#China Trade Surplus 2024

[manmishra]

China's Record $990 Billion Trade Surplus in 2024: A Global Manufacturing Powerhouse

China’s trade dynamics have become a focal point of global economic discussions. The nation announced a record-breaking trade surplus of $990 billion in 2024. This staggering figure highlights China’s dominance in global manufacturing.

China’s trade dynamics have become a focal point of global economic discussions. The nation announced a record-breaking trade surplus of $990 billion in 2024. This staggering figure highlights China’s dominance in global manufacturing. It raises significant questions about the sustainability and implications of its economic strategy. China’s Unprecedented Trade Surplus According to the General…

[allthebrazilianpolitics]

The junk and the jangada: a route for academic collaboration between China and Brazil

The University of São Paulo (USP), a leader in scientific production in Latin America, and China, a global power in science and technology, share a common vision: That research and academic collaboration are the foundations for building a more equitable, sustainable, and innovative future.

This synergy takes shape at the USP-China Center, a strategic initiative of the USP President’s Office, aiming to strengthen the dialogue between the two nations, whose contributions to science and culture transcend borders.

This movement towards rapprochement takes place at a unique moment in the world’s geopolitical overlook, with territorial disputes and armed conflicts in different regions around the world and the recent victory of protectionist projects in countries with regional and global influence. In a recent article on Folha de S. Paulo Chinese President Xi Jinping invited Brazil to sail together with his country “under full sail”. But how can the Chinese junk and the Brazilian jangada sail together quickly and safely in such turbulent geopolitical seas? The way to go seems to be cooperation and multilateralism in academic relations.

China is Brazil’s main trading partner, and bilateral trade reached US$110 billion in 2024, resulting in a surplus of US$29 billion for Brazil. But the partnership between the two countries goes beyond trade and has immense potential in the academic sphere. China, a global leader in areas such as data science and engineering, finds in Brazil, with its expertise in sustainability, biodiversity, agriculture, and food safety, a partner of complementary strengths.

However, the enormous potential of the Chinese Brazilian partnership in science and technology faces substantial challenges. Language and cultural barriers still hinder academic exchange, and geographical distance imposes high costs on students’ and researchers’ mobility. In addition, the administrative centralization of Chinese institutions contrasts with the fragmentation of the Brazilian academic system, requiring coordinated efforts from both sides for more dynamic academic collaboration between the institutions of the two countries to flourish.

Continue reading.

[readitagain]

The impact of Donald Trump’s victory on global relations: A focus on China and Ukraine

Donald Trump’s election victory in 2024 will have significant consequences for global geopolitics, particularly for two countries—China and Ukraine.

Impact on China:

Trump's victory is expected to have a predictable yet significant impact on U.S.-China relations. President-elect Donald Trump has indicated plans to impose up to 60% import tariffs on Chinese goods, prompting China to prepare for the potential economic headwinds. In early response, the Standing Committee of China's National People's Congress (NPC) held its session from November 4 to 8, several days later than initially planned, to finalize stimulus measures in light of the U.S. election outcome. Had Kamala Harris won, the stimulus might have been smaller; however, with Trump as president-elect, a more substantial stimulus was approved. Soon after the U.S. election, China introduced a large-scale stimulus package totaling RMB 10 trillion ($1.4 trillion) and hinted that even more stimulus would come in the near future. This move highlights the intense pressure China foresees from Trump’s trade policies. If these tariffs are enacted, China’s GDP could contract by 1 to 2 percentage points, according to Bloomberg and Goldman Sachs experts’ estimation. Under pressure from U.S. import tariffs, China may need to redirect its goods to new markets in Southeast Asia, the Middle East, and South America to maintain its trade surplus, plus as China simply can’t fully count on its local demand, considering its current dullness. Yet, the problem is that the regions mentioned above, in case of excessive Chinese imports, may impose additional anti-dumping (AD) duties, as they may struggle to absorb large volumes of Chinese goods without threatening their local producers.

Thus, to counter the potential negative effects of U.S. tariffs, China is likely to respond by depreciating its currency to keep its exports competitive. Even though the RMB currently is set at a 14-month low level, JP Morgan anticipates that the Dollar-Yuan pair will plunge even lower, reaching 7.4 while UBS expects it set at 7.6 level, in case 47th American president fulfills his elections pledges.

The known composition of Trump’s administration—including individuals with a history of hostility toward China, some of whom even have previously faced Chinese sanctions. That indicates that the U.S. is likely to continue a hardline approach against China, which is definitely a negative development for China’s economy and its long-term trade strategy.

On the other hand, if the proposed tariffs on China are implemented, China won’t face these measures alone, as similar tariffs are expected to target imports from Europe, Mexico, Canada, and others. Additionally, it remains uncertain whether tariffs will actually reach the 60% level. Given Trump’s business-oriented approach, he may prefer to pursue a resolution through negotiations, aiming to protect American interests while potentially offering concessions to trade partners if certain goals are met.

Impact on Ukraine:

Turning to Ukraine, the situation is more complex. With Trump’s inauguration on January 20, 2025, one pressing question remains: Can Donald Trump stop the ongoing war in Ukraine? His past statements, including a claim that he could end the conflict within 24 hours, along with reports of a recent phone call to Putin aimed at de-escalation, etc., suggest that he may indeed pursue a resolution to the Ukraine-Russia war.

At the same time, Trump’s reluctance to involve the U.S. in conflicts, especially through financial and military support, suggests that Ukraine could see a substantial reduction in aid, particularly after 2025. Trump’s newly appointed Secretary of Defense, Pete Hegseth, exemplifies the pro-American officials who are pragmatic enough to avoid entangling the U.S. in conflicts that may be more costly than beneficial. “If Ukraine can defend themselves... great, but I don’t want American intervention driving deep into Europe and making [Putin] feel like he’s so much on his heels,” Reuters cited Pete Hegseth.

Meanwhile, Volodymyr Zelensky has consistently refused to consider any ceasefire that would involve territorial concessions to Russia. His ultimate goal remains to restore Ukrainian control over all territories as of 1991, including Crimea and parts of the Donetsk, Luhansk, Zaporizhzhia, Kherson and Kharkiv regions, which have been seized by Russia.

At the outset of the full-scale war launched by Russia on February 24, 2022, Zelensky’s determination to reclaim all Ukrainian territories was strongly supported by Ukrainian citizens and much of the international community. However, as the conflict has dragged on with mounting casualties among Ukrainian soldiers and civilians, public opinion has gradually shifted, with some prioritizing peace and an end to the bloodshed over the goal of full territorial integrity.

Thus, faced with dwindling support, Zelensky may eventually agree to a ceasefire agreement, perhaps with significant portions of Ukrainian territory—being ceded to Russia. How much Ukrainian territory might ultimately fall under Russian control remains uncertain. If Trump initiates truce talks between Russia and Ukraine within one to two months after his January inauguration, the Russian army may intensify efforts over the next two to three months to occupy as much Ukrainian territory as possible. Their objective would likely be to secure control over four regions—Donetsk, Luhansk, Zaporizhzhia, and Kherson—which Russia claims as its own under its “constitution”. However, Russia’s chances of fully capturing all four of the aforementioned Ukrainian regions within two to three months are close to zero.

Since accepting the loss of Ukrainian sovereign territory could mark the end of Zelensky’s political career, or even threaten his personal safety, his survival may depend on stepping down before any truce agreement is signed—allowing a new president to bear the responsibility for any compromises made. This would allow Zelensky to preserve his image and pass as not only a Ukraine protector, an elected president who has not “zabronzovel” (became an authoritarian leader, with indisputable authority) but gave away his power in democratic way through the national elections.

If this scenario plays out, the nature of the post-war economic landscape will be shaped by Ukraine’s continued dependence on foreign aid, albeit less focused on infrastructure and production, and more on sectors like agriculture and mining of mineral resources. The country will likely maintain some level of cooperation with American and European companies, though Ukraine will remain fragile in the short term due to safety concerns for the foreign big business.

Finally, for two-three years after the war, Ukraine will likely continue to enforce its current border restrictions for men aged 18 to 60, ensuring that the country retains a workforce for reconstruction efforts.

Conclusion:

In conclusion, Donald Trump’s election victory will not likely lead to profound shifts in U.S. foreign policy, yet have a significant impact particularly on China and Ukraine. While China faces economic challenges and uncertainty under Trump’s leadership, Ukraine’s immediate future hinges on its ability to navigate the complexities of the war and negotiate a potential ceasefire. Both countries will have to adapt to a changing global landscape shaped by Trump’s business-focused, and often unpredictable approach to international relations.

[argumate]

Although we can expect flexibility on the downside, China’s 2024 GDP growth target of 5 percent is nonetheless aggressive given the headwinds. There are debt constraints on a major revival of investment—whether in the property sector, infrastructure or manufacturing—as well as global demand constraints on a surge in China’s trade surplus.

This leaves consumption as the only potential engine of growth in 2024. But while it is theoretically policy that a sudden change in confidence will cause Chinese households to cut back on saving and to increase spending, there is as of yet no reason to expect this to happen. That is why even though most analysts believe that Beijing is ideologically opposed (as “welfarism”) to any program that involves borrowing money to distribute directly to the household sector, I expect Beijing to change its views and—perhaps by second or the third quarter—to unleash a demand-side fiscal boost targeted at delivering income to the household sector.

bold prediction from Pettis here, would be good if it happens

[a-path-beyond84]

There are massive differences between Germany in 1933 vs. America in 2025.

One major appeal of Hitler was that he would undo Versallies and reconstitute the German nation. It's not entirely clear that war vs. the western powers was ever inevitable: it's not only possible but plausible that Hitler would have been content with reconstituting the German state had Poland ceded Danzig back to Germany. My sense at the moment (though this is provisional) is that Hitler & Stalin were likely to come to blows regardless. The National Socialists famously had a very anticommunist ideology and desired territory in the east (the victorious allies did continue starving Germany via blockade for months even after the armistice was signed, so the drive for German self sufficiency is understandable). I like manner, Stalin's own Soviet Union had a strong expansionist bent.

The depths of the economic problem in Germany was much greater, but aside from that there was also the humiliation of WWI and Versailles. Hitler was incidentally rather successful at economic revival, with the German economy recovering much better than other countries during the 1930s, especially the United States due to generally poor economic policies under FDR. The United States fell back into recession in 1937-1938 and remained stuck with high unemployment throughout the decade, whereas German GDP was 50% above its prior peak by the end of the 1930s and unemployment was almost unheard of.

How does that compare to today?

There is no humiliation from losing a recent war. Yes, America was defeated by the Taliban, but that was a far away country and in losing we just left. It is not as if Texas, California, Oregon and Alaska were carved away into new nations by victorious great powers.

Today's America has low unemployment and very high GDP. On that front, there isn't much to be done. The Democrats likely were hurt by the cumulative impact of inflation under Biden, but the inflation rate mostly recovered to normal by 2024 and there is no prospect for the price level ever coming back down. The economic challenge for America today is to improve its dangerous fiscal situation, and build supply chains for industry and technology which at a minimum are not dependent on China given that it has now entered great power competition with that country. Generating higher quality full time jobs I would say is a secondary concern, and some of that would probably consist of deemphasizing college education, as excesses there has likely made America economically weaker. America has a surplus of college educated people working in low paid service jobs and a deficit of handy people working in higher paid trades jobs.

In contrast to Hitler's disdain for the Jews, Trump has a close relationship with wealthy and powerful Jewish individuals (e.g. Miriam Adelson) and will likely be a stronger supporter of Israel than even the outgoing Biden Administration. Indeed, there is a heightened risk of American involvement in a war against Iran, a war which will ultimately only serve Israeli interests.

One similarity between America in the 2020s and Germany in the early 1930s is social degeneracy, especially sexual degeneracy which degrades the ability of a nation to sustain itself. It is likely that reaction against wokeism is a significant factor in Trump's victory. While Hitler's Germany largely eliminated public displays of sexual perversion in the 1930s, Trump has made peace with significant elements of it, though has cracked down on radical transgenderism in particular.

Yo, correct me if I am wrong please, but didn't Hitler rise to power because he promised to fix the German economy and people really liked that so they looked past everything else he was doing??? Like exactly what's happening in America right now???

So many people said they voted for Trump, put a truly evil person in power, because he said he'd fix the economy, and a little voice in my head is going, "Isn't that what happened with fucking Hitler??"

But I've seen no one point that out so maybe I'm miss remembering???????

[holgerzschaepitz]

OOPS! #China's trade surplus soars to $1tn in 2024, 21% higher than the previous year, as exporters rushed to make up for sluggish demand at home and get ahead of Donald Trump’s return to the White House.

[newsmatik]

China's trade surplus will hit an annual record of nearly $1tn

Stay informed with free updates Just sign up to Chinese market myFT Digest — delivered directly to your inbox. China’s trade surplus with the rest of the world is set to hit a record close to $1tn by 2024, official data showed on Monday, just weeks before Donald Trump takes office took office and promised to impose punitive tariffs on the US’s biggest economic competitor. China’s $992bn trade…

[samacharapp]

Rupee Hits Record Low, Sensex Tumbles: How Will Sitharaman Navigate Budget Amidst Global Pressures?

With her hands tied, what actions will Union Finance Minister Nirmala Sitharaman take in the Union Budget 2025to give a fillip to the stock market, encourage capital expenditure or boost exports when the rupee will remain vulnerable?

Days before Finance Minister Nirmala Sitharaman presents Union Budget 2025-26, the Indian Rupee has hit the record low and touched 86.2050 against the US Dollar on Monday. Is it just a coincidence that BSE Sensex tumbled 800 points down when the opening bell rang? How will these two factors among others impact first full Budget of Modi 3.0?

The Indian Rupee came under pressure after the US job data showed the addition of 2,86,000 new jobs last month, indicating that the Federal Reserve may hold at least for some time any decision to slash the interest rate as the unemployment rate has come down to 4.1% surprisingly.

There are other factors too like increased yield on US Treasury bills.

Will Weak Rupee Complicate Issues For Nirmala Sitharaman?

The weakness of currency indicates that the foreign reserve has come under pressure due to less-than-expected export figures. It may further complicate the problem for those industries that depend heavily on imports for capital expenditure and raw materials.

A weak Rupee may increase the input cost for these industries.

The Union Budget 2025-26 is also coming at a time when the US-India trade ties may have a fresh start with President-elect Donald Trump having already repeatedly announced his plans of imposing puitive tariffs on goods from China, India, Canada ad Mexico.

Will Donald Trump’s Inauguration Impact Union Budget?

Trump announced on the campaign trail his decision to implement the “America First” policy and reiterated it after he got elected.

Trump will take oath as the US President on January 20, more than a week before Nirmala Sitharaman will present her budget in Lok Sabha on February 1.

Earlier in 2024, the rupee declined 5 paise to hit 83.71 against the greenback after Nirmala Sitharaman raised tax rates on capital gains in the Budget.

As the currency is already under pressure, the Finance Minister will not have the leverage to take any decision that may further erode foreign reserves and push the Rupee against the US Dollar.

FIIs Sale Indian Stocks

Earlier, the FIIs sold securities worth Rs 22,259 crore in less than ten trading sessions so far this year. The net outflow of Rs 1.20 lakh crore took place last year. The weakening of the rupee has been the biggest factor, which still continues.

The further outflow of the weakening of the rupee against the dollar is not unexpected as the 2-year-US Treasury bills will soon hit the market, and the FIIs may get tempted to further offload their Indian stocks.

It is most likely to take place before February 1, when the Finance Minister will present her 8th Union Budget. Nirmala Sitharaman may come under pressure if it happens.

The imposition of tariffs on Indian goods may be another US factor impacting the Union Budget 2025-26. The bilateral trade is in favour of India with a trade surplus of $35.3 billion in 2023-24.

Trump earlier announced to imposition of punitive tariffs on Indian goods to encourage the US manufacturers under the America First policy.

Finance Minister Nirmala Sitharman will present the Union Budget 2025-26 under these constraints, among many others.

Earlier, Goldman Sachs said that the Finance Minister should strike a balance between growth and fiscal discipline considering the rising public debt and fiscal deficit.

The fiscal deficit has been rising over the years. The government earlier announced to limit the fiscal deficit to 4.9% of the GDP for FY 2024-25 and 4.5% to FY 2025-26.

With her hands tied, what actions will she take to give a fillip to the stock market, encourage capital expenditure or boost exports when the rupee will remain vulnerable?

News is originally taken from: https://bit.ly/40czAzd

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[isfeed]

China’s Trade Surplus Reaches a Record of Nearly $1 Trillion

China’s vast exports in 2024 exceeded its imports on a scale seldom seen anywhere except during or immediately after the two world wars. Source: New York Times China’s Trade Surplus Reaches a Record of Nearly Trillion

[exportimportdata13]

The Major Exports from America: Key Products, Export Data, and Trading Insights

The United States stands as a global powerhouse when it comes to both imports and exports, with a remarkable capacity to influence the global economy. With a trade surplus in services but a notable deficit in goods, the U.S. remains the world's largest trading nation. In this article, we explore the key exports from America, its biggest export products, and its trading relationship with countries like India. We also delve into the updated U.S. export data for 2024-2025.

America's Biggest Export Products

The United States has a diversified export base, with refined petroleum, crude petroleum, and petroleum gas leading the charge. In fact, America’s biggest export includes these vital energy products that continue to fuel not only domestic industries but also global markets. In 2025, the leading exports from America are:

Refined Petroleum ($138 billion)

Crude Petroleum ($118 billion)

Petroleum Gas ($116 billion)

Cars ($57.5 billion)

Integrated Circuits ($49.8 billion)

These products reflect the U.S.’s global role in energy production and technological innovation. Additionally, the export of vehicles and integrated circuits showcases America’s prowess in advanced manufacturing and cutting-edge electronics. Together, these products underscore the diverse and high-value export sectors that the U.S. specializes in.

Trends in U.S. Exports: 2024-2025 Data

The U.S. economy has experienced significant fluctuations in trade balances in recent years. According to the most recent U.S. export data, the country’s export numbers showed a modest increase in 2024-2025. The U.S. exported $177 billion in goods in October 2024, while imports amounted to $289 billion, resulting in a $112 billion trade deficit. Despite this, exports from America have steadily increased over the years, especially in sectors such as machinery, electronics, and energy products.

Notably, exports from America rose by 3.7 percent, or $94 billion, in 2024 compared to the previous year. On the other hand, imports also saw a notable increase of 5.4 percent, amounting to $174.7 billion. The country’s trade relationship with nations such as Canada, China, and Mexico remains crucial, as these are among the largest trading partners of the United States.

The top five exports from the U.S. in 2025 are dominated by energy-related products, which reflect the nation's abundant natural resources and technological expertise in energy processing. While petroleum and cars top the list, America’s advanced manufacturing capabilities in areas such as integrated circuits and machinery also represent significant sectors of export.

America's Trade Relations with India

The U.S. maintains a dynamic trade relationship with India, one of its key partners in Asia. Exports from America to India have seen consistent growth, with major items in demand across various industries. Some of the leading exports from America to India include:

Mineral Fuels, Oils, Distillation Products - $11.02 billion

Pearls, Precious Stones, Metals, Coins - $5.51 billion

Machinery, Nuclear Reactors, Boilers - $2.88 billion

Aircraft, Spacecraft - $2.69 billion

Electrical, Electronic Equipment - $2.04 billion

These items represent both high-value commodities and technological innovations. India's demand for energy products like mineral fuels, oils, and distillation products, as well as high-tech machinery, reflects the growing economic ties between the two nations.

India also imports a wide range of other products from the U.S., including optical, photo, technical, and medical apparatus, plastics, and organic chemicals. This trade relationship is vital to both economies, with India emerging as a major importer of U.S. goods in recent years.

The Role of Major Exporters in the U.S. Economy

The export activities of some of the largest companies in the United States contribute significantly to the country’s global trade. Major exporters in the USA include multinational corporations that dominate various sectors:

Apple Inc.

ExxonMobil

Chevron Corporation

Ford Motor Company

General Motors

Pfizer Inc.

Johnson & Johnson

Cisco Systems

Procter & Gamble

Intel Corporation

These companies play a crucial role in driving U.S. exports, particularly in industries such as technology, energy, automotive, pharmaceuticals, and consumer goods. Apple Inc., for instance, is not just an icon in tech; it is also one of the largest exporters from America, particularly in consumer electronics like smartphones and computers. Similarly, energy giants like ExxonMobil and Chevron continue to lead the way in petroleum exports, contributing billions of dollars to the U.S. economy.

U.S. Trading Partners and Global Trade

In 2025, the United States will continue to rely on key trading partners for its global exports. USA trading partners include Canada, Mexico, and China, with these countries accounting for the largest share of trade with the U.S.:

Canada - $665.6 billion

Mexico - $661.2 billion

China - $655.4 billion

Japan - $209.5 billion

Germany - $200.5 billion

Canada remains the U.S.’s top trading partner, with the close geographic proximity and similar economic structures facilitating trade. China, despite recent tensions, continues to be a significant trade partner, particularly for the U.S. exports of technology products and agricultural goods.

Challenges and Opportunities for U.S. Exports

While the U.S. remains a global trade leader, challenges persist, especially in balancing the trade deficit and managing trade relations with countries like China and Mexico. The U.S. continues to explore new opportunities for expanding exports, particularly in high-value sectors such as aerospace, technology, and energy.

Maintaining a competitive edge in the global marketplace requires constant innovation and adaptation to market demands. As more countries, including emerging markets like India, continue to demand high-tech and energy products, the United States will remain at the forefront of global trade.

Conclusion

The exports from America are crucial to the global economy, with the U.S. continuing to dominate key sectors such as energy, technology, and automotive. The country's trade relationships, particularly with nations like India, will continue to evolve, offering opportunities for businesses to expand and thrive in new markets. By leveraging data insights from platforms like ExportImportData, companies can stay updated on the latest trends in U.S. exports and gain a competitive edge in the international trade arena.

In conclusion, the United States remains a global trade leader with a diverse and dynamic export portfolio, shaping industries and economies around the world. Whether you’re looking to explore America’s biggest export, track exports from America to India, or gain insights into the latest U.S. export data, understanding these trends is key to making informed business decisions in the global marketplace.

[allthebrazilianpolitics]

Tit-for-Tat Diplomacy: Will Brazil Join China’s Belt and Road Initiative?

Thursday marked the fiftieth anniversary of the establishment of diplomatic ties between Brasília and Beijing, which began on 15 August 1974, when Brazil became the tenth country in Latin America and the Caribbean (LAC) to recognize the PRC. There are many reasons to celebrate this milestone. Economically, China has been Brazil’s largest trading partner since 2009, with trade between the two nations growing steadily.

Bilateral trade between Brazil and China reached $96.5  billion over the first semester of 2024, a 9.3% increase compared to the same period in 2023. Brazilian imports from China rose by 16.9% to $34.7 billion, with exports to China growing by 5.4% to $61.8 billion, resulting in a favorable trade surplus of $27 billion for Brazil.

Brazil and China remain close allies with strong political ties. The relationship deepened in 1990 when former President Yang Shangkun visited Brazil as part of a broader outreach to Latin America. In 1993, Brazil became the first country to establish a strategic partnership with China during former President Jiang Zemin’s visit. Jiang returned in 2001, reinforcing the partnership. This close relationship continued with visits from former President Hu Jintao in 2004 and 2010, and President Xi Jinping in 2014 and 2019.

Brazilian Presidents have reciprocated China’s diplomatic engagement through a series of significant visits. It began with Figueiredo in 1984, followed by Sarney in 1988 and Cardoso in 1995, each reinforcing the growing partnership. President Lula further strengthened this relationship with visits in 2004 and 2009, and during his first visit, the Brazil-China High-Level Commission for Coordination and Cooperation (COSBAN) was established. Rousseff continued the momentum with trips in 2011 and 2014. Most recently, Bolsonaro in 2019 and Lula again in April 2023 have maintained this tradition, ensuring the enduring strategic alliance between Brazil and China.

Continue reading.

[isabellaexim]

Vietnam Trade Data: 2024: A Brief Insight

Vietnam has continued to confirm its position in the global trading system, reshaped its trading partners and faced new challenges even in 2024. Due to its strategic position in international trade and commerce, Vietnam’s economic position and operation has become a centre of focus to investors, policy makers and even the world’s leading economists. This blog focuses on Vietnam’s trade figures in 2024 through comprehensive and evaluated analysis of export/import turnover, main partners, sectors, and impact of the global economy policy on Vietnam. Key Highlights: - The growth of imports contributed to an increase in surplus of $2 billion in October 2024.

- The exports rose by 14.9% to $335.59bn in January-October 2024.

- Vietnam’s export market in 2024 is made up of Electronics, Textiles, Footwear, Agriculture products.

- Vietnam will shine in global commerce in 2024: U.S., China, EU, and Southeast Asia.

- Trade risks encompass the potential of the U.S. preparing to impose tariffs, shifts in supply chain and regional trade agreements.

Trade Balance and General Behavior

According to Vietnam trade data, Vietnam’s trade showed a surplus of $ 2 bln in October 2024, the lowest value since May due to the faster import growth. Export rose to $ 25.4 billion at an annual rate of 10.1 while imports stood at $ 39.5 billion at an annual rate of 13.6. About 93.6% of the total general import included raw materials to be used for manufacturing purposes. Exports of goods were up to $335.59 billion from $295.12 billion, a 14.9% rise for the period of January-October while imports were up by $312.28 billion from $269.22 billion a 16.8% increase. 

Major Export Commodities

As per Vietnam's export data in 2024, Vietnam has been dominated by several key commodities:

Electronics and Electrical Products: This category such as computers and smartphones remains one of Vietnam’s most significant exports, this being occasioned by the influx of large amounts of foreign direct investments besides the transfer of production facilities by other countries.

Textiles and Garments: The textile sector continues to be a major participant, Vietnamese apparel products also enjoying popularity in other demanding markets such as the United States and the European Union.

Footwear: Vietnam has established itself as a strong player in the global footwear exports market, and you will find shoes in the luxury and the economy segment.

Agricultural Products: Products like coffee, rice and seafood still remain the key export products area with export giving direction for increase in flow from Asia and Europe. Major Import Commodities

As per Vietnam import data, Vietnam's primary commodities include:

Machinery and Equipment: Also required for developing the manufacturing and construction industries that are still emerging in this country.

Raw Materials: Which are fabrics, plastics and metals required for the manufacture of exported products in Kenya.

Consumer Goods: As the income of the country increases, there has also been enhancement of the import of luxury and consumer goods to satisfy the arising demands within the country.

Key Trading Partners

Vietnam's trade relationships have been both diverse and strategic. Few of the trading partners are listed below:

United States: The U.S. is still one of the leading importers of Vietnamese products especially electronics, textiles and garments and footwear.

China: As a major importer where Vietnam sources most of its imports particularly inputs and capital goods and as a fast growing market for Vietnamese agricproduct.

European Union: Thanks to the signed EVFTA trade has improved with the EU remaining one of the largest markets for Vietnamese products.

ASIAN Countries: Where regional trade is concerned, Southeast Asia has not lagged behind and has been driven by treaties that facilitate trade by expunging the tariff barriers. Top Imports & Exports Companies in Vietnam

According to Vietnam import export data, the Vietnamese trade environment has various domestic and international firms that contribute to exports and imports of different products. Below is an overview of prominent companies involved in Vietnam's trade activities in 2024:

Top Exporting Companies in Vietnam

Samsung Electronics Vietnam

Industry: Electronics and Technology

Exports: Cooking appliances, Refrigerators, air conditioners, and computer racks.

Vingroup

Industry: Automobiles and Real Estate

Exports: Vietnamese automobile company VinFast electric vehicles (EVs).

Industry: Energy

Exports: Petroleum and its derivatives – Crude oil.

Tan Thanh Cong Textile Garment Investment Trading JSC

Industry: Textiles and Garments

Exports: Apparel and textiles.

Industry: Seafood

Exports: Shrimps, fish and other marine creatures.

Vietnam’s main importing companies

LG Display Vietnam

Industry: Electronics

Imports: Others named it display components and technologies.

Hoa Phat Group

Industry: Products for construction and manufacturing industry

Imports: The materials used for iron making and production of steel.

Unilever Vietnam

Industry: Consumer Goods

Imports: Products and packaging materials for personal care as well as household uses.

Toyota Vietnam

Industry: Automobiles

Imports: Vehicle parts and components.

CP Vietnam Corporation

Industry: These sub-sectors include; Agriculture and Foods Production.

Imports: Products that it feeds to animals and agriculture related machinery. These companies actually depict the diversification of Vietnam trade departments especially in technology, agriculture, textiles among others. Not only do they influence the country's export-import figures but also the image of Vietnam as an up and coming favourable trading partner.

Want to Acquire more Vietnam Trade Data?If you wish to acquire more Vietnam trade data, visit Exim Trade Data, a trusted global import export data provider which enables you to access precise and accurate data from over 200+ countries.

Effects Of International Economic Systems

The global economic environment in 2024 has presented both opportunities and challenges for Vietnam. Let’s discuss the challenges and opportunities in brief:

U.S. Trade Policies: Potential for more protectionism from the U.S. has been added into the equation. Vietnam has a trade surplus with the U.S. and in turn the fear over possible tariffs or trade barriers. 

Supply Chain Shifts: Continuous political conflicts around the world have forced large enterprises to spread their factories, and Vietnam has become one of the ideal locations for investment.

Regional Trade Agreements: Vietnam has improved the outlook of its trade because of joining agreements such as the Regional Comprehensive Economic Partnership (RCEP) that interrupts the difficulties in trade from various nations. ConclusionIn 2024, Vietnam will continue to show its strength and flexibility of trading by taking its geographical advantage and diverse trading partners. Despite various barriers, which include shifts in the world economy and changes in trade partnerships, the international buying and selling of goods by Vietnam remains strong as it focuses on its strength in sectors like electronics, textiles, and agriculture. Increased cooperation with the leading trade partners including the US, China and the EU has strengthened its position in trade while regional integration through agreements has deepened within the Asian region. While following through its economic programs, Vietnam is potentially rated to be an ideal regional destination in their economic mapping to attract local and international investors, policy makers and stakeholders.

[news365timesindia]

[ad_1] U.S. President-elect Donald Trump recently warned the European Union that it could face tariffs unless it significantly increases its purchases of American oil and gas. In a post on Truth Social, Trump stated that the E.U. must reduce its trade deficit with the U.S. by buying large quantities of U.S. energy resources, or else tariffs would be imposed. This statement aligns with Trump’s broader economic agenda as he prepares to begin his second term. He has already threatened tariffs on China, the country with which the U.S. has its largest trade deficit, and has now extended this warning to U.S. allies, including Europe, Canada, and Mexico, aiming to boost U.S. manufacturing. The U.S. is the leading global producer of crude oil and a major exporter of liquefied natural gas (LNG), with Europe being one of the top destinations for these exports. The demand for American LNG in Europe has risen, especially after the Russia-Ukraine conflict disrupted Russian gas supplies. However, the E.U. continues to maintain a trade surplus with the U.S., with its exports to America exceeding imports by approximately 20 billion euros as of October 2024, which is central to Trump’s demand for Europe to buy more American energy. [ad_2] Source link

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[ad_1] U.S. President-elect Donald Trump recently warned the European Union that it could face tariffs unless it significantly increases its purchases of American oil and gas. In a post on Truth Social, Trump stated that the E.U. must reduce its trade deficit with the U.S. by buying large quantities of U.S. energy resources, or else tariffs would be imposed. This statement aligns with Trump’s broader economic agenda as he prepares to begin his second term. He has already threatened tariffs on China, the country with which the U.S. has its largest trade deficit, and has now extended this warning to U.S. allies, including Europe, Canada, and Mexico, aiming to boost U.S. manufacturing. The U.S. is the leading global producer of crude oil and a major exporter of liquefied natural gas (LNG), with Europe being one of the top destinations for these exports. The demand for American LNG in Europe has risen, especially after the Russia-Ukraine conflict disrupted Russian gas supplies. However, the E.U. continues to maintain a trade surplus with the U.S., with its exports to America exceeding imports by approximately 20 billion euros as of October 2024, which is central to Trump’s demand for Europe to buy more American energy. [ad_2] Source link