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July 12, 2022 Economic and Trade Consulting

2022-07-12


1.    U.S. nonfarm payrolls rise, far more than expected

The U.S. Labor Department reported that nonfarm payrolls increased by 372,000 in June, far exceeding expectations for a gain of 268,000 and slightly worse than the 390,000 increase in May. Employment in leisure and hospitality increased by 67,000 month-over-month, employment in professional and business services increased by 74,000, employment in manufacturing increased by 29,000, and employment in retail trade increased by 16,000.


2.    Tanzania government announces changes to tax policy

A few days ago, the Ministry of Finance of Tanzania submitted the Fiscal Year 2022/2023 to the Parliament, announcing the adjustment of tax policies for sugar products, batteries, horticultural products, copper scrap, scrap metal, edible oil, fertilizers, etc. burden.


3.    French trade deficit hits record high of 12.994 billion euros

Recently, French customs released information saying that in May, the country exported 47.78 billion euros and imported 60.773 billion euros, with a trade deficit of 12.994 billion euros, the largest deficit on record. And said that the main reason for the increase in the country's trade deficit was that France's energy imports increased again, an increase of about 500 million euros from the previous month.


4.    Suez Canal annual revenue hits record high of US$7 billion

Recently, the Egyptian Suez Canal Authority announced that the canal’s revenue for the 2021/2022 fiscal year reached a record $7 billion, a year-on-year increase of 20.7%. About 1.32 billion tonnes of cargo were transported through the canal during this period, up 10.9% year-on-year and the largest annual net tonnage ever recorded.


5.    DHL Supply Chain Optimizes Packaging System to Save Costs and Carbon Emissions

Recently, DHL Supply Chain announced that it will provide enterprise customers with a new AI-on-demand packaging solution that helps optimize the fill volume of existing pre-configured packaging cartons to make single shipments more cost-effective and reduce carbon footprint. . And it can save up to 35% on delivery costs, with an average saving of 15%.

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