November 30, 2022 Today’s Economic and Trade Consulting
1. IMF: Trade fragmentation will cost the global economy $1.4 trillion
A few days ago, the head of the International Monetary Fund (IMF) Georgieva said that in addition to the severe damage caused by the Ukraine crisis, the increase in trade barriers in the past year may cause losses of 1.4 trillion US dollars to the global economy.
2. Hong Kong, China’s exports fell in October, down 10.4% year-on-year
Recently, the Census and Statistics Department of the Hong Kong Government released data that exports in October fell by 10.4% year-on-year, which was estimated to be a decrease of 8.0%; imports in October decreased by 11.9% year-on-year, and an estimated decrease of 6.4%. Decreases were recorded in the values of total exports to some major destinations, in particular Malaysia (-25.1%) and Japan (-24.1%).
3. Thailand: Foreign trade exports in October fell by 4.4% year-on-year
Thailand's Ministry of Commerce announced on November 28 that Thailand's foreign trade exports in October were US$21.772 billion, a decrease of 4.4% from the same month last year. In that month, Thailand's import value was US$223.68, a year-on-year decrease of 2.1%, and the trade deficit was US$596 million.
4. Brazil’s Black Friday revenue was 3.1 billion reals, a year-on-year decrease of 34%
Recently, a survey on Black Friday sales in Brazil showed that the country’s Black Friday e-commerce revenue was 3.1 billion reals, a decrease of 34% year-on-year. The number of orders also declined in 2022, totaling 4.7 million, a 28% decline compared to 2021.
5. Amazon will gradually shut down some of its Indian operations
On November 30th, Amazon announced that it will gradually close some of its operations in the Indian market as part of cost-cutting measures. Amazon said it would exit the food delivery market in India, as well as home delivery of packaged consumer goods for small businesses. In addition, several projects in beta testing may also be put on hold, according to people familiar with the matter. A few days ago, Amazon has announced that it will shut down the Indian learning platform "Amazon Academy" in the next few months.
6. The volume of container transportation from Asia to the United States has dropped three times in a row
A few days ago, the American research company Descartes-Datamin released data that in October, the volume of sea container shipments from Asia to the United States dropped to 1,492,832, a decrease of 18% from the same month of the previous year. Shipments of broad categories such as toys and apparel fell, up from a 13% drop in September.
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