In the first half of 2024,the trade data of many countries around the world showed impressive results.China,South Korea,Vietnam,Malaysia,India,Thailand,Cambodia,Pakistan,the United States,Brazil,Slovenia,and Mexico,among others,saw significant increases in their exports of goods.The following is a detailed analysis of these countries trade performance in the first half of the year.

China: Goods trade exports increased by 6.9% year-on-year

In the first half of 2024,China’s total import and export of goods reached 21.17 trillion yuan,with a year-on-year increase of 6.1%.Among them,the export volume was 12.13 trillion yuan,an increase of 6.9%; the import volume was 9.04 trillion yuan,an increase of 5.2%; and the trade surplus reached 3.09 trillion yuan,an increase of 12%.This growth was mainly due to China’s strong manufacturing base and the recovery of global demand.

South Korea: Exports grew for the ninth consecutive month in June

Data from South Koreas Ministry of Trade,Industry and Energy showed that the countrys exports in June grew by 5.1% year-on-year to $57 billion,marking the ninth consecutive month of growth.Imports in June fell by 7.5% year-on-year to $49 billion,resulting in an $8 billion trade surplus.This marks the 13th consecutive month of trade surplus for South Korea,demonstrating its strong export capabilities and competitiveness.

Vietnam: Exports increased by 14.5% year-on-year in the first half of the year

Vietnams exports in the first half of the year increased by 14.5% year-on-year,while imports rose by 17%,resulting in a trade surplus of $11.63 billion.Vietnams rapid export growth is primarily attributed to its robust manufacturing base and expanding international market demand.The widening trade surplus ensures balanced international payments,reflecting the stability and sustainability of its economy.

Malaysia: Exports rose by 7.3% year-on-year in May

In May 2024,Malaysia exported 128.2 billion ringgit,with a year-on-year increase of 7.3%.Its export markets were mainly concentrated in Singapore,the United States,and China,with the main export products being electronic appliances,petroleum products,and chemicals and chemical products.Imports totaled 118.1 billion ringgit,with a year-on-year increase of 13.8%,and the main import sources included China,Singapore,and the United States.The total import and export volume reached 246.3 billion ringgit,with a year-on-year increase of 10.3%,hitting a new high in nearly 20 months.

India: Goods exports grew by 9.1% year-on-year in May

According to data from the Indian Ministry of Commerce and Industry,in May 2024,India’s total merchandise exports amounted to $38.132 billion,an increase of 9.1% year-on-year.The merchandise trade deficit reached $23.782 billion,expanding by 5.6% compared to the previous year.In terms of service trade,exports amounted to $30.16 billion,an increase of 11.7% year-on-year.India’s export growth demonstrates the vitality of its economy and the recovery of demand in international markets.

Thailand: Exports reached their highest level in 14 months in May

According to data from the Thai Department of International Trade and Industry,in May 2024,Thailand’s exports reached $26.21 billion,an increase of 7.2% year-on-year,marking the highest export level for 14 consecutive months.Meanwhile,imports totaled 947.07 billion Thai baht,a month-on-month decrease of 1.7%.Thailand’s trade data reflect its competitiveness in the international market and the diversity of its export products.

Cambodia: Exports increased by 12.6% year-on-year in the first half of the year

Data from Cambodias General Department of Customs and Excise showed that in the first half of the year,Cambodias exports reached $12.296 billion,up 12.6% year-on-year,while imports totaled $13.796 billion,up 12.8% year-on-year.Total international trade volume reached $26 billion,up 12.7% year-on-year.Cambodias trade growth highlights its important role in the regional economy.

Pakistan: Goods exports surged by 27.08% year-on-year in May

According to data from the Pakistan Trade Development Board,in May 2024,Pakistan’s goods exports amounted to $2.792 billion,an increase of 27.08% year-on-year.Exports in the textile and leather industries,as well as in the agricultural and food sectors,all saw significant growth.Pakistan’s export growth demonstrates its competitiveness in these fields and the demand for its products in the international market.

United States: Goods exports rose by 3.7% year-on-year in May

According to data from the U.S.Census Bureau of the U.S.Department of Commerce,in May 2024,the total volume of U.S.goods trade reached $455.988 billion,an increase of 4.1% year-on-year.Among them,the total value of goods exports was $173.124 billion,an increase of 3.7% year-on-year; the total value of goods imports was $282.864 billion,an increase of 4.3% year-on-year.The U.S.trade data reflect its important position in the global market.

Brazil: Exports hit a record high in the first half of the year

Data from GuruFocus reveals that Brazils exports in the first half of this year hit a record high of $167.4 billion,with a trade surplus of $42.3 billion.In June alone,Brazil exported $29.044 billion worth of goods while importing $22.333 billion.Brazils export growth primarily stems from its abundant natural resources and robust agricultural exports.

Slovenia: Exports to non-EU countries grew by 10.7% year-on-year in May

According to data from the Slovenian Statistical Office,in May 2024,Slovenia’s exports to non-EU countries amounted to 2.45 billion euros,an increase of 10.7% year-on-year.This demonstrates Slovenia’s competitiveness in non-EU markets and the international demand for its products.

Mexico: Exports increased by 5.4% in May,reaching a record high

According to Mexico’s national statistics,in May 2024,Mexico’s product exports increased by 5.4% year-on-year to $55.67 billion,hitting a record high.Imports totaled $53.67 billion,an increase of 1.4% year-on-year.Mexico achieved a trade surplus of $1.99 billion.In the first five months of this year,exports increased by 4.4% and imports increased by 3.4%.

Conclusion

In the first half of 2024,trade data from various countries revealed a gradual recovery of the global economy and an upturn in international market demand.China,South Korea,Vietnam,Malaysia,India,Thailand,Cambodia,Pakistan,the United States,Brazil,Slovenia,and Mexico all achieved significant growth in both imports and exports.This trend not only reflects the recovery and development of national economies,but also demonstrates the vitality and diversity of global trade.