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Showing posts from November, 2023

Venezuela, an alternative to meet rising global crude oil demand

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  Venezuela is a very diverse country with a rich heritage. Venezuela has the biggest oil reserves in the world. Venezuela is a prominent producer of petroleum goods. It is the 25th leading oil producer globally. It is the 8th vital member of OPEC (Organization of the Petroleum Exporting Countries). The Venezuelan economy relies mostly on its petroleum exports. It is the epitome of the Venezuelan economy.  This financial year, Venezuela produced over 6,95,000 bpd (barrels per day). According to the Venezuela import export data reports, the country's crude petroleum exports were estimated to be around $5.98 million during fiscal year 2021. Venezuela's crude petroleum exports were mostly to Malaysia, United Arab Emirates and Italy.  Asian countries were the top markets for Venezuelan crude oil exports accounting for over 415 thousand barrels per day. These were responsible for over 90% market share. Whereas, the United States was the second most favoured market for Venezue...

Argentina, "a potential market for agribusiness exports"

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  Argentina is a farming-centric country. Argentina is known for producing numerous varieties of crops. Argentina's major agricultural exports include soybean meal, soybeans, corn, wheat, barley, ground nuts, sorghum, bran, and dried legumes. It is the leading exporter of soybean meals, groundnuts, bran, and vegetable waste. Being the leading soybean meal exporter, Argentina customs data reports show over $12 billion worth of soybeans during fiscal year 2022. China was the leading soybean meal importer from Argentina along with Egypt, Russia, Malaysia, and the United States. Oleaginosa Moreno Hnos, Aceitera General Deheza, Bunge Argentina, and Molinos Agro are some of the leading soybean meal export companies from Argentina. Corn is the second leading agricultural export from Argentina. Argentina import export data shows that over $10 billion worth of corn shipments were made last year. Vietnam and South Korea were the top markets for Argentina's corn exports contributing to ...

China's imports of soybean from Brazil rose to 70% in October

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  Although China is a prominent supplier of soybean in the global market, there were a hefty amount of soybean imports made by China. Brazil, which is the leading supplier of soybeans in the global market, has exported a noticeable amount of soybeans to China.   China import data shows that there was a 70% rise in the imports of soybeans from Brazil. Around 4.9 MMT of soybeans was imported to China from Brazil last year. Whereas, the shipment from the United States declined by 70% last month.  According to the China customs data , China has imported over 100 million worth of soybean from Brazil during this fiscal year. Sichuan Leshan Fuhua, Sino-Agri Red Sun Bio-technology, Fujian Huanong Food and Agrora were among the top China agri imports companies for that fiscal year. The rise in China's soybean imports from Brazil came mostly due to the rise in the soybean meal demand among poultry and vegetable oil sectors. China is looking to foster its soybean supply. Brazil has...

Turkey made record gold import from Switzerland this year

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  Switzerland is one of the key trading partners of Turkey. The recent Turkey import data shows that Turkey's gold imports from Switzerland have seen whopping growth this year. Over 56 tons of swiss gold was imported by Turkey in the last month. It is the highest value recorded ever in 11 years.  According to the Turkey customs data , the total gold imports from Switzerland were almost $10 billion swiss francs last year. Switzerland is the third most favoured market for Turkey's gold imports. Along with Switzerland, United Arab Emirates, Iraq, Mauritania, South Africa, Belgium, United Kingdom, Russia and Bolivia are other noticeable gold exporters to Turkey. South Africa and Bolivia had exported a considerable amount of gold exports to Turkey. On the other hand, Turkey’s gold exports were over $4.5 billion in the financial year 2022. The country’s gold exports were mostly to the United Kingdom, United Arab Emirates, Mauritania, Nepal, Malaysia, and the United States. Turkey...

Mexico planning to expand its metal exports

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  Mexico has made a remarkable amount of metals exports during this financial year. It has rich reserves of metals and minerals. Mexico’s key metal exports are iron, steel, aluminium, gold, zinc, and silver. The United States is the most favoured destination for Mexican metal exports. The Mexican government is emphasising more on increasing its metal exports. In this blog you will read a detailed report on Mexico’s metal exports from the financial year 2022-23. Iron & Steel The latest Mexico export data shows that Mexico's iron and steel exports were recorded to be $10 billion in the fiscal year 2023. This year, Mexico's iron and steel exports were to over 80+ countries. Over 187K iron and steel shipments were made during this year. The United States was the top iron and steel exporter to Mexico with over 40% market share. Guatemala, Colombia, Argentina, Canada, Panama, Costa Rica, Peru and India were other major markets for Mexico's iron and steel exports. Ternium Mex...

Russia made record car imports from Kyrgyzstan

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  Kyrgyzstan is a crucial trade partner for Russia. The bilateral trade has prospered over the years. Kyrgyzstan exports to Russia have increased significantly over the years. Russia import data reflects that around $548 million worth of imports from Kyrgyzstan were made during the fiscal year 2022. Russia's main imports from Kyrgyzstan include copper scrap, dry fruits, floating glass, knit sweaters, butter, motor parts and accessories. Recently, car imports from Russia have increased consecutively this year. Kyrgyzstan is slowly becoming the top car supplier to Russia.  The latest Russia import export data shows that over 892,356 passenger cars were exported to Russia during the fiscal year 2023. Compared to the previous year, Russia's car imports from Kyrgyzstan were 2.6 times more than the previous year. Apart from Kyrgyzstan, Russia's majority of the car imports came from China which contributed to over 80% of Russia's overall car imports.  China export data show...

Belgium, "the second leading European market for beer exports"

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  The latest Belgium export data reports shows that Belgium has become the second leading supplier of beer across the European market. It is only second after the Netherlands which is the top beer exporter globally. Also, it is the third biggest beer exporter in the world. Last year, Belgium accounted for over 16% share of Europe's overall beverages exports. Beer exports shipments from Belgium were estimated to be 1.5 billion litres during FY 2022. In the financial year 2022, Belgium beer exports were recorded to be $2 billion. Belgium's beer exports were mostly to France, Netherlands, United States, Italy, Spain, China and the United Kingdom. Belgium import export data shows that France was responsible for over 35% market share in Belgium's overall beer exports while the Netherlands was responsible for 18% market share.  Although compared to last year, Belgium beer exports declined by 5.5% this year. This is basically as the companies are setting their base across the gl...

Germany's rapeseed imports hit record 5.7 MT in FY 2023

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  Germany is the leading rapeseed importer in the world. As, rapeseeds are used in the edible oil, biodiesel, and animal feed production. It is the most important source of vegetable oil and can be used in cooking. Despite being record harvest, Germany is continuously making record imports of rapeseed to meet these requirements.  According to the Germany import data , Germany’s rapeseed imports during the fiscal year 2022 were estimated to be around $632 million. Over 5.72 million tons worth of shipments were made by Germany last year. Germany’s majority of the rapeseed imports came from Australia which was the biggest rapeseed supplier to Germany. Germany import export data reflects that Australia has exported around 1.4 million tonnes of rapeseed to Germany this year. The exports were estimated to be over $300 million in FY 2022. Other major rapeseed exporters to Germany were Netherlands, Ukraine, France, Czech Republic, Belgium and Romania. Whereas, Germany made a noticeab...

Austria's Medicaments Exports Overview

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  Medicaments are the most exported products of Austria. Austria is the 18th leading exporter of medicaments around the world. According to the Austria export data , over 6 billion worth of medicaments were exported from Austria during fiscal year 2022. Some of the prominent pharmaceutical products exports from Austria include Human/Animal blood, Vaccines, packaged medicines, pharmaceutical preparations, glands and extracts. The top destinations for Austria's medicaments exports were the United States, Germany, Italy, Vietnam and Denmark. There were some noticeable amounts of Austria’s medicaments exports to Croatia, France, Switzerland, Brazil and the Netherlands. The United States was the top importer of medicaments from Austria with over 17% market share. Whereas, Germany and Italy had 16% and 13% share respectively. Human/Animal blood and vaccines are top most pharmaceutical exports from Austria with worth over 6.38 billion euros in FY 2022. Belgium, Russia, Germany, Switzerlan...