Saudi Aramco
Finlands major unions have extended large-scale strikes since March 11 due to deadlocked negotiations with the government over labor law amendments, causing port logistics paralysis and severely impacting import/export operations.
South Korea and EU launch third round of digital trade agreement negotiations
South Korea and the EU held the third round of digital trade agreement negotiations in Brussels, aiming to promote e-commerce development and build a digital trust environment. The talks focused on key issues such as tariff-free electronic transmissions and fair treatment of digital products, which have significant implications for global digital trade order.
South Koreas instant noodle exports hit a record high, reflecting global economic pressures
South Koreas instant noodle exports surge, possibly indicating declining living standards amid global economic pressures. February exports reached $93 million, with the US, China, the Netherlands, and Japan as main destinations. Rising instant noodle demand is seen as an indicator of economic hardship.
The Netherlands agro - industrial exports to Russia have increased, with growth in the trade of livestock medicines and flowers.
The Netherlands agro-industrial exports to Russia have grown significantly in the past two years, particularly in livestock pharmaceuticals, vaccines, agricultural machinery, and flower exports. This trend, unaffected by EU sanctions, has sparked discussions about the effectiveness of the sanctions.
The EU Limits Duty - Free Exports of Some Ukrainian Agricultural Products to Pacify Local Farmers Protests
The EU has agreed to restrict the duty - free exports of some Ukrainian agricultural products to the EU market, including oats, corn, sugar, honey, eggs and poultry, but excluding wheat and barley. This is to ease the angry protests of European farmers over the influx of cheap Ukrainian agricultural products causing unfair competition. The EU also reserves the right to urgently cancel the tariff exemption, striving to balance supporting Ukraine and safeguarding the interests of local farmers.
The growth of trade between China and Russia has slowed down, affected by new US sanctions.
Affected by U.S. sanctions on Russia, China-Russia trade growth slowed significantly in the first two months of 2024, with total trade volume increasing by 9.3% YoY, while banks tightened trade settlements.
The EU imposes high tariffs on Russian wheat
The EU plans to impose heavy taxes on wheat from Russia and Belarus. This move may lead to a 50% price increase within Europe and also affect the global grain market.
Polands foreign trade decreased, with the largest decline in exports to the EU.
Polands January foreign trade data shows a 12% decline in exports and a 14.5% drop in imports, with significant decreases in trade with the EU, particularly Germany and Central European countries.
Growth in Chinas Integrated Circuit Imports Reflects Rising Industry Demand
In the first two months of 2024, Chinas integrated circuit imports grew by 16.8% in volume and 15.3% in value, despite a drop in average prices, reflecting strong demand in the electronics manufacturing sector.
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