INSIGHTS Dutch exports reached a record €170.4 billion in 2022, up 30 per cent from 2021, while imports jumped 37 per cent to €182.2 billion, according to Statistics Netherlands (CBS). Trade value increased due to higher prices, though the Dutch economy’s openness remained steady. The country’s re-exports accounted for 57 per cent of export growth. … Read more
Ministers have been warned that European food producers are “not ready” for UK import checks, which are due to begin later this year, and that their introduction will drive food price inflation. The controls have already been postponed four times over the past 18 months, because of fears about the potential effect on prices. Farming … Read more
From January to May, 2023 the volume of cargo transported via the North-South International Transport Corridor (ITC) has increased by 54%, according to the Deputy Chairman of the Eurasian Development Bank (EDB) Denis Ilyin. Speaking at a session on transport logistics in Eurasia, held within the frames of Eurasian Congress 2023 in Russian Sochi, he … Read more
Canada’s Deputy Prime Minister Chrystia Freeland today announced the extension of tariff waivers on goods from Ukraine for another year, until June 9, 2024, in order to support the embattled nation’s economy in the face of Russia’s full-scale invasion. This was announced by the Canadian government, Ukrinform reports. This will ensure continued duty-free imports of … Read more
The project “Implementation of Automated Systems of Import and Export and Customs Decision Management System” officially began on June 12, 2023, which will complete the process of the digitization of all customs procedures, announced the Customs Administration of the Republic of Serbia. In addition to representatives of the Customs Administration, the event was attended by … Read more
The trade turnover between Kazakhstan and Uzbekistan has reached $1.1 billion in the first three months of this year, a 5.2% increase from the same period of 2022, Finprom.kz reported on June 14. Exports from Kazakhstan accounted for most of the turnover (76.7%), rising 0.9% to $821.3 million since the beginning of the year. The … Read more
Georgian external trade turnover amounted to $8.36 billion in January-May 2023, posting a 18.9 percent increase year-on-year, Azernews reports, citing Agenda.ge. The value of exports rose by 18.5 percent and equalled $2.50 billion, while imports also grew by 19.1 percent, amounting to $5.85 billion in the first five months of 2023. Trade deficit, a measure … Read more
From 2018 to 2022, the number of items in the commodity nomenclature for industrial goods exports increased from 884 to 1,204, Azernews reports, citing a tweet by the Azerbaijani Economy Minister Mikayil Jabbarov. The tweet reads that the commodity nomenclature for agricultural production and processed goods grew from 307 to 332. This indicator demonstrates the … Read more
The government program implementation report shows that positive trends in the direction of economic growth continued in 2023, and, as it was preliminarily estimated, the average rate of economic growth in the first quarter of 2023 was 7.2%.
The document additionally reports an increase in employment and a decrease in the unemployment rates in 2022 and the continuation of export growth trend in the period of January-April 2023.
According to the report, in spite of all significant economic challenges, affecting economic policy and requiring an adequate response, economic stability of Georgia was maintained, and a double-digit economic growth was recorded in 2022 (10.1%).
The average rate of economic growth in the first quarter of 2023 was preliminarily estimated to reach 7.2%. A positive effect on the labor market indicators was produced by the increase in economic activity. Particularly, in 2022, employment rate increased and unemployment rate decreased. An all-time low was reached by poverty rate in 2022. In 2022, exports showed an increase by 31.8 percent and reached a record high rate – 5.6 billion USD and continued the trend in the period of January-April 2023. Exports increase reached 23.6%, compared to the corresponding period of the previous year, and equaled 1,962.2 million US dollars.
Direct foreign investment – the volume of direct foreign investment, increased significantly in 2022 (by 61.1%), compared to the previous year, and amounted to a record 2 billion USD. The decrease of the annual inflation level in April 2023 (2.7%) was more than they had expected and even lower than the target index set by the National Bank – 3%.
The government took significant steps to improve its debt management policy and ensure transparency between June 2022 and May 2023.
The Prime Minister has already submitted his annual report on the implementation of the government program to the Parliament. The period from June 2022 to May 2023 was covered by the report. The report will be presented to the Parliament by the Prime Minister of Georgia on June 30.
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A memorandum of cooperation on matters related to the China International Import Expo (CIIE) was signed by Dutch and Chinese business representatives from the CIIE Bureau and Dutch institutions and enterprises on May, 25 in Xinhua during a promotional event for the sixth CIIE, scheduled for Shanghai from Nov. 5 to Nov. 10.
A keynote speech emphasizing China’s position as the world’s second-largest import market was delivered by Jin Yuan, Economic and Commercial Counselor at the Chinese Embassy to the Netherlands.
According to him, China’s import volume, reaching 2.7 trillion U.S. dollars in 2022, showed the country’s immense market potential.
He added that an excellent platform for large and small Dutch enterprises to showcase and promote their products was provided by the CIIE, the world’s first import expo held at a national level.
An active role in the expo should be taken by Dutch businesses. Jin called them to explore potential collaborations with their Chinese counterparts and reap the significant benefits of the Chinese market.
According to Shi Huangjun, vice president of the National Exhibition and Convention Center (Shanghai), Dutch companies have always been important players at the CIIE due to their enthusiastic participation and considerable benefits they have achieved.
Not only large multinational corporations but also a multitude of innovative and potentially high-growth small- and medium-sized enterprises from the Netherlands were attracted by the expo.
A screening of a promotional video for the sixth CIIE was included in the event. Information on the expo’s preparations and detailed insights were shared by organizers into the exhibition areas. Various inquiries raised by Dutch representatives were also addressed by them.
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