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Pakistan's Export Surge: Leather Goods and Sports Equipment in 2024

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  In recent years, Pakistan has emerged as a significant player in the global market for leather goods and sports equipment. With exports reaching approximately $30 billion in 2024, the country has showcased its potential and resilience in these sectors. This remarkable achievement is not merely a reflection of increased production capabilities but also highlights the strategic initiatives undertaken by the government and private sector to enhance competitiveness. This blog explores the latest statistics, trends, and factors contributing to this remarkable growth. Overview of Pakistan's Export Landscape Pakistan’s economy has long been reliant on agriculture and textiles; however, the diversification into leather goods and sports equipment has become a focal point for growth. In 2024, the export figures revealed an increase, with leather goods and sports equipment accounting for a substantial of the total exports data. The global demand for high-quality leather products and sports ...

Turkey's Trade Landscape in 2024: Exports and Imports Overview

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  As Turkey navigates the complexities of the global economy in 2024, its trade dynamics reveal a robust export sector, projected to reach nearly $250 billion. This impressive figure underscores the country's strategic positioning in various key sectors, particularly textiles and agricultural products. However, Turkey's imports are estimated at around $300 billion, indicating a significant trade deficit that highlights ongoing challenges in balancing its external trade. This division between exports and imports not only reflects Turkey's economic strengths but also exposes vulnerabilities that could impact its growth trajectory. The reliance on imported energy and raw materials emphasizes the need for structural reforms and diversification strategies to enhance domestic production capabilities. As global markets evolve, Turkey must leverage its competitive advantages while addressing these challenges to ensure sustainable economic growth and resilience in the face of extern...

India's Agrochemical Exports Poised to Surge: A $10 Billion Opportunity Awaits

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  India's agrochemical exports are set to exceed Rs 80,000 crore in the next four years, contingent on a conducive environment, according to the Agro Chem Federation of India (ACFI) and EY. The report reveals that Indian export data shows agrochemical exports reached Rs 43,223 crore in the 2022-23 fiscal year, outpacing domestic consumption. To boost Indian trade data , the report calls for government initiatives like streamlined licensing, improved infrastructure, and incentives for biopesticide production. India's agrochemical industry stands out for its quality and affordability, making it the preferred choice for farmers across 130 countries. However, challenges remain, including heavy reliance on imports and a complex registration process for new molecules. ACFI Chairman Parikshit Mundhra emphasizes that the "Make in India" initiative can transform these challenges into opportunities, enhancing agricultural productivity and positioning India as a global manufa...

UK, "the world's biggest hard liquor"

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  The United Kingdom is the world's biggest exporter of hard liquor. These include whiskies, grape wine, rum, tafia, alcoholic liqueurs, alcoholic preparations, etc. During the financial year 2023, the UK's hard liquor exports were $8.5 billion. As compared to fiscal year 2022, there was a significant decline of 8.8% in the UK's hard liquor exports. As per UK import export data of 2022, the UK exported around $9.3 billion worth of liquors. In 2023, the United States was the biggest importer of hard liquor from the United Kingdom accounting for 18% share of the UK's overall liquor exports. According to the UK export data , over $1.6 billion worth of hard liquor exports were made to the United States during last year. Among the fastest growing markets for UK's liquor exports were France (7%), Singapore (5%) and Germany (4%). Also, there were notable amounts of liquor shipments to Germany, Spain, China and India.     84% of the UK’s hard liquor exports were whiskies w...

Mexico's beer exports hit record $5.2 Bn in 2023

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  Mexico is the biggest market for branded beers. Mexico was the leading exporter of beers across the global market. According to Mexico import export data , in 2023, around $5.2 billion worth of beers were exported by Mexico. Over 6789 shipments of beer were made across Mexico. The highest export value for Mexican beer was recorded in June 2023 with over $623 million worth.  The United States was the top market for Mexican beer. Around 88% of Mexico's overall beer exports went to the United States. Mexico export data shows over $5.1 billion worth of beer exports were recorded in 2023. There were a notable amount of Mexico's beer export shipments to the Dominican Republic, Guatemala, Colombia and Peru. Cervecera De Coahulia, Amazing Wines, and Bacardi were the top beer exporting brands from Mexico.  Heineken USA, Ambev Luxembourg and KHS GMBH were the top beer importing  companies from Mexico responsible for the majority of shipments last year.  Heineken USA, A...

Turkey's tomato exports surge to $535 Million during FY 2023

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  Turkey's tomato exports have been promising during last fiscal year. According to the Turkey export data reports around $545 million worth of tomato exports were made. As compared to the previous year, there was around 43% increase in Turkey's tomato exports. Turkey's tomato exports were to almost 52 countries.  Around 592 thousand tons of tomato shipments were made during fiscal year 2023. European Union countries were the top markets for Turkey's tomato exports. These were Ukraine, Germany, Poland, Romania, Netherlands, Bulgaria, United Kingdom, Russia, Italy, Spain, France, Estonia, etc.  Talya Fresh Agriculture, TekAsya Tarim Anon and Smyrna Greenhouse Tica were the leading tomato export companies from Turkey. Deci Frucht from Romanica, Fresh Point from Poland and Lehmann Troost from Netherlands were among the leading tomato importers from Turkey during FY 2023.  Apart from tomatoes, Turkey's major vegetables include chilli pepper, pomegranate, pumpkins, and ...

Malaysia, "the world's biggest supplier of copper powder & platinum clad metals"

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  Malaysia is the largest market for copper powder and platinum clad metals. It is the biggest exporter of copper powder and platinum metals. Malaysia import export data suggests that the country has exported over $864 million worth of copper powder during the financial year 2022. China is the most preferred market for Malaysia's copper powder exports along with Japan, South Korea, Hong Kong, India and Taiwan.  According to Malaysia export data , China was responsible for 85% share in Malaysia's overall copper powder exports. China made over $700 million imports of copper powder from Malaysia. Whereas, Japan and South Korea were responsible for 5% and 4% market share respectively. On the other hand, Copper alloys exports were merely $20 thousand during the financial year 2022. Singapore was the only destination for Malaysia’s copper alloys exports. Whereas, the overall copper exports from Malaysia were totaled to be $3 billion during FY 2022. China and Bangladesh were the two...

UK's medical cannabis imports saw 3x growth this year

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  Cannabis is a kind of drug most popularly known as marijuana that is used for medicinal and recreational drugs. In some countries, the illegal use of cannabis is restricted. Although, due to its health and medicinal benefits, it is widely used and exported globally. The global cannabis market is estimated to be $13.5 billion. The United Kingdom is the major medical cannabis producer and exporter globally and has recorded a high amount of shipments. The United Kingdom is likely to become the second largest cannabis market among the European countries. Along with Germany, the United Kingdom is receiving more demand from medical cannabis which includes flowers and extracts. The UK covers over 73% of the global cannabis market production. As the medical cannabis production from the Uk was totaled to be 487 tonnes. The United Kingdom is the biggest medical cannabis exporter. The UK’s cannabis exports prospered due to the high quality standard and competitive pricing. The UK export dat...

Egypt, "A major energy supplier to Europe"

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  Egypt is the 12th biggest exporter of Liquified natural gas. According to the Egypt import export data reports, around 8.9 billion cubic metres of LNG exports took place from Egypt during the financial year 2022. As compared to the previous year exports, there was steady growth in Egypt's LNG exports. Whereas, in FY 2019, around 4.7 bcm of LNG exports took place.  The lowest volume for Egypt’s LNG exports was recorded in FY 2018, 2 bcm. Turkey is the leading importer of natural gas from Egypt with over 22% share. Egypt export data shows that around 2.2 bcm of liquified natural gas were imported by Turkey from Egypt. European countries were among the top markets for Egypt’s LNG exports. Spain and France were the top LNG importers from Turkey. Spain and France were reported for over 1.4 bcm of LNG imports from Egypt during FY 2022. Italy was responsible for over 0.5 bcm of LNG imports from Egypt. Whereas, other European countries were responsible for over 1.2 bcm during last...

Vietnam optimistic about the positive growth in furniture exports to Europe

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  Vietnam's wooden products exports are continuously emerging in the global market. Vietnam's furniture exports are continuously increasing at an annual rate of 10%. Vietnam customs data reports show that around $16 billion of wooden products exports were recorded during fiscal year 2022. From $12 billion exports in FY 2020 to $14 billion exports in FY 2021, Vietnam has done significantly well in the forest products exports sector. European Union countries are the biggest market for Vietnam's wooden products exports, accounting for over 90% export share. After the EU, other major markets for Vietnam's wooden products exports are the United States, Japan, South Korea and China.  Although, Vietnam 's wooden products exports during the first eight months of FY 2023. Vietnam is working on reviving its wooden products exports this year. According to Vietnam import export data , the United Kingdom which is the biggest market for Vietnam's wooden products exports have...