INSIGHTS Trade tensions and likely US tariff hikes may hit global trade, exacerbating the growth challenges faced by European and Middle East seaports, Fitch Ratings said. A slow recovery in demand for consumer goods is likely to continue in Europe in 2025, supporting the seaport sector, it noted. The Middle East and eastern Mediterranean face port overcapacity risks as construction outpaces demand growth. Growing trade tensions and likely tariff increases by the incoming US administration ma

INSIGHTS Vietnam's textile exports are set to reach $44 billion in 2024. VIATT 2025, from Feb 26–28 at SECC, will feature 15,000 sqm of exhibitions, emphasising sustainability and innovation. Key pavilions include exhibitors from Europe and Asia, showcasing fabrics, textiles, and advanced tech. Organised by Messe Frankfurt and VIETRADE, VIATT is vital for ASEAN textile sourcing. Despite global challenges, Vietnam's textile industry is poised for robust growth. This year, the country&rsq

INSIGHTS Real US GDP increased at an annual rate of 3.1 per cent in Q3 2024, according to the third official estimate. In Q2 2024, real GDP increased by 3 per cent. The increase in real GDP primarily reflected increases in consumer spending, exports, non-residential fixed investment and federal government spending. Imports increased as well. Real gross domestic income rose by 2.1 per cent in the quarter. Real US gross domestic product (GDP) increased at an annual rate of 3.1 per cent in the t

INSIGHTS ICE cotton prices continued their downward trend for the fourth consecutive session, influenced by declining soybean futures and a stronger dollar. The March 2025 contract settled at 68.08 cents per pound, slightly above its low. The broader cotton market reflected losses across various contracts, with overall weak demand exacerbated by a rising dollar and lower soybean prices. ICE cotton continued its declining trend for the fourth consecutive trading session yesterday. A bearish to

INSIGHTS Chinese company Kelida invests $30 million in a textiles project with Suez Canal Economic Zone (SCZONE). It will export 90 per cent of its textiles. SCZONE signed agreements for textile and food projects in Qantara West Zone, spanning 137,000 square metre and creating 1,450 jobs. SCZONE's first phase now totals $309 million investments, 751,000 square metre, and 14,200 jobs. Kelida, a Chinese manufacturer of fabrics and home textiles, has agreed on a project with Suez Canal Economic

INSIGHTS ICE cotton prices have seen a downward trend due to lower crude oil prices and increased production forecasts, although a weakening dollar has somewhat cushioned the decline. With the US cotton export sales report pending, market sentiments remain hopeful, bolstered by strong upland cotton sales. Meanwhile, ICAC has revised its global cotton production and inventory forecasts upward for 2024-25. ICE cotton continued to trend lower due to cheaper crude oil and higher production and in

INSIGHTS China's exports rose 6.7 per cent YoY to 23.04 trillion yuan (~$3.2 trillion) and imports grew 2.4 per cent to 16.75 trillion yuan (~$2.3 trillion) during January-November 2024. The total trade increased 4.9 per cent to 39.79 trillion yuan (~$5.6 trillion). In October, trade expanded 4.6 per cent YoY. From January-October, trade rose 5.2 per cent to 36.02 trillion yuan (~$5 trillion). China’s exports increased 6.7 per cent year on year (YoY) during the first 11 months (January-

INSIGHTS ICE cotton prices weakened amid slow US export sales, which fell 47 per cent week-on-week, and a 33 per cent decline from the four-week average, as per USDA data. A weaker dollar and higher crude oil prices offered support, with the latter boosting sentiment due to increased polyester costs. Broader agricultural market gains helped offset losses. ICE cotton weakened further due to pressure from slow export sales from the US. Export sales remained slower compared to the past two weeks

INSIGHTS The Drewry World Container Index (WCI) rose 6 per cent to $3,533 per FEU as of December 5, 2024, following news of an upcoming ILA port strike in January 2025. While rates between some routes have increased, those from Shanghai to Los Angeles and Rotterdam to Shanghai saw declines. Drewry anticipates further hikes in the Transpacific sector due to the expected strike. The Drewry World Container Index (WCI) composite index has jumped 6 per cent to $3,533 per 40-foot equivalent unit (F

INSIGHTS The global economy is projected to remain resilient despite significant challenges, according to the OECD's latest Economic Outlook, which projects global GDP growth of 3.3 per cent in both 2025 and 2026—up from 3.2 per cent in 2024. Inflation in the OECD countries is expected to ease further, from 5.4 per cent in 2024 to 3.8 per cent in 2025 and 3 per cent in 2026. The global economy is projected to remain resilient despite significant challenges, according to the Organisation