South Koreas export growth slowed down in 2023, raising concerns about the recovery of global trade. Analyze semiconductor and auto export data and the economic recovery of major trading partners to explore the prospects of global trade.
In 2023, the export volume and value of South Korean kimchi reached new highs, especially showing strong performance in the Japanese and American markets, indicating an enhanced global influence of South Korean food culture.
Examining how the Red Sea crisis has caused shipping rates to surge, impacting Chinas foreign trade exports, European/American markets, cross-border e-commerce, and countermeasures for foreign trade enterprises.
Facing the slowdown in global demand for electric vehicles, Tesla has adopted a price - reduction strategy in the European market. The prices of Model Y in countries such as Germany, France, and the Netherlands have been significantly reduced.
As tensions escalate in the Red Sea, insurers are refusing to provide war risk coverage for U.S. and U.K. merchant ships. Shipping companies are rerouting, disrupting global supply chains and raising inflation concerns.
In 2023, Chinas shipbuilding industry completed 42.32 million deadweight tons, accounting for 50.2% of the global market. The new order volume was 71.2 million deadweight tons, setting a global share of 66.6%, exceeding the sum of Japan and South Korea.
In 2023, Germanys GDP contracted by 0.3%, raising concerns about an economic slowdown in Europe. High inflation, energy crises, and declining exports were the main reasons, affecting economic recovery across Europe.
Chiles export trade achieved significant growth in 2023, with non-traditional goods and services exports reaching record highs. Deepening trade cooperation with China has promoted diversification and innovation.
China approves the export of spherical graphite materials and graphite anode materials to South Korean battery industry manufacturers, strengthening China-South Korea battery industry cooperation and promoting technological development and global competitiveness.
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PSB Record: Shanghai No.31011502009912
