Many countries introduce new trade rules

Recently, Nigeria, Angola, Russia, Egypt and other countries have issued new trade regulations on import control, exchange rate change, etc. So suppliers and freight forwarders who export or ship goods to these countries should pay attention to the relevant risks!

1. Nigeria: Implement foreign exchange control on some imported goods

According to the report from “The Guardian” of Nigeria on October 25th, the president of the Central Bank of Nigeria (CBN) said that the central bank had repeatedly considered to implement foreign exchange control on 41 imported commodities, and other related supporting policies had also taken effect.

Goods that are prohibited from obtaining foreign exchange from the official market for import include private jets, nails, plastic and rubber products, rice, cement, poultry, canned fish, furniture, toothpicks, kitchen utensils, tableware, textiles, clothing, ketchup, soap and cosmetics, etc. This means that the payment of related products may encounter problems, so please be aware of this if you supply these products!

2. Angola promulgates new regulations for the import of 54 products

According to the reports of Angolan media on November 26th, the Ministry of Economic Planning of Angola announced a list of 54 kinds of products in Luanda, and said that it would take measures against the products in the list to improve the status quo that the imported products were more than domestic production.

Sérgio Santos, State Secretary of the Ministry of Economic Planning of Angola, said at a news conference that the new regulations for 54 imported products were aimed at accelerating domestic production instead of imports, which would undoubtedly have an impact on foreign trade companies that export products in this area.

3. Egypt: Suddenly announced to raise the exchange rate by 15%

Since November 3rd, 2016, the exchange rate of the US dollar against the Egyptian pound has been very stable. It has remained basically unchanged in the past 13 months, maintaining its level at 1:16. However, in the last month of 2018, the situation changed suddenly!

A few days ago, the Egyptian Ministry of Finance announced the new customs foreign exchange settlement rate table for December, the US dollar against the Egyptian pound was greatly raised from 1:16 to 1:17.79.

The Egyptian Ministry of Finance announced that it had decided to increase the US dollar settlement price for non-essential and entertainment products, linked to the official exchange rate of the Central Bank of Egypt, valid until December 31st, when the foreign exchange settlement price list for January 2019 would be announced as appropriate. Traders and importers predicted the Treasury’s decision would increase commodity prices on the market by 10% to 15%.

4 Russia will impose mandatory label management on ten categories including shoes and coats.

According to the “Russian Federation’s National Trade Administration Law”, the Russian government issued the government order No. 792-р on April 28th, 2018 to implement Radio Frequency Identification (RFID) mandatory label management for ten categories of goods such as shoes and coats. The government order will take effect on January 1st, 2019.

So far, Russia has applied label management to fur products in January 2016 and medicines in August 2016. Among them, the label management against drug is extended to the end of this year.

Peruvian goods trade from January to September 2018

From January to September 2018, Peru’s trade in goods continued to grow. According to Peruvian customs statistics, the import and export volume of Peru’s goods was US$67.32 billion, an increase of 12.1% over the same period of the previous year (the same below). Thereinto, the exports value was 35.06 billion US dollars, up 13.4%; the imports value was 32.25 billion US dollars, up 10.8%. The trade surplus was 2.81 billion US dollars, an increase of 53.9%.

From January to September 2018, Peru’s exports to China, the United States, South Korea and India accounted for 28.5%, 16.3%, 5.8% and 5.3% of the total exports, respectively. The export value was US$9.98 billion, US$5.71 billion, US$20.1 and US$1.86, respectively.

Imports from China, the United States, Brazil and Ecuador accounted for 22.8%, 21.6%, 5.4% and 4.7% of the total imports, respectively, and the imports were US$7.37 billion, US$6.96 billion, US$1.73 billion and US$1.5 billion, respectively. Exports from China, the United States and Ecuador increased by 13.7%, 17.0% and 40.1% respectively, and exports to Brazil fell by 4.8%.

Minerals, precious metals and products and plant products were the main export commodities of Peru. From January to September 2018, exports of these three products accounted for 47.0%, 15.5% and 9.1% of Peru’s total exports, respectively, at US$16.46 billion, US$5.44 billion and 3.21 billion, an increase of 18.3%, 1.1% and 14.3% respectively. From January to September 2018, Peru’s export growth was stable, and most of the major categories of products achieved growth in different degrees, with an increase of more than 20%.

Electromechanical products, mineral products and chemical products were the top three categories of goods imported by Peru. The total imports of these products from January to September 2018 was US$ 15.86 billion, accounting for 49.2% of the total imports of Peru. In addition, transportation equipment was also the main import category for its major commodities, with a proportion in imports close to 10%. Overall, Peru’s imports have also resumed growth, but the increase is lower than that of the export.

Tradedigits is a US commercial organization that collects comprehensive statistics on goods trade of the world’s 20 major trading countries and it has served for more than 10,000 customers globally. Tradedigits provides Peru import and export data for its users to find Peruvian buyers, understand Peruvian market situation and analyse Peruvian import and export prices.

 

Chile and China sign a new trade agreement

Chile and China signed an agreement to expand bilateral free trade during the recent APEC summit. It is worth noting that Chile is the first country to successfully complete the process aimed at deepening existing free trade agreements with mainland China.

According to Chilean officials, the new agreement includes some of the most extensive market access terms negotiated by Beijing with its any trading partner, including additional preferential tariff treatment for 30 Chilean forestry products and a new HS chapter on e-commerce. As far as Chile is concerned, it will provide duty-free treatment for 24 additional tariff lines from mainland China, including glucose, fructose, some textiles and clothing products (including certain wool fabrics, certain rayon yarns and fabrics, and certain cotton, rayon, wool and fine animal hair clothing), as well as a variety of electrical appliances such as refrigerators and dryers.

Chile and China also agreed to improve their service market access commitments, including a commitment to the trade agreements between mainland China and Australia and South Korea. In addition, the two parties had adopted new rules of origin in terms of minimum content and certificate of origin format and exceptions to promote bilateral trade flows. Customs procedures and trade facilitation, technical and economic cooperation (including global value chains, government procurement, cross-border payments, agriculture, and the protection of interests and rights) have also adopted new rules.

Tradedigits provides Chile import and export data with continuous analysis, research and statistics of Chile import and export, by which you can master Chilean buyers list, Chilean sellers list, Chilean import price report, Chilean export price report, and so on.

Japan’s exports increases in October

Despite of risks brought to Japanese economy due to the slowdown in global demand and the intensification of the trade war, Japan’s exports rebounded in October, contrary to the unexpected drop in the previous month. The main reason for this rebound is the growth of Japan’s exports to the United States and China.

According to data released by the Japanese Ministry of Finance (MOF) on Monday, Japan’s exports in October increased by 8.2% year-on-year, compared with a 1.3% decline in export growth in September. Analysts believe this is due to natural disasters that have caused the closure of international airports, the decline of factory output and the downturn of cargo distribution and inbound tourism.

Trade data on Monday showed that after exports fell in September, Japan’s exports to its largest trading partner, China, for cars, car engines and plastics materials increased by 9.0%. In addition, Asian shipments, which accounted for more than half of Japan’s total exports shipment, increased by 7.3%. As of October, Japan’s exports to the United States increased by 11.6%, mainly due to car. Japan’s car exports to the United States rose by 3.0% year-on-year, the first increase in five months.

Japan’s imports to the United States increased by 34.3% in October, led by feed, corn, liquefied petroleum gas and crude oil. This growth caused Japan’s trade surplus with the United States to fall by 11.0% from the same period last year to 573.4 billion yen (about 5.09 billion US dollars). As of October, Japan’s overall imports grew by 19.9% ​​due to the surge in crude oil prices and the shortage of daily necessities caused by natural disasters. Japan’s October import growth exceeded the estimated median annual growth rate of 14.5%, and the trade deficit for the month was 449.3 billion yen (about 3.99 billion US dollars).

Mexico increases the amount of wheat imported from Russia

Recently, Raul Urteaga, the main coordinator of international affairs of the Mexican Ministry of Agriculture, said that Mexico has purchased more than 1.7 million tons of wheat from Russia in the past six years.

“According to data from the Mexican Ministry of Agriculture, Russia provided more than 1.7 million tons of wheat to Mexico in 2012-2017,” Urteaga said in an interview with RIA Novosti. In 2012, Russia supplied 88,000 tons of wheat to Mexico, and by 2017 its production quadrupled to 356,000 tons.

“As of August 2018, the value of wheat imported from Russia was more than 666,000 tons, $147 million,” one officials said.

Mexico has not yet provided seafood and fish to Russia, but the Mexican health authorities are asking Russian counterpart for approval.

At the same time, the total amount of tequila supplied to Russia in 2017 was 513,000 liters, US$3.3 million.

In 2012, banana delivery to Russia reached 125 tons, and in 2017 it increased to 7,000 tons, an increase of 10.6 million US dollars. Therefore, Urteaga concluded that banana is Mexico’s main export commodity to Russia, surpassing beer and tequila.

Tradedigits provides Mexico import data with valuable Mexican import information for you to evaluate the import market situation in Mexico.

Brazil exports about 50.9 million tons of soybeans to China from January to August 2018

Brazil export customs data shows that between January and August 2018, Brazil exported 50.9 million tons of soybeans to China, accounting for 78.8% of total soybean exports during the same period, as the Sino-US trade war prompted Chinese buyers to change to buy Brazilian soybeans. In contrast, in the same period of 2017, Brazil exported 44.1 million tons of soybeans to China, accounting for 77.5% of the total soybean exports during the same period.

From January to August this year, Brazil’s soybean export value reached 25.72 billion US dollars, an increase of 20% year-on-year, and soybean exports reached a record of 64.6 million tons. Brazil’s exports of soybeans to China accounted for nearly 30% of Brazil’s total agricultural exports, indicating that Brazil’s dependence on the Chinese market has increased.

Since the beginning of July, China has imposed a 25% tariff on tens of billions of US dollars of US goods, including soybeans, in retaliation for the tariff war initiated by US President Trump. Since then, Chinese buyers have largely avoided US soybeans and Brazil has become a major supplier. Brazil is the world’s largest soybean exporter. However, Brazil’s soybean supply capacity exceed its normal levels, causing a decline in inventories, which means that Brazil may not have enough soybeans to supply China before the new beans are on sale in January next year.

Chinese rice importers visit Vietnam to promote bilateral rice trade

According to the Import and Export Department of the Ministry of Industry and Trade, Chinese rice importers had visited Ho Chi Minh City and Long An Province in Vietnam to find new business opportunities with their Vietnamese rice suppliers.

The Chinese delegation consisting of 22 companies includes rice importing companies from Guangdong Province, China. This is the second time that a Chinese business delegation has visited Vietnam this year to promote bilateral trade between the two countries in the rice field.

According to Tradedigits’s China customs data, China is the major importer of Vietnamese rice, accounting for about 25% of Vietnam’s total rice exports. In the first 10 months of this year, China’s rice imports from Vietnam reached 1.24 million tons, worth 640 million US dollars. In the Chinese rice import market, Vietnamese rice products account for nearly 50% of China’s total rice imports.

The visit to Vietnam ended on November 17th. And it is one of the activities under the Rice Trade Promotion Program this year. The visit was organized by the Import and Export Department and the Asian and African Marketing Department, and was held in cooperation with the Vietnam Trade Office in Guangzhou, China, and the Ministry of Industry and Trade of Longan.

During the visit, the Chinese delegation participated in activities connecting Vietnamese companies and Chinese partners, and visited the rice production and processing facilities in Longan Province and the food fair in Ho Chi Minh City.

The balance of China foreign reserves shrink at the end of October

China’s foreign exchange reserves experienced three consecutive declines since August, and the decline in October went further compared with that of September. On November 7th, the data released by the official website of the People’s Bank of China showed that the balance of foreign exchange reserves at the end of October was 3,053.098 billion US dollars, a decrease of 1.3% compared with September’s 3,087.025 billion US dollars. According to industry analysts, the scale of foreign exchange reserves continued to fall due to the combining factors such as the strength of the US dollar index and the tense trade situation. However, the scale of future foreign exchange reserves is expected to remain stable with slight volatility.

One reporter from Beijing Business Daily noted that since August, China’s foreign exchange reserves have declined for three consecutive months, and the decline has been further expanded. Relevant data shows that the foreign exchange reserve in August was 3,109.716 billion US dollars, down 8.23 ​​billion US dollars from the end of July, a decrease of 0.26% month-on-month. The foreign exchange reserve at the end of September was 3,087.025 billion US dollars, which was further reduced by 22.69 billion US dollars compared with August, a decrease of 0.7%. In addition, China’s gold reserve at the end of October was 71.968 billion US dollars, and the data at the end of September was 70.327 billion US dollars.

Regarding the changes in the size of foreign exchange reserves in October, Wang Chunying, a spokesperson for the State Administration of Foreign Exchange, said that in October, China’s cross-border capital flows were generally stable and the balance of payments was basically balanced. Affected by multiple factors such as the monetary policy of the major countries, the global trade situation, and the geopolitical situation, the international financial market became more volatile, the US dollar index increased by more than 2% and asset prices of major countries was adjusted. The combination of exchange rate conversion and asset price changes has led to a slight decline in the size of foreign exchange reserves.

IInforvellor not only posts global trade, finance and economy news on its blog, but also provides China import and export data with Chinese buyers and sellers list of various industries. Welcome to browse our blog and trade data!

Customs data – a professional, scientific and smart trade analysis tool

Tradedigits provides foreign trade enterprises with real-time customs trade data of 20 countries around the world which can be searched by a HS code. Our customs data services are characterized by numerous industries, extensive entries, multi-dimensional analysis, and timely updates. Our data records the major information of each exported or imported cargo, by which you can master the latest trade information and accurately find target customers.

Tradedigits’s customs data is uploaded to the International Business Intelligence Data Information Platform. Through this platform, you can download thousands of trading research reports and get name list of 15 million US buyers and 2.25 million Russian buyers. All these data resources can help help solve your business problems and make the regional market development and even the global trade development much easier.

A professional, scientific and intelligent analysis tool

The customs data on the International Business Intelligence Data Information Platform makes the statistics of global import and export, has the quantity and price trend analysis reports, and gives research reports for any target market, in the forms of chart, table or graph.

Users can use the intelligent trade analysis tools provided by Tradedigits to select the appropriate analysis model to conduct 360-degree market demand and competitive analysis. The tool can also help users evaluate market and make more reliable trade decisions.

● The most authoritative customs data – our data, coming from the official authorization of the customs, is the most authentic statistical data. All data can be verified in official channels.

● The most timely data update – our first-hand trading data is synchronized with official updates to help you stay up-to-date on trade changes in one target market.

US Import Shipment Data

US import data, based on the bills of lading submitted to US Customs, is a kind of shipment documents which contain all shipment records of all goods imported to the US. US import data are available for searching shipment record of any product shipped to any US port by sea.

As mentioned above, US import data is based on US bill of lading data, so US import data includes important details such as the names and addresses of the US importers and the names and addresses of the foreign suppliers. It can be used to track real and active US buyers or importers and their shippers or suppliers. US import customs data provides data reference to learn and analyse US importers, suppliers and US market situation.

Tradedigits provides relevant, accurate and available shipment information and trade analysis reports according an English product keywords.

By Tradedigits’s most accurate US import research reports and business intelligent statistics data, you are able to get the most accurate solution for your business. The analysis reports are in forms of structured forms, graph, charts, etc., making it easy to read. US import customs data is provided on a monthly basis or after a specific period of time according to the requirement of our customers.