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Trade Foresight ™️
@foresight_trade
World's first Data-Driven Trade Platform, that provides comprehensive Global Trade Data to Traders & Governments in an understandable & actionable form.
Joined May 2020
5 Following
48 Followers
567 Posts
Trade Foresight extends heartfelt wishes for a joyous Eid filled with blessings, happiness, and peace.
Eid Mubarak to you and your loved ones! 🌙✨
#EidMubarak #TradeForesight #Celebration
Russia Implements Strategic Six-Month Ban on Gasoline Exports to Fortify Domestic Markets Amid Rising Demand and Geopolitical Challenges
Russia has implemented a six-month ban on gasoline exports, effective from March 1, with the primary objective of stabilizing domestic prices amidst increased demand. The ban, sanctioned by Prime Minister Mikhail Mishustin after a proposal from Deputy Prime Minister Alexander Novak, aims to address excessive demand for petroleum products and allow for essential refinery maintenance. The decision comes against the backdrop of challenges facing Russia, including disruptions caused by Ukrainian drone attacks on refineries and the ongoing conflict with Ukraine. The ban will not apply to member states of the Eurasian Economic Union, Mongolia, Uzbekistan, and two Russian-backed breakaway regions of Georgia (South Ossetia and Abkhazia).
Russia, as the world's second-largest oil exporter, relies heavily on oil, oil products, and gas exports, which form a significant portion of its foreign currency revenue. The country has been cooperating with Saudi Arabia, the world's largest oil exporter, within the OPEC+ framework to maintain higher oil prices. Notably, Russia is already voluntarily reducing its oil and fuel exports by 500,000 barrels per day in the first quarter as part of OPEC+ efforts to support prices.
Last year, Russia enforced a similar ban on gasoline exports between September and November to address high domestic prices and shortages. The ban this time is strategically timed to coincide with the March 15-17 presidential election, where domestic gasoline prices hold sensitivity for voters. This latest move underscores Russia's commitment to stabilizing its domestic market while navigating challenges posed by geopolitical conflicts and disruptions in its energy infrastructure.
Stay informed with the latest news and trends by subscribing to our portal Trade Foresight.
#GlobalTradeInsights #Russia
Meet our Team at Gulfood 2024 in Dubai
What awaits?
- B2B Meetings
- 30+ Million Business Connections
- Trade Financing
- Expand your Business Globally
📍 Dubai World Trade Center
📅 19th Feb - 23 Feb 2024
Sign up at: https://t.co/jj7GLRwLpb
Email: [email protected]
Call or WhatsApp: +971 52 669 4195
#Gulfood24 #Dubai #TradeForesight
ECC Greenlights Strategic Tax Reform: Sales Tax Hike on Locally Manufactured Vehicles Approved
During a recent meeting of the Economic Coordination Committee (ECC) of the Cabinet, crucial decisions were made regarding the taxation on locally manufactured or assembled vehicles. Chaired by Federal Minister for Finance, Revenue, and Economic Affairs, Dr. Shamshad Akhtar, the ECC approved a proposal presented by the Federal Board of Revenue (FBR). This proposal aims at increasing the sales tax rate on such vehicles.
The ECC meeting saw the presence of several key ministers, including Minister for Privatization and Inter-Provincial Coordination Fawad Hasan Fawad, Minister for Interior, Commerce & Industries Mr. Gohar Ejaz, Minister for Energy and Petroleum Division Mr. Mohammad Ali, Minister for Planning, Development and Special Initiatives Mr. Sami Saeed, Minister of Maritime Affairs, Communication and Railways Shahid Ashraf Tarar, and others.
The specific proposal discussed by the ECC pertained to the "Rationalization of Criterion of Enhanced Rate of 25% Sales Tax on Locally Manufactured/Assembled Vehicles (PCT87.03)." The ECC's approval indicates a significant development in taxation policy, particularly impacting the automotive industry, and underscores the government's efforts to address fiscal matters and revenue generation.
Stay informed with the latest news and trends by subscribing to our portal Trade Foresight.
#Pakistan #TradeForesight #business
China's November Export Reversal: A Detailed Analysis of the Uptick Amid Global Challenges
Key Insights:
End to Consecutive Declines: After six consecutive months of declining exports, China witnessed a marginal rebound in November, with a 0.5% year-on-year growth.
Contrasting October Figures: The November uptick contrasts sharply with October, where exports experienced a notable 6.4% decline, revealing a shift in the trend.
Analyst Expectations: Economic analysts, surveyed by The Wall Street Journal, had anticipated a stagnation in exports for November, highlighting the unexpected positive performance.
Manufacturer Strategies: China's export growth is attributed, in part, to strategic pricing by manufacturers. Slashing prices has been a key tactic to gain global market share.
Record Trade Volumes: Despite the decline in export values, trade volumes have reached record highs, showcasing the effectiveness of China's market share strategy.
Global Challenges: The positive export trajectory comes amid challenging global conditions, including elevated interest rates and geopolitical tensions in the Middle East and Ukraine, dampening global demand.
Pre-November Export Trends: Prior to November, the measured value of exports had been consistently falling, emphasizing the significance of the recent upturn.
In November, China experienced a modest resurgence in its export sector, marking a departure from six consecutive months of decline. The data released by China’s General Administration of Customs reveals a marginal growth of 0.5% in exports compared to the same period last year. This contrasts with a notable 6.4% contraction observed in October. It is noteworthy that economic analysts, as surveyed by The Wall Street Journal, had anticipated a stagnation in exports for the same period.
The recent positive trajectory in China's exports can be attributed, in part, to a strategic pricing approach adopted by the country's manufacturers. In a bid to enhance global market share, these manufacturers have been proactive in reducing prices. This development has proven instrumental in sustaining trade volumes at record highs. It is crucial to acknowledge that this increase in export volume comes against a backdrop of challenging global conditions, including heightened interest rates and geopolitical tensions in the Middle East and Ukraine, which have collectively subdued global demand. It is pertinent to mention that the measured value of exports experienced a consistent decline in the months leading up to November.
Stay informed with the latest news and trends by subscribing to our portal Trade Foresight.
#TradeForesight #China #tradenews
"Pakistan's Mounting Debt Challenge: A Rs17.4 Trillion Surge Sparks Concerns Over Economic Stability"
Pakistan's accumulated total debt and liabilities have surged to Rs81.2 trillion, marking a rapid growth of over 27% in the past year.
The State Bank of Pakistan (SBP) revealed in a recent bulletin that the country's total debt and liabilities surged by Rs17.4 trillion, reaching Rs81.2 trillion by the end of December compared to the previous year. The government's debt accumulation rate was exceptionally high at 27.2%, averaging Rs48 billion per day since December 2022.
The Ministry of Finance's Fiscal Policy Statement 2024 highlighted a significant rise in the debt burden during the fiscal year 2022-23. Every citizen's debt burden increased by 25.2%, amounting to Rs271,624 by the end of the previous fiscal year. The SBP data indicated that the country paid Rs4.4 trillion in interest costs during the first half of the current fiscal year, two-thirds higher than the same period in the previous fiscal year.
The primary reasons behind the surge in public debt include lower-than-targeted tax collection, steep currency devaluation, higher interest rates, increased expenditures, losses by state-owned enterprises, and mismanagement of debt.
Addressing the growing debt burden poses a significant challenge for the newly elected government, requiring tough decisions and reforms in various sectors, including state-owned enterprises.
Stay informed with the latest news and trends by subscribing to our portal Trade Foresight.
#GlobalTradeInsights #Dollar #Pakistan
Business Economists Express Cautious Optimism for U.S. Economy in 2024 Amid External Concerns and Inflation Pressures
Survey: 25% of economists predict a U.S. recession in 2024 due to external shocks. Inflation expected to exceed the Fed's target. Concerns include China-Taiwan conflict, Middle East tensions, and worries about U.S. political instability. Calls for disciplined government budget policies.
A recent survey by the National Association of Business Economics reveals that only a quarter of business economists and analysts anticipate a U.S. recession in the current year, with any potential downturn likely stemming from external shocks, such as a conflict involving China, rather than domestic economic factors like higher interest rates.
Despite expectations of continued economic growth, respondents project year-over-year inflation to surpass the Federal Reserve's 2% target through 2024, with concerns over a potential conflict between China and Taiwan and instability in the Middle East.
The survey also highlights apprehensions about political instability in the United States pre- and post-presidential election and a growing worry regarding U.S. government finances. Respondents express a preference for more disciplined budget policies, emphasizing objectives such as promoting medium- to long-term growth and reducing federal deficits and debts, while reducing income inequality is considered a lesser priority.
The Federal Reserve's decision to halt rate hikes and signal a potential reduction in rates receives mixed opinions, with a notable portion of respondents expressing concerns about unnecessarily high rates.
Stay informed with the latest news and trends by subscribing our portal Trade Foresight.
Subscribe Now: https://t.co/jj7GLRwLpb
#Tradeforesight #UnitedStates #Inflation
Hold onto your Dirhams!
Can you guess who topped the charts?
UAE's Top 10 Import Partners Revealed (2013-2023)
#UAEImport #Tradeforesight #TradeAnalysis #Tradenews
European Commission Unveils 13th Sanctions Package on Russia, Prioritizing Swift Approval Amidst Calls for Caution
The European Commission is poised to unveil its 13th package of sanctions against Russia, scheduled to coincide with the second anniversary of Russia's invasion of Ukraine on Feb. 24.
Contrary to some calls for additional import bans, EU diplomats indicate that no new prohibitions will be included in this upcoming package. The Commission aims for swift approval by proposing measures that minimize debate among member states, as unanimity is required for the adoption of new sanctions.
The proposed package is expected to feature numerous listings of entities and individuals, without targeting major companies. Additionally, it will broaden the list of Russian firms prohibited from receiving dual-use goods from EU entities.
Following the passage of this 13th package, the Commission is set to introduce a 14th set of measures, potentially encompassing new import bans. The EU has already imposed restrictions on significant items such as sea-borne Russian oil imports and diamonds. Notably, Brussels deems achieving unanimous agreement on sanctions related to Russian nuclear fuel and liquefied natural gas as currently challenging.
Furthermore, the EU plans to enact legislation to allocate windfall revenues from Russia's immobilized assets, estimated at around 300 billion euros, mostly situated in Europe, to support Ukraine's reconstruction, amounting to approximately 15 billion euros over a four-year period.
Stay informed with the latest news and trends by subscribing to our portal Trade Foresight.
#GlobalTradeInsights #EuropeanUnion #russia
@InverexSolar signs up expansion partnership with Trade Foresight
You can also expand your business Globally
Sign Up Now: https://t.co/45jpChjGbS
#tradeforesight #GoGlobal #BusinessExpansion
Saudi Arabia Celebrates Tourism Triumph: 156% Surge in International Arrivals in 2023:
In a remarkable achievement, Saudi Arabia experienced a staggering 156% surge in international tourism arrivals in 2023 compared to 2019, as reported by the World Tourism Organization's Barometer.
This growth not only signifies a robust recovery from the pandemic's impact but also establishes the Kingdom as a key contributor to the resurgence of Middle Eastern tourism, which saw an overall 22% increase in 2023.
Despite the global tourism sector being 12% below pre-pandemic levels, Saudi Arabia's tourism sector leads the G20 in growth and ranks as the second-fastest-growing tourist destination globally. The country witnessed increased visitor spending, with over SR100 billion in international visitor expenditures reported by the Saudi Central Bank.
As Saudi Arabia continues its ascent as a global tourist hotspot, plans for 2024 include showcasing destinations like AlUla, Diriyah, Yanbu, and Abha, along with hosting major events such as the Saudi Arabian Grand Prix, Diriyah E-Prix, and cultural festivals.
Stay informed with the latest news and trends by subscribing to our portal Trade Foresight.
#GlobalTradeInsights #tradeforesight #saudiarabia
Unlock global connectivity and tech-driven opportunities with the export of electronic integrated circuits (HS Code 8542) – the backbone of innovation, poised to shape the future of digital communication and social media worldwide.
Trade Foresight is delighted to present an exclusive Electronic Integrated Circuit Export Report, providing unparalleled insights into the global landscape of this dynamic industry. Seize the opportunity to unravel the untapped potential of electronic integrated circuits worldwide. Elevate your trading strategy.
Download the report: https://t.co/y7PhWGpG1T
#tradeforesight #tradenews
PAKISTAN'S HISTORIC DEBUT INTO THE USD 15 BILLION MEAT INDUSTRY BY SENDING THE FIRST CONSIGNMENT OF HEAT-TREATED BEEF TO CHINA
Trade Foresight is thrilled to grant you exclusive access to an in-depth Bovine Meat Export Report for Pakistan, offering comprehensive insights into this lucrative industry.
Unlock the untapped potential of Pakistan's bovine meat exports! Elevate your trading strategy now.
Click to explore: https://t.co/sHw5sbw1DM
#TradeForesight #beefexport #Pakistan
Ukrainian soybean prices fell by $20/t across all sales channels: Soybean prices in Ukraine have dropped by $20/t due to a decrease in global quotations, with current demand prices for GMO soybeans ranging from $440-450/t in Odesa, Ukraine to $510-515/t in Egypt.
On the other hand, sunflower prices have seen an increase of $10/t, with demand prices varying from $330-350/t in Ukraine to $430-440/t in Bulgaria.
Between September and December 2023, Ukraine exported 133 thousand tons of sunflower, primarily to Turkey.
Stay informed with the latest news and trends by subscribing to our portal Trade Foresight.
#TradeNews #TradeForesight
Attention Poultry and Egg Exporters! Here's a game-changing development:
In response to the collective effort to prevent the introduction of High Pathogenicity Avian Influenza (HPAI) virus, import suspensions on poultry meat or egg products have been imposed by Japan's Ministry of Agriculture, Forestry, and Fisheries (MAFF) from certain regions including Belgium, Hungary, Lithuania, and the United States. Simultaneously, Kuwait has also joined this initiative by implementing a ban on the import of these products, setting the stage for exporters to explore untapped markets.
Consider the vast market potential: Poultry meat exports to Japan from Belgium, Hungary, and the USA were valued at $110.6M, $676.4M, and $5404M in 2022, respectively. Similarly, egg exports from Belgium, Hungary, and the USA amounted to $196M, $78M, and $566M in 2022, creating a substantial market for poultry and egg products.
Notably, Kuwait's import figures (year-2022) for poultry meat stand at approximately $248M and for eggs at around $47M, highlighting a significant demand for these products. The HS codes for Poultry Meat and Eggs are 0207 and 0407, respectively.
These developments provide a unique opportunity to diversify market reach, boost revenue streams, and bridge the current gap due to import suspensions in Japan and Kuwait. To benefit from this opportunity, ensuring that products meet rigorous quality standards, exploring new distribution channels, and considering collaborations in these markets are key steps. This represents a chance to break into thriving poultry and egg markets, with support available to navigate regulations, explore partnerships, and elevate brands. Don't miss out; the time to act is now!
#TradeNews #PoultryIndustry #TradeForesight
Today is the final day of Pakistan's 3rd Engineering and Healthcare Show in Lahore, and we can't wait to welcome you one last time at our booth!
It's been an incredible journey of discovery, innovation, and connection, and we couldn't have asked for a more successful event.
Meet our team and unlock 30+ million global trading partners for your business.
Meet us at
📍 Lahore Expo Centre
🚩 Hall # 3, Booth No. 6
🗓 18th - 20th Jan 2024
#tradeforesight #lahore
Day 2 at the Engineering & Healthcare Show: Trade Foresight Welcomes International Delegations!
The second day of Pakistan's 3rd Engineering and Healthcare Show in Lahore buzzed with excitement, and the Trade Foresight booth was no exception! Throughout the day, we had the pleasure of welcoming esteemed guests from various countries, eager to explore the innovative solutions and expertise we offer.
Meet us at
📍 Lahore Expo Centre
🚩 Hall # 3, Booth No. 6
🗓 18th - 20th Jan 2024
🚀 What Awaits:
- B2B Meetings
- 30+ Million Business Connections
- Trade Financing
- Live demonstrations of Ai Based Marketplace Catalogue Plus
#tradeforesight #lahore
Mr Ali Muqaddas General Secretary of Pakistan Gloves Manufacturer Association, Sialkot with our Sales champ Syed Armaghan at Pakistan's 3rd Engineering and Healthcare Show in Lahore
Meet us at
📍 Lahore Expo Centre
🚩 Hall # 3, Booth No. 6
🗓 18th - 20th Jan 2024
#tradeforesight #lahore
Day 1 Glimpse of Pakistan's 3rd Engineering and Healthcare Show in Lahore
Today is the 2nd day of the event meet our team and get ready for a business experience like never before!
🚀 What Awaits:
- B2B Meetings
- 30+ Million Business Connections
- Trade Financing
- Live demonstrations of Ai Based Marketplace Catalogue Plus
Meet us at
📍 Lahore Expo Centre
🚩 Hall # 3, Booth No. 6
🗓 18th - 20th Jan 2024
Sign Up Now: https://t.co/jj7GLRxjeJ
#tradeforesight #lahore
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