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Global Trade Data

Uncertainty Lingering Over Global Oil Prices Due To Israel-Hamas War

The oil prices were affected due to the unprecedented war that started out between Israel and Hamas on 7 October 2023. The conflict between these nations shook the global oil market due to the significance of the Middle East in the contribution of global oil supplies. The oil prices on Tuesday (24 October) slumped even further following the minor recovery in the previous week. Trade experts suggested that this could potentially disturb the confluence of oil supplies between the countries, especially ones which rely on the Middle East.
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India Trade

India and the UAE Strengthening Ties In Concern To the Economic Corridor

Following the establishment of the India-Middle East-Europe Economic Corridor, India, and the UAE are growing towards the strengthening of their economic ties and paving the way for a better exchange of goods and services. India and the UAE work together to identify the commodities where trade between the countries can be diversified. The move allows trade between both countries to be efficient and widen the scope of this mutual economic support and cooperation.
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USA Trade

US Electric Motor Market Trade Trends, Exports To Canada Rise In 2023

The electric motor industry is growing in demand and therefore, as a result, the values are increasing due to the application of motors which are becoming more significant in countries such as the US and Canada. The US is among the trading countries for electric motors, which not only comes in the top three for the imports of electric motors (Heading 8501) but also the exports. The exports of electric motors from the US to its top trading partners have risen considerably despite higher imports.
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India Trade

Israel-Hamas Conflict – Impact on India-Israel Trade Explained

The conflict between Israel and Hamas militants is likely to affect India’s trade if the war escalates. This development is concerning not only for the global economy but also for India, given its dependency on crude oil and its strong trade ties with Israel. India’s trade with Israel totalled USD 10,378 million in 2022 and USD 4,529 million during Jan-Jun 2023. India’s close relationship with Israel adds a twist to the tale. Israel is a significant trade partner for India, ranking as the third-largest in Asia and tenth globally.
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Global Trade Data

G20 Highlight: EU, US Join Forces To Promote the Trans-African Corridor

G20 Summit 2023, held by the Indian presidency, put a spotlight on the Trans-African Corridor. The initiative highlights the partnership between the US as a country, and the European Union as a group of nations to come together and build an alliance with Africa as a continent. In the partnership for the Trans-African Corridor, the US and the EU will support Africa in the development of the three countries—Angola, Zambia, and DR Congo. The corridor will connect these major regions of Africa with potential values to the global trade markets via Angola’s Port.
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