Overall decline! Let's take a look at the latest import and export data released by various countries

Recently, due to factors such as weak external demand and continued decline, the import and export trade of countries around the world has not been ideal. The latest data shows that most countries, including Vietnam, South Korea, Brazil, and the United States, have shown a downward trend in exports. The sluggish global trade situation is difficult to quickly reverse in the short term, and the decline in exports may have a sustained impact on economic growth.

However, under the expectation of economic recession and the cloud of shrinking global trade, the exports of Germany, Türkiye, Uzbekistan and other countries achieved counter trend growth. Come and take a look with the editor!

Exports from multiple countries around the world continue to decline
Vietnam
Export contracted by 3.5% in July
According to Bloomberg, Vietnam's exports fell for five consecutive months in July, marking the longest decline in 14 years. This foreign trade dependent economy may struggle to achieve its 6.5% economic growth target this year. According to data released by the Vietnamese Bureau of Statistics, Vietnam's exports contracted by 3.5% in July, and in the first seven months of 2023, exports decreased by 10.6% year-on-year to $194.73 billion, while imports decreased by 17.1% to $179.5 billion. Among them, the export value of smartphones, Vietnam's largest foreign exchange earning product, decreased by 18.3% from January to July 2023, to $27.8 billion.
Vietnam's core industry, the textile industry, also faces numerous difficulties. According to data from the Ho Chi Minh City Business Association in Vietnam, Vietnam's exports decreased by 11.9% in the first quarter of this year, with textile industry export orders declining by 70-80%, resulting in the shutdown of 42900 factories. In the second quarter, Vietnam's textile industry's export orders decreased by another 80%. The Vietnamese Ministry of Industry and Trade has previously warned that the global economic situation shrouded in clouds has led to weak demand, which may harm Vietnam's export landscape.
Korea
Exports decreased by 16.5% year-on-year in July
According to Yonhap News Agency, on August 1st local time, data released by the South Korean Ministry of Industry, Commerce, and Resources showed that South Korea's export volume decreased by 16.5% year-on-year in July, to $50.33 billion, marking the tenth consecutive month of decline and the largest decline since May 2020. Data shows that South Korea's imports decreased by 25.4% year-on-year in July to $48.71 billion, resulting in a trade surplus of $1.63 billion that month.
The South Korean Ministry of Industry, Commerce, and Resources stated that the decline in exports in July was due to the continued sluggish demand for semiconductors, weak oil prices, and a high base from last year. Data shows that the export value of South Korea's main export product chips in July decreased by 34% year-on-year, marking the 12th consecutive month of negative growth. In the first half of this year, South Korean semiconductor exports amounted to $43.93 billion, a year-on-year decrease of 36.8%.
Brazil
Exports decreased by 2.6% year-on-year in July
According to the South American Overseas Chinese News, the Brazilian Ministry of Development, Industry, Foreign Trade and Services (MDIC) announced that the trade surplus in July this year reached 9.035 billion US dollars, an increase of 68.7% compared to the same period last year, setting a new historical high. But in terms of monthly trade data, Brazil's imports and exports both decreased in July. Among them, Brazil's export volume for the month totaled $29.062 billion, a year-on-year decrease of 2.6%; The import volume for the month was $20.027 billion, a year-on-year decrease of 18.2%. In terms of export trade, the decrease in commodity sales revenue is the main reason for the decrease in export volume.
Chile
Exports decreased by 7.6% year-on-year in July
According to a report by the Central Bank of Chile, based on offshore prices, Chile's total exports in July were 7.394 billion US dollars, a year-on-year decrease of 7.6%, marking the tenth consecutive month of decline. The total imports were 6.58 billion US dollars, a year-on-year decrease of 17%; The trade surplus was 814 million US dollars, a significant decrease from last month's 1.574 billion US dollars, and dropped to the lowest level since November 2022, while foreign trade continued to be weak.
Argentina
Exports decreased by 35.4% year-on-year in June
According to data released by the Argentine National Bureau of Statistics and Census, Argentina's total exports in June were $5.45 billion, a year-on-year decrease of 35.4%, while its total imports during the same period were $7.177 billion, a year-on-year decrease of 17.2%. The trade deficit for the month reached 1.727 billion US dollars. In addition, in the first half of 2023, the total export value of Afghanistan was 33.509 billion US dollars, a year-on-year decrease of 24.5%; The total import amount was 37.897 billion US dollars, a year-on-year decrease of 8.5%. In the first half of 2023, the trade deficit between Afghanistan and Afghanistan reached 4.387 billion US dollars.
Tajikistan
Export decreased by 44.2% year-on-year in the first half of the year
From January to June this year, Tajikistan's foreign trade volume was approximately 3.415 billion US dollars, a year-on-year decrease of 2.8%; Among them, the export volume was approximately 679 million US dollars, a year-on-year decrease of 44.2%; The import volume is about 2.736 billion US dollars, a year-on-year increase of 19.1%; The trade deficit is approximately 2.058 billion US dollars.
India
Exports decreased by 22.0% year-on-year in June
The preliminary foreign trade data released by the Indian Ministry of Commerce and Industry on July 14th shows that in June 2023, the total import and export value of Indian goods reached 86.06 billion US dollars, a year-on-year decrease of 19.3%. Among them, the export of goods reached 32.966 billion US dollars, a year-on-year decrease of 22.0%; The import of goods reached 53.099 billion US dollars, a year-on-year decrease of 17.5%; The trade deficit in goods reached 20.133 billion US dollars, a year-on-year decrease of 8.8%.
From January to June 2023, the total import and export value of Indian goods reached 532.792 billion US dollars, a year-on-year decrease of 10.2%. Among them, the export of goods reached 210.757 billion US dollars, a year-on-year decrease of 11.4%; The import of goods reached 322.035 billion US dollars, a year-on-year decrease of 9.3%; The trade deficit in goods reached $111.278 billion, a decrease of 5.0% year-on-year.
Indonesia
Exports decreased by 21.18% year-on-year in June
According to data from the Indonesian Central Bureau of Statistics, Indonesia's export volume in June was 20.61 billion US dollars, a decrease from May's 21.72 billion US dollars. Maldiyanto, Chief Secretary of the Indonesian Central Bureau of Statistics, stated that from an annual perspective, Indonesia's exports experienced a deep decline in June, with a year-on-year decrease of 21.18%. In addition, from January to June 2023, Indonesia achieved a cumulative export volume of 128.66 billion US dollars, a decrease of 8.86% compared to the same period in 2022. Some analysts believe that Indonesian exports will continue to be weak. At present, the Indonesian government is making efforts in various aspects to improve its export performance in the second half of the year.
Singapore
Export volume decreased by 15.5% year-on-year in June
According to the latest data released by the Singapore Enterprise Development Authority in July, non oil domestic exports decreased by 15.5% year-on-year in June, continuing the downward trend of previous months. In its top ten markets, exports of electronic and non electronic products to most markets have declined.
Malaysia
Export decreased by 14.1% year-on-year in June
According to data released by the Malaysian Department of Statistics, Malaysia's total foreign trade in the first half of this year was $282.45 billion, a decrease of 4.6% compared to the same period last year. Among them, in June this year, the total foreign trade volume of the country was 48.70 billion US dollars, a decrease of 16.3% compared to the same period last year. Since March this year, Malaysia's monthly total foreign trade has been declining year-on-year for four consecutive months. In June of this year, the country's exports decreased by 14.1% compared to the same period last year, while imports decreased by 18.9% compared to the same period last year, the highest decline since the beginning of this year.
Thailand
Exports fell 6.4% in June
According to recent news from Thai media, the Ministry of Commerce of Thailand stated that in June 2023, Thailand's exports reached 24.82 billion US dollars, a decrease of 6.4%, marking the ninth consecutive month of contraction. Exports of all products, including agricultural products, agricultural industrial products, and industrial products, have declined due to the fact that the economies of trading partner countries have not yet recovered under inflationary and high interest rate pressures, leading to a tightening of production and consumption. In addition, the export base for the same period last year was also at a relatively high level, The export value in June 2022 reached as high as 26.52 billion US dollars. From the overall situation from January to June 2023, Thailand's exports reached $141.17 billion, a year-on-year decrease of 5.4%.
Japan
Exports decreased by 3.72% year-on-year in June
From January to June 2023, Japan's total global import value decreased by 7.8%, compared to a 5.5% decrease in Japan's imports from China (according to the Japanese Ministry of Finance), which is higher than global imports. In June, Japan's imports amounted to $61.601 billion, a year-on-year decrease of 17.62%; The export amount was 61.906 billion US dollars, a year-on-year decrease of 3.72%. Since April 2022, Japan's foreign exports have been declining for 15 consecutive months.
Bosnia and Herzegovina
Exports decreased by 4.5% year-on-year in the first half of the year
According to data from the National Bureau of Statistics of Bosnia and Herzegovina, the foreign trade deficit of Bosnia and Herzegovina increased from 4.61 billion marks in the same period last year to 4.93 billion marks in the first half of this year. Among them, Bosnia and Herzegovina exported 8.68 billion marks, a year-on-year decrease of 4.5%; Imports amounted to 13.61 billion marks, a year-on-year decrease of 0.6%.
United States
Exports of goods and services decreased by $300 million in June
On August 8th, the US Department of Commerce disclosed data that the US trade deficit narrowed by 4.1% month on month to $65.5 billion in June, with an expected deficit of $65 billion. The revised trade deficit data in May narrowed from $69 billion to $68.3 billion. The export value of goods and services in the United States decreased by $300 million to $247.5 billion in June, while the import value decreased by $3.1 billion to $313 billion.
Foreign trade of a few countries such as Germany increased year-on-year
Germany
Export growth of 3.5% year-on-year in the first half of the year
According to the import and export data of goods published by the German Federal Bureau of Statistics on August 3rd, after adjusting for calendar and season, the total value of German exports in the first half of 2023 was 791.4 billion euros, a year-on-year increase of 3.5%; The total value of imported goods was 696.4 billion euros, a year-on-year decrease of 4.6%; The trade surplus of goods was 95 billion euros, a year-on-year increase of 1.46 times.
Türkiye
Export volume increased by 8.4% year-on-year in July
Türkiye's trade minister Borat announced on Thursday that Türkiye's exports in July increased 8.4% year on year, reaching a record $20.093 billion. Despite the impact of shrinking global production and trade and earthquake disasters, Türkiye's exports in the first seven months of 2023 will still reach 143.435 billion US dollars, close to the level of the previous year. He specifically mentioned that the proportion of high-tech product exports in the manufacturing industry has increased from 36.9% in 2022 to 40.8% in the first seven months of this year. In July, Türkiye's imports increased 11.1% year on year to US $32.47 billion, and the total imports in the first seven months of this year were US $217.5 billion, up 5.1% year on year.
Uzbekistan
Exports increased by 19.4% year-on-year in the first half of the year
According to the Statistics Office directly under the President of Uzbekistan, in the first half of 2023, the total foreign trade volume of Uzbekistan was about 29.2 billion US dollars, a year-on-year increase of 19.4%. Among them, exports were about 12.14 billion US dollars, a year-on-year increase of 23.0%, imports were about 17.03 billion US dollars, a year-on-year increase of 17.0%, and the trade deficit was about 4.89 billion US dollars. China continues to maintain its position as the largest trading partner of Ukraine, and is also the largest source of imports and the second largest export destination country of Ukraine (second only to Russia).
Georgia
Exports increased by 20.1% year-on-year in the first half of the year
According to data from the Georgian National Bureau of Statistics, from January to June 2023, the volume of extraordinary trade reached 10.26 billion US dollars, a year-on-year increase of 20.1%. Among them, the export value of Georgia reached 3.05 billion US dollars, a year-on-year increase of 19.2%; The import volume reached 7.21 billion US dollars, a year-on-year increase of 20.4%.