Recently, due to weak external demand, continued malaise and other factors, the import and export trade of countries in the world is not ideal.
The latest data show that the exports of most countries, including Vietnam, South Korea, the United States, etc. are showing a downward trend, and the sluggish trend of global trade is difficult to quickly reverse in the short term, while the decline in exports may have a sustained impact on economic growth.
However, under the shadow of recession expectations and shrinking global trade, exports in Germany, Turkey and other countries have achieved bucking the trend.
Exports of many countries in the world continue to decline
China: Exports fell 9.2% in July
A few days ago, according to customs statistics, in July this year, China's exports were 2.02 trillion yuan, down 9.2%; The trade surplus was 575.7 billion yuan, down 14.6 percent. In US dollar terms, the export was 281.76 billion US dollars, down 14.5%, and the trade surplus was 80.6 billion US dollars, down 19.4%.
South Korea: Exports fell 16.5 per cent in July from a year earlier
Recently, according to the data released by the Ministry of Trade, Industry and Energy of South Korea, South Korea's exports in July fell 16.5% year-on-year to 50.33 billion US dollars, for the tenth consecutive month of decline, and hit the largest decline since May 2020.
South Korea's imports fell 25.4 per cent year-on-year to $48.71bn in July, resulting in a trade surplus of $1.63bn for the month, the data showed.
South Korea's Ministry of Trade, Industry and Energy said the drop in exports in July was due to continued low demand for semiconductors, weaker oil prices and a high base last year.
Data show that South Korea's main export chip exports in July fell 34% year-on-year, for 12 consecutive months of negative growth. In the first half of this year, South Korea's semiconductor exports amounted to $43.93 billion, down 36.8% year-on-year.
Japan: June exports fell 3.72 per cent from a year earlier
From January to June 2023, the total value of Japan's imports from the world fell by 7.8%, compared with 5.5% of Japan's imports from China, which is higher than global imports.
In June alone, Japan's imports amounted to 61.601 billion US dollars, down 17.62% year-on-year; The export value was 61.906 billion US dollars, down 3.72% year-on-year. Since April 2022, Japan's foreign exports have declined for 15 consecutive months.
Vietnam: Exports contracted 3.5% in July
Recently, Bloomberg reported that Vietnam's exports fell for five consecutive months in July, the longest decline in 14 years, and the export-dependent economy may struggle to achieve this year's 6.5% economic growth target.
According to data released by the Vietnam Statistics Bureau, Vietnam's exports contracted 3.5 percent in July, and exports in the first seven months of 2023 fell 10.6 percent year-on-year to $194.73 billion, while imports fell 17.1 percent to $179.5 billion.
United States: Exports of goods and services fell $300 million in June
The US Commerce Department disclosed data on August 8 that the US trade deficit in June narrowed by 4.1% from the previous month to $65.5 billion, with an expected deficit of $65 billion, and the revised trade deficit data narrowed from $69 billion to $68.3 billion in May.
U.S. exports of goods and services fell $300 million to $247.5 billion in June, while imports fell $3.1 billion to $313 billion.
Foreign trade of a few countries increased year-on-year
Germany: Exports rose 3.5 per cent in the first half from a year earlier
Recently, according to the commodity import and export data published by the German Federal Statistics Office, after calendar and seasonal adjustment, the value of German exports in the first half of 2023 was 791.4 billion euros, an increase of 3.5%;
The value of imported goods was 696.4 billion euros, down 4.6% year-on-year; The merchandise trade surplus was 95 billion euros, an increase of 1.46 times year-on-year.
Turkey: Exports rose 8.4% in July from a year earlier
Recently, according to the Turkish Trade Minister Borat announced that Turkey's exports in July increased by 8.4% year-on-year to $20.093 billion, a record high.
Despite the global production and trade contraction, earthquake disasters and other impacts, Turkey's exports in the first seven months of 2023 still reached 143.435 billion US dollars, close to the level of the previous year. The share of high-tech products in manufacturing exports increased from 36.9 percent in 2022 to 40.8 percent in the first seven months of this year.
Turkey's imports rose 11.1 percent year on year to $32.47 billion in July and totaled $217.5 billion in the first seven months of the year, up 5.1 percent year on year.
