INSIGHTSChina and Ecuador have signed an FTA to enhance bilateral trade.While Chinese apparel exports to Ecuador in 2022 remained stagnant at $66.969 million, there was an increase in exports of home textiles to $39.583 million.The trade data indicates a decline in apparel exports from China to Ecuador in previous years, followed by recovery in 2021 and 2022.China and Ecuador have signed a Free Trade Agreement (FTA) aimed at boosting bilateral trade. Chinese apparel exports to Ecuador in 2022 we

INSIGHTSChinese wool processors are expanding their facilities to meet the rising demand for wool among Chinese consumers who increasingly prefer local brands.The China Wool Textile Association has noted this trend, which marks a significant shift from the past decade.AWI CEO said that China is currently buying 82 per cent of Australia's wool clip.All major processors in China have reported an expansion of their wool processing facilities, as per Australia Wool Innovation (AWI). This optimis

INSIGHTSChina has released new guidelines aimed at improving the structure and scale of foreign trade.The guidelines call for the promotion of domestic offline expos to facilitate supply and purchase matchmaking, cross-border business personnel exchanges, and enhanced market development services.Fiscal support and digitalisation of trade are also highlighted.China has issued new guidelines to improve the scale and structure of foreign trade. To promote trade development, governments at all level

INSIGHTSChina's foreign trade increased by 4.8 per cent YoY to 9.89 trillion yuan in Q1 2023.Exports rose by 8.4 per cent, and imports increased by 0.2 per cent.ASEAN was China's largest trading partner, with trade up 16.1 per cent YoY, while trade with the European Union, US, Japan, and South Korea accounted for 35.6 per cent of its foreign trade.China's foreign trade surged 4.8 per cent year-on-year (YoY) to 9.89 trillion yuan (around $1.44 trillion) in the first quarter (Q1) of 20

INSIGHTSThe EU would like to restart the High-Level Economic and Trade Dialogue and advance steady and balanced growth of economic and trade ties with China for mutual benefit, European Commission President Ursula von der Leyen told President Xi Jinping recently.China expects the EU to develop a more independent and objective perception of China, Xi said.The European Union (EU) would like to restart the High-Level Economic and Trade Dialogue and advance steady and balanced growth of economic and

INSIGHTSThe world economy is expected to grow by less than 3 per cent in 2023, and India and China are likely to account for half of the global economic growth, while others face a steeper climb, IMF managing director Kristalina Georgieva has said.Poverty and hunger could further rise and 90 per cent of advanced economies may witness a growth rate dip, she said.The world economy is expected to grow by less than 3 per cent this year, and India and China are expected to account for half of the glo

INSIGHTSAsia is likely to accelerate its pace of economic growth, continue to advance regional production, trade, investment and financial integration and cohesion, and seize 'Asian moment' for global economic governance this year, said the Boao Forum for Asia.It estimates Asia's 2023 weighted real GDP growth rate to be 4.5 per cent, up from 2022's 4.2 per cent.In the context of a global economic slowdown and the risk of increasing fragmentation of globalisation this year, Asia i

INSIGHTSCotton yarn prices decreased by ₹2-5 per kg today in north India due to low demand from downstream industries, but traders expect better demand next month.Panipat noted a steady trend in prices, while 18 count recycled PC yarn prices were feeling the pressure due to low demand from Uttar Pradesh.Cotton prices remained steady, with limited cotton arrival.North India's cotton yarn prices have eased by ₹2-5 per kg today due to lower demand from downstream industries. Cotton yarn prices

Chinese President Xi Jinping's recent visit to Russia highlighted the significance of economic relations between the two major economies, including trade. Jinping expressed China's readiness to expand cooperation with Russia in trade and other economic activities. However, export date indicates a downtrend in trade during the previous years, even as China remained a major apparel supplier for Russia.China's apparel exports to Russia amounted to $2.835 billion last year. The outbound

China exported textiles, apparel, and clothing accessories worth $40.845 billion in the first two months of 2023, registering a decline of 18.50 per cent compared to the corresponding period of the previous year. The latest monthly data released by the General Administration of Customs of China shows that the country's garment exports decreased by 14.7 per cent in the same period.Garment and clothing accessories exports stood at $21.677 billion in January-February 2023, which was 14.7 per ce