Trade Growth Under the Ind-Aus ECTA, bilateral merchandise trade has more than doubled, rising from $12.2 billion in 2020-21 to…