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SAFE Releases Data on International Trade in Goods and Services of China in October 2023 n October 2023, the export and import of China's international trade in goods and services totalled RMB 4091.0 billion. Of this, the export of goods recorded RMB 1961.5 billion and the import recorded RMB 1634.9 billion, resulting in a surplus of RMB 326.6 billion. The export of services recorded RMB 177.7 billion and the import recorded RMB 316.8 billion, resulting in a deficit of RMB 139.1 billion. In terms of the major items, the export and import of transport, travel, other business services, telecommunications, computer and information services registered RMB 148.5 billion, RMB 130.0 billion, RMB 86.3 billion and RMB 48.2 billion respectively. In the US dollar terms, in October 2023, the export and import of China's international trade in goods and services were USD 298.0 billion and USD 271.9 billion respectively, with a surplus of USD 26.1 billion. #trade #import #SAFE #data

SAFE Releases Data on International Trade in Goods and Services of China in July 2024 In July 2024, the export and import of China's international trade in goods and services totalled RMB 4235.2 billion, up 12 percent over the same time last year. Of this, the export of goods recorded RMB 2035.4 billion and the import recorded RMB 1603.9 billion, resulting in a surplus of RMB 431.6 billion. In the US dollar terms, in July 2024, the export and import of China's international trade in goods and services were USD 317.5 billion and USD 276.4 billion respectively, with a surplus of USD 41.1 billion. #credit #SAFE #debt #Statistics #internationaltrade

AAEI supports holding China accountable for unfair trade practices and believe measures like export controls, technology transfer policies, and working with allies are remedies to these practices. However, no tariff relief is bad for U.S. consumers and the economy. In January 2023, AAEI submitted formal comments as part of USTR’s review process, concluding that the growth of inflation, supply chain disruptions, and the reshuffling of trade flows have placed enormous economic pressures on U.S. consumers, importers, and exporters. Link to 2023 AAEI comments: https://bit.ly/4alhK01

The UK’s post-Brexit trade has seen growing trade in services, though the performance of its goods exports remains disappointing. Service exports have increased nearly 29% since February 2020 although it's not financial services that have driven the growth but what the Office for National Statistics (ONS) calls ‘other business services’. These include legal, consultancy and professional services, which have overtaken machinery and transport equipment sales, historically the bulk of UK exports. By contrast, the UK’s goods trade underperformed relative to other western nations. Performance for goods, including chemical and fuel and automotive exports, have been generally disappointing, with chemical exports in particular declining in recent years. The UK’s trade with the EU has been stable since the signing of the Trade and Cooperation Agreement (TCA). Though UK-EU trade has been declining slowly over the last 25 years, Europe remains the largest source of imports for the UK, particularly in goods. This may in part reflect the UK’s delay in implementing border checks on EU imports post-Brexit, meaning many of the trade frictions implied by the TCA have not yet fully come into effect. The UK’s Border Target Operating Model (BTOM) is slowly being introduced for UK imports, with the final date expected in October this year. The full effects of leaving the EU have yet to be reflected in UK trade statistics.

The General Administration of Customs of China released the latest foreign trade import and export data. In RMB terms, in November, my country's goods trade export value was 2.1 trillion yuan, a year-on-year increase of 1.7%. Exports picked up significantly in January. In the first 11 months of this year, the value of my country's exports of goods trade was 21.6 trillion yuan, a year-on-year increase of 0.3%. ⬆

Chinese General Administration of Customs released data showing that in the first two months of 2024, the total value of China's import and export of goods was 6.61 trillion yuan, a year-on-year increase of 8.7%. Imports totaled 2.86 trillion yuan, up 6.7 percent; The trade surplus was 890.87 billion yuan, an increase of 23.6 percent. 中国海关总署公布数据显示，2024年前2个月，我国货物贸易进出口总值6.61万亿元人民币，同比增长8.7%。进口2.86万亿元，增长6.7%；贸易顺差8908.7亿元，扩大23.6%。

Our latest March / April 2024 PwC Trade Intelligence issue is out! Our regional team of trade and customs consultants works with a wide variety of companies across the region on their challenges and opportunities. We monitor, analyse and clarify the cross-border trade regulatory landscape on a daily basis. On a bi-monthly basis we consolidate our latest findings and experiences into our market-leading "Trade Intelligence Asia Pacific", now in its 20th year of publication. This issue includes the following highlights: - Lead Article: The Tariff - Part 4: Resurrections - Australia strengthens export control measures to align with AUKUS allies - China passes new Customs Tariff Law  - Revised declaration requirements, extended validity period of advance rulings and electronic voluntary disclosures in China  - India Tribunal issues a ruling on treatment of licence and royalty fees - Update on import restrictions in Indonesia  - Japan looking to do more trade deals with “the Global South”  - Korea Customs releases instructions on providing information when under audit or investigation - Malaysia defers implementation of High Value Goods Tax  - New controls for import, export and transit of electronic waste in Singapore  - Low-value goods imported into Thailand to be subject to 7% VAT and many more... Our PwC Trade Intelligence publication is intended to help you keep up to date with Asia Pacific’s latest customs and trade issues and regulation updates. More importantly, our publication helps you understand what these issues mean to you and how it may impact your business operations. Keep an eye out for “our take” sections in our articles for such insights. To access the publication directly from your inbox and make sure you don’t miss out on any future updates, be sure to subscribe to our free publication through the link below. https://lnkd.in/fn_-eUj #PwC #WMS #TradeIntelligence #Customs #InternationalTrade #TradeCompliance #export #globaltrade #asiapacific

New Year, new trade opportunities! Did you know that the New Zealand Ministry of Foreign Affairs & Trade has a very handy Tariff Finder tool online - it'll help you understand how the #NZUKFTA and other trade agreements may impact your business.   Find out more and compare tariffs in more than 140 international markets below   #TradeTuesday

Unlock Global Trade Potential with Expert Insights on Trade Agreements! Understanding trade agreements is essential for any business involved in international trade. Our latest blog provides comprehensive insights to help US importers navigate these agreements effectively, streamlining import processes, reducing costs, and enhancing operational efficiency. Blog Highlights: - Types of Trade Agreements: Learn the differences between bilateral, multilateral, regional, and preferential trade agreements. - Product Eligibility: Discover how to determine if your products qualify for reduced tariffs and other benefits. - Rules of Origin: Understand the criteria that establish product origin for trade agreement benefits. - Documentation and Recordkeeping: Get tips on maintaining accurate documentation and records for compliance and audit preparedness. - Professional Consultation: Learn why seeking expert advice can help leverage the full benefits of trade agreements. Dive deeper into the nuances of trade agreements and transform your business operations. Read our detailed guide now! https://lnkd.in/gSxujiJi #TradeAgreements #GlobalTrade #ImportExport #BusinessGrowth #Compliance #JunoCustomsSolutions

Zimbabwe Electronic Single Window Transforming Cross-Border Trade The Zimbabwe Electronic Single Window (ESW) initiative has made significant progress in streamlining and modernizing cross-border trade processes. With successful pilot run of the Port Health module, implementation at Forbes Border Post and Robert Gabriel Mugabe Airport. The benefits of the ZESW are already apparent with positive impacts of the ZESW, including improved turnaround times, simplified procedures, reduced trading costs, alignment with international best practices, increased transparency, integrity, and enhanced revenue inflows to the government through ZIMRA.   In the first quarter of 2024, the Zimbabwe Electronic Single Window system witnessed a significant number of transactions at Forbes and RGM International Airport. At Forbes, 791 import transactions and 72 export transactions were successfully processed, demonstrating the growing acceptance of the system by traders. Similarly, at RGM International Airport, 170 import transactions and 19 export transactions were efficiently handled. Additionally, the system facilitated the clearance of 45 human remains imports and 2 exports at RGM International Airport. With a total of well over a thousand transactions processed in just the first quarter of 2024, these figures highlight the increasing adoption and success of the Zimbabwe Electronic Single Window system in streamlining trade operations. https://lnkd.in/d-NHqri2