exports - Page 2

China’s trade deficit with Russia tripled in 2022, a report revealed on Friday, thanks in part to skyrocketing energy prices that made Russia’s discounted oil and gas irresistible to Chinese buyers.

The nation’s trade deficit widened 5.4 percent in October to a four-month high of $78.2 billion, data from the Commerce Department showed Tuesday. 

Chinese customs data for October released on Monday revealed a surprisingly steep drop in both imports and exports, the latter contracting for the first time since the early days of the Wuhan coronavirus pandemic in 2020.

The stronger dollar hurt exports but imports fell by even more.

Russian energy export earnings are projected to rise nearly 40 percent year-on-year to $337.5 billion in 2022, Reuters reported Wednesday citing an official document from the Ministry of Energy of the Russian Federation.

Apple reportedly instructed its suppliers on Friday to ensure all components made in Taiwan are labeled “Taiwan, China” or “Chinese Taipei,” in accordance with speech codes enforced by the tyranny in Beijing.

The EIA reports that the United States is the world leader in liquified natural gas exports during the first half of 2022.

Britain’s ministry of defence has predicted that Ukrainian food exports will fall by nearly two-thirds this year.

The death of 53 illegal migrants in a San Antonio trailer truck spotlights the federal government’s off-the-books policy of spiking the U.S. economy with young people extracted from poor countries.

Many millions of young Africans want to migrate from their home countries to better jobs, especially in Europe and the United States, says a survey funded by a prominent South African investor.

China’s state-run Global Times on Thursday uncorked a furious tirade against “infamous U.S. Republican anti-China senators Marco Rubio and Rick Scott” because they dared to introduce a bill called the China Oil Export Prohibition Act, which would halt American exports of oil and petroleum products to the People’s Republic of China while the U.S. struggles to get soaring fuel prices under control.

Recent OPEC oil production numbers show the cartel’s members are missing their production targets, jeopardizing President Joe Biden’s upcoming visit to Saudi Arabia to request more oil imports.

The U.S. and the West are trying to ween themselves of off Russian oil, but India, China, and other Asian countries are snapping it up.

Natural gas futures prices — the contracted price for the product at future dates — hit a 13-year high driven by weather, supply and demand.

The government of Turkey recently expressed a desire to serve as a “facilitator” of a proposed export process between Istanbul, Moscow, and Kyiv that would see grains, fertilizer, and sunflower oil shipped out of Ukraine and Russia in the coming weeks, Turkey’s Hürriyet Daily News reported on Wednesday.

A source inside the Indian government said on Monday that several desperate foreign countries are pleading with India to supply over 1.5 million tons of wheat, to compensate for shortfalls from the Russian invasion of Ukraine and other factors.

India’s Directorate-General of Foreign Trade banned wheat exports on Friday, causing market prices to skyrocket around the world and prompting expressions of grave concern from humanitarian groups

The U.S. trade deficit rose an astonishing 22 percent in March to $109.8 billion.

The world may be careering towards global famine as food insecurity spirals as Russia blocks grain exports from Ukraine.

The government of India, the world’s second-largest producer of wheat, is preparing an aggressive program to increase production and ship enough wheat to make up for the anticipated shortfall from Ukraine and Russia, Reuters claimed on Tuesday.

Imports rose while exports fell, pushing the trade deficit up to $89.7 billion at the start of the year.

China’s dominance of global trade in the wake of the Wuhan coronavirus pandemic was confirmed on Friday with the release of annual data that showed its trade surplus hitting a record high of $676 billion in 2021, a 26 percent gain over 2020 driven by a 30 percent surge in exports.

Japan’s federal government is allegedly planning to limit exports of artificial intelligence (A.I.)-powered facial recognition software to China to prevent Beijing from using such technology to “surveil and persecute” ethnic minorities in China, particularly in its westernmost region of Xinjiang, the online newspaper Taiwan News reported on Monday.

Indian Foreign Minister Subrahmanyam Jaishankar said Tuesday that India must continue exporting coronavirus vaccines despite mounting infections and vaccine shortages at home because of the need to maintain “global supply chains.”

India’s health ministry on Sunday banned the export of the antiviral drug Remdesivir and its active pharmaceutical ingredients after a recent surge in new Chinese coronavirus cases across India caused a “spike in demand” for the drug.

China’s General Administration of Customs (GAC) reported Sunday that total exports grew by 32.2 percent in the first two months of 2021.

China’s vice-minister for commerce, Qian Keming, said Friday that his country exported over 220 billion protective face masks during 2020, which works out to roughly 40 masks for every person living outside of China. The total value of China’s mask exports was $52.6 billion.

The South China Morning Post (SCMP) on Wednesday reviewed Chinese customs data and found several major blockages of Australian imports over the past month, including 9,000 liters of Australian craft beer turned away at the port city of Xiamen and 8,000 kilograms of frozen beef denied entry to Shanghai. China and Australia are embroiled in a long-running trade and diplomatic feud.

The Times of India (TOI) reported on Friday that a substantial number of large garment companies are shifting their operations from China to India. India has been waging a boycott campaign against China and trying to persuade international corporations to do business with India instead.

Fruit industry leaders in Chile and China signed a memorandum of understanding (MOU) this week to reinforce trade ties, the South China Morning Post (SCMP) reported on Friday.

Imports were down but exports were down by more so the trade deficit rose.

Now that most international public health experts have reversed their curious positions from earlier this year that masks do nothing to slow the spread of the Wuhan virus, China has capitalized on the surging demand for masks to become the world’s biggest provider, despite persistent complaints from customers about the poor quality of Chinese products.

The Chinese Communist Party sought to manage the global political fallout from shipping thousands of defective coronavirus test kits and protective masks on Wednesday by announcing new export restrictions on medical supplies from companies that lack the necessary licenses to sell them in foreign markets.

Growth ground to a halt at the end of the year in Germany, Europe´s largest economy, as manufacturing remained in a slump and exports fell.

U.S. imports from China have declined by $53 billion through the first nine months of the year, Commerce Dept. data show.|

Currency and rates markets agree with Trump: the Fed’s policy is too tight and rates need to come down.