Global Demand

China's trade contracted again in January and February as US and European demand weakened in the face of interest rate hikes, adding to pressure on official efforts to revive economic growth following the end of anti-virus controls. Exports sank 6.8 per cent from a year earlier to USD 506.3 billion, an improvement over December's 10.1 per cent decline, customs data showed Tuesday. Imports fell 10.2 per cent to USD 389.4 billion, deepening December's 7.3 per cent contraction. China's global trade surplus for the two months edged up 0.8 per cent over a year earlier to USD 116.9 billion. Forecasters expected trade to weaken as the likelihood of a recession in Western economies increased following rate hikes by the Federal Reserve and European Central Bank to cool economic activity and record-setting inflation. We don't expect exports to rebound, Iris Pang of ING said in a report. That adds to complications for President Xi Jinping's government, which is trying to revive economic grow

The Indian economy and exports will be moderately impacted in 2023 by weak global demand and recession in large economies and to improve its current account, the country should aim at reducing energy import bill, economic think tank GTRI said on Tuesday. The Global Trade Research Initiative (GTRI) said that in 2022, India will pay USD 270 billion in imports of crude oil and coal, which is about 40 per cent of total merchandise import bill. India must re-energize exploration of local oil fields and enhance production through coal mines. Any development will cut the energy import bill substantially and improve the current account, it added. It also said the US effort to create alternate supply chains excluding China is gradually leading to restructuring of global supply chains and relocation of few large manufacturing firms shows that India is in a good position to benefit from this trend. India should do so without compromising its strategic autonomy, it said adding that in various

Imports at 10-month low of $55.88 billion, trade deficit lowest in 7 months

Brent crude for November delivery fell $1.49, or 1.6%, to $89.86 a barrel by 1002 GMT. U.S. West Texas Intermediate (WTI) for October dropped $1.57, or 1.8%, to $83.54.

Oil prices dropped again on Tuesday as investors absorbed a bleak outlook for fuel demand with data pointing to a global manufacturing downturn

Opening up in the US may switch spending to services and wardrobe restocking, and de-stock overflowing pantries

Asia Pacific's economic recovery from Covid-19 will be boosted by US stimulus and stronger global demand, S & P Global Ratings said on Thursday.Vaccine rollout in the region may lag other parts of the world but there will be enough progress to lift consumer spending and domestic demand later in 2021, it said in a report titled 'Economic Outlook Asia Pacific Q2 2021: Three-Speed Recovery Will Benefit From Faster Global Growth."S & P Global Ratings revised upward its growth forecast for Asia Pacific to 7.3 per cent for 2021 from 6.8 per cent previously.A faster-than-expected global vaccine rollout, a large dose of US stimulus and upside surprises in trade and manufacturing pushed its forecasts higher and offset recent weakness in household spending."We also expect gradual vaccine coverage in the region to encourage a virtuous cycle of higher spending on services, more jobs and rising incomes to power the next leg of recovery," said Shaun Roache, Asia Pacific chief economist at S

Experts say refiners in Asia may continue to see stressed crack spread

The export boom has been one of the strong drivers for China's rebound, with goods shipments hitting a record $268 billion in November.

Economists had forecast that exports would shrink by 11% while imports would contract by 10%.

As manufacturing in China recovers, so will the demand for raw materials

Developing more sources of supplies to guard against disruptions may emerge as the next big trend. But with what's happening in Delhi, India stands to lose out on a chance

The world's biggest economies are recovering at the same time, giving a boost to trade