External Merchandise Trade (excluding non-declared trade) of Georgia amounted to USD 14 001.1 million in January-August 2023, 16.8 percent higher year-on-year. The value of export increased by 14.3 percent reaching USD 4 075.4 million, while the import increased 17.8 percent and amounted to USD 9 925.7 million. The trade deficit equaled USD 5 850.2 million … Read more
According to primeminister.kz, the activation of cooperation in trade and economic and transport and logistics spheres were discussed by Alikhan Smailov, Prime Minister of the Republic of Kazakhstan, and Lin Wu, Secretary of the Party Committee of Shandong Province of China. As it was noted by Head of the Government, more than 6% of the total volume of trade between Kazakhstan and China falls on Shandong today. However, further promotion of Kazakhstan’s goods in the Chinese market and the search for new areas of cooperation is important for the country. This highlights a particular relevance of the development of transportation potential and deepening of cooperation within the framework of the “One Belt, One Road” initiative. The launch of the first return train on the route “China – Europe” for the delivery of Kazakh barley to the PRC, which took place the day before in Almaty, will facilitate this task. According to Alikhan Smailov, Kazakhstan is ready to increase the supply of Kazakhstani products along this route and expand the range of supplied goods and services. The importance of holding in Astana a Kazakh-Chinese forum on cooperation with Shandong Province was also emphasized by Prime Minister. He added that productive trade and investment interaction between the two countries’ business circles will be undoubtedly expanded by this event. The establishment of productive cooperation between Shandong Province and the regions of Kazakhstan was emphasized by Lin Wu in turn. Simultaneously, cooperation in the areas of deep processing of agricultural products, trade and construction of logistics infrastructure has a great potential to be expanded. Representatives of more than 100 enterprises of Shandong Province in the above sectors visited the event this time. A number of joint trade and economic projects is expected to be signed. According to Lin Wu, the both sides expressed their confidence in their future cooperation’s extension and deepening the partnership between their enterprises and realization of more joint projects, achieved through common efforts. Shandong Province is China’s important agricultural production area located on the east coast of the country. Wheat, cotton, peanuts, tobacco, bast crops, etc. are grown there. This province is one of China’s major horticultural and field-growing areas, leading aquaponics and silk cocoon breeding centers. A Memorandum of Cooperation under which Kazakhstan Temir Zholy and Shandong Port Group, China’s largest port operator, agreed to develop multimodal container services and related digital products was signed in December 2022.
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Exports (calendar and seasonally adjusted exports of goods), July 2023 130.4 billion euros -0.9% on the previous month -1.0% on the same month a year earlier Imports (calendar and seasonally adjusted imports of goods), July 2023 114.5 billion euros +1.4% on the previous month -10.2% on the same month a year earlier Foreign trade balance … Read more
New export controls hitting ASML fit tougher European line on trading with China. The Netherlands on Friday started enforcing new export controls restrictions on advanced microchips production machines to China, siding with Washington in the geopolitical tussle over who controls the critical technology. The export controls, part of a three-way deal between the United States, … Read more
“He said negotiations around a free trade deal were progressing and that he would only agree to an approach which worked for the whole of the UK,” notes a Downing Street readout of the Cabinet meeting. Ahead of the much-awaited G20 Summit, UK Prime Minister Rishi Sunak underscored that the free trade agreement (FTA) talks … Read more
During the first 15 days of August, the Danube ports in Odesa region shipped 1,750,000 tons of agricultural products. That’s according to Oleh Kiper, the head of the Odesa Regional Military Administration, Ukrinform reports. “The ports of the Danube cluster shipped 1.75 tons of agricultural products in the first 15 days of August of this … Read more
The overall external trade in the Republic of Serbia for the period January- July 2023 amounted to: – USD 41513.6 million – which was an increase of 0.2% compared to the same period last year; – EUR 38314.3 million – which was an increase of 0.3% compared to the same period last year. The value … Read more
Alikhan Smailov, Prime Minister of the Republic of Kazakhstan, and Lin Wu, Secretary of the Party Committee of Shandong Province of China, discussed the activation of cooperation in trade and economic and transport and logistics spheres, primeminister.kz reports. Head of the Government noted that today more than 6% of the total volume of trade between … Read more
Zhou Qian, the Chinese Ambassador to Georgia, on Wednesday said the Middle Corridor – a transportation route network connecting China with Europe through the South Caucasus region – was “important” for Georgia’s “prosperity”, and added Chinese companies were “interested in all infrastructure projects” in the country and ready to become involved in case of “beneficial … Read more
Due to robust growth following the COVID-19 pandemic, the Dutch economy has outperformed other eurozone economies. The Central Planning Bureau (CPB) attributes this success to the country’s resilience during the crisis and its strong recovery driven by export growth in 2021 and 2022. Furthermore, the Netherlands’ dependence on Germany, its primary trading partner, is gradually being reduced.
The well-known saying, “If Germany sneezes, the Netherlands catches a cold,” expresses the Netherlands’ historical reliance on Germany for economic stability. However, Germany’s importance for Dutch export market is diminishing. The COVID-19 crisis made this trend apparent, as Dutch exports continued to grow in spite of the German economy’s stagnation.
In 1980, 30% of Dutch exports were accounted for by Germany, but by 2021, this figure showed a 23% decrease. Brexit became a significant factor causing the decline of the share of Dutch exports to Belgium, France, and the United Kingdom. Belgium (11% of Dutch exports), France (8%), the United Kingdom (6.5%), the US (5%), Italy (4.5%), and China (2.5%) are now the most important trading partners of the Netherlands after Germany.
Dutch exports grow beyond Germany. Three types of exports are highlighted by the CPB: goods and services produced or processed in the Netherlands, re-exports (goods of foreign manufacture that are imported and then exported without substantial processing), and transit of goods passing through Dutch territory. The Netherlands’ exports and re-exports to other European countries increased, particularly to Eastern and Northern Europe, as well as to the US and Asian nations like China. Dutch economy got a significant benefit from the expansion of the EU and China’s rising economic importance.
A crucial role was played in international trade by Dutch-made products as they generated substantial earnings for the country. In 2020, 56 cents were earned by the Netherlands for every euro of export value on goods (totally 120 billion euros). The service sector contributed 100 billion euros due to the added value of 63 cents per euro. 14 cents per euro of export value were yielded by the re-exports (totally 34 billion euros in 2020).
The CPB called the Netherlands, particularly Rotterdam, “the world’s gateway to Europe,” due to its flourishing trade economy in Europe and beyond, recognizing the country’s significant role in facilitating international trade and commerce.
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