Kenya imported goods and services worth $3.481 billion from China in 2023, making it the country’s largest trading partner. This figure is lower than the 2021 peak of $4.22 billion, according to the ‘Overview of Kenya’s Trade Landscape, 2023’ report commissioned by the UK government. The report lists the UAE, India, Saudi Arabia, Malaysia, the United States, Japan, Russia, South Africa, and Egypt among Kenya’s top import sources. Petroleum products accounted for 23% of imports in 2023, followed by industrial machinery (7%), iron and steel (6%), and edible oil (5%). Kenya-China Trade Overview Total trade between Kenya and China in…

The FAO’s biannual report projects the global food import bill will exceed $2 trillion in 2024, driven largely by rising costs of cocoa, coffee, and tea. These commodities account for over half of the 23% increase in food import expenditures, with significant disparities across income levels. Commodity Price Increases Cocoa prices have reached nearly four times their ten-year average, coffee prices have almost doubled, and tea prices are 15% above long-term levels. High-income countries, comprising two-thirds of the global food import bill, are expected to see a 4.4% increase in costs. Meanwhile, middle- and low-income countries may benefit from reduced…

Dr. Ngozi Okonjo-Iweala, Director General of the World Trade Organization (WTO), has called on G20 nations to halt the imposition of new trade restrictions, warning that such measures could exacerbate global economic uncertainty. Her statement follows findings from the 31st WTO Trade Monitoring Report, revealing a significant increase in the scope of trade-restrictive measures implemented by G20 economies over the past year. The report, released on Wednesday, highlighted that while G20 economies introduced both trade-facilitating and trade-restrictive policies, a growing tendency toward inward-looking and unilateral decisions is raising concerns. Dr. Okonjo-Iweala stressed that these actions create uncertainty, contribute to shortages,…

As Q4 2024 progresses, Sodium Benzoate Excipient—a vital chemical used across pharmaceuticals, food additives, and animal feed—faces global price increases, primarily driven by rising demand across sectors and widespread inventory replenishment. This compound’s central role in essential formulations has contributed to these heightened market dynamics. In Germany, Sodium Benzoate Exp. prices have risen as manufacturers adjust rates amid ongoing supply chain challenges. Although Germany’s manufacturing sector remains in contraction, it showed signs of recovery in October, with the PMI rising to 43 from 40.6 in September. This slight improvement has influenced Sodium Benzoate procurement, encouraging cautious inventory rebuilding within downstream…

A recent United Nations report has exposed Yemen’s Houthi rebel group for allegedly importing oil and gas through falsified documents, bypassing international sanctions and generating substantial revenue. According to findings from a UN Security Council panel, the Houthis may have earned nearly $4 billion over two years through these activities, with fuel shipments arriving at key Red Sea ports under Houthi control. The report, following an in-depth investigation into Houthi financial practices, highlights evidence that Houthi-controlled companies have imported oil and liquefied petroleum gas (LPG) under false country-of-origin certificates. Between April 2022 and June 2024, customs duties collected at these…

Saif Ur Rehman, Coordinator to Pakistan’s Federal Tax Ombudsman (FTO), announced that Malaysian buyers have expressed strong interest in importing high-quality Pakistani food products that meet international standards. Rehman is currently leading the Pak Food delegation on a two-week visit to Malaysia to explore export markets and potential joint ventures. Rehman noted that Malaysia’s increasing demand for Pakistani food products reflects a shared appreciation for quality items and signifies an opportunity to strengthen trade ties between the two nations. Pakistan offers a range of goods—including rice, fresh fruits, spices, and processed foods—well-suited to Malaysian tastes. He emphasized that Pakistan’s focus…

The Agricultural Business Chamber of South Africa (Agbiz) has raised concerns over the potential impact of Donald Trump’s proposed trade policies, should he return as U.S President. Agbiz cautioned that Trump’s suggested tariffs, particularly a 20% levy on all imports and up to 60% on Chinese goods, could disrupt global agricultural trade if China retaliates. Wandile Sihlobo, Agbiz’s chief economist, highlighted that a revival of tariffs could mirror the adverse effects seen in 2018, when retaliatory measures strained U.S. agriculture. “If China retaliates as it did the last time, the US soybean and maize farmers and pork producers would again…

India’s fuel export, particularly diesel, to the European Union (EU) have soared by 58% in the first nine months of 2024, largely due to discounted Russian crude oil supplies. This increase underscores India’s growing role in the global oil market as it capitalizes on discounted Russian oil, a resource Western nations sanctioned in December 2022 to curb funding for Russia’s conflict in Ukraine. The EU, alongside G7 countries, had enforced an embargo and a price cap on Russian crude, aiming to weaken Russia’s revenue. However, a significant loophole allowed non-sanctioning countries like India to continue purchasing Russian crude, refining it,…

The Alabama Department of Commerce’s Global Business team is spearheading a mission to Germany for MEDICA 2024, the world’s premier medical industry event, with a delegation of Alabama-based small and mid-sized businesses. MEDICA, which began today and runs through Wednesday, attracts exhibitors and visitors from over 60 countries, offering Alabama companies a valuable platform to explore new markets, forge international partnerships, and demonstrate their innovative products and services. The Alabama delegation is hosting a ‘Made in Alabama’ booth at the Düsseldorf event, highlighting the state’s growing capabilities in bioscience and medical technology. Christina Stimpson, Chief Officer of Global Business for…

Following Donald Trump’s re-election and his promise to impose steep tariffs on Chinese goods, U.S. importers are expected to accelerate imports from China to avoid price hikes before the January inauguration. This anticipated rush could temporarily boost Chinese exports, though analysts expect limited economic impact on China’s GDP in the short term. Capital Economics estimates that substantial U.S. tariffs would have a minor effect on China’s GDP, as exporters may bypass tariffs through alternative trade routes and benefit from potential yuan depreciation. A tariff increase from 15% to 60% could reduce China’s GDP by 1.1%, with currency adjustments potentially lowering…