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INTERNATIONAL TRADE SCENARIO OF VIETNAM AND TURKEY

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ABSTRACT Vietnam is a very vibrant country with almost all the facilities and infrastructure that are required to lead a happy and stress-free life. In the past few years, the pace at which Vietnam is growing and heading towards a developed economy is commendable. The nation is growing in all areas and domains, starting from primary areas like agriculture to the most complex domains like machine manufacturing, automobiles, and precious stones, every sector is experiencing positive growth. The GDP of the country is also increasing at an annual rate of 2.6%. Unlike Vietnam, the economic picture of Turkey is not that great at present as a massive earthquake hit the country and left everything to pieces. Until the first week of February 2023, Turkey was also growing at a good speed. The bilateral trade relations of Turkey were just next to amazing and profitable. Until 2021, the annual GDP growth of Turkey was 11.4%. In this blog, we are going to see the current scenario of both co
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HOW IS THE GLOBAL ECONOMY AFFECTED DUE TO RUSSIA-UKRAINE WAR GOING ON FOR 1+ YEARS NOW?

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ABSTRACT The Russia-Ukraine war, also known as the Russo-Ukrainian war is a name given to the ongoing tussle between Russia and Ukraine which is going on for more than a year now. The conflict is going on since 2014 between both nations but in the month of February 2022, Russia lost its temper and launched a 360-degree invasion of Ukraine. This war is not just between two countries, but the whole world is suffering due to this ongoing event. The Global economy is hit hard due to this war as it has largely affected the global trade and Import Export Data of numerous nations that were dependent on these countries for importing and exporting certain goods and services. TRADE RELATIONS BETWEEN RUSSIA AND UKRAINE BEFORE WAR YEAR RUSSIA > UKRAINE UKRAINE > RUSSIA REMARKS 2017 USD 7.94 billion USD 4.91 billion R(E) > R(I) 2018 USD 9.52 billion USD 5.46
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WHY ARE THE USA AND VIETNAM BECOMING STRONG TRADE PARTNERS IN RECENT TIMES?

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Very recently, in the year 2022, the USA and Vietnam celebrated their completion of 27 years for being in diplomatic relations and being such a great duo in the international market. This celebration was a move to reduce the heat between the two nations and take bilateral trade relations to a new level which went significantly down since the Vietnam War which took place years back. In the past few years due to the advent of Covid-19, many nations are moving toward the most economical alternatives to produce finished goods. So, for that reason, the US is also preferring Vietnam over other nations to convert its raw materials into finished goods. In today’s blog, we will understand the growing ties between both countries, followed by the rising bilateral trade, and Import Export Data between both nations and finally our verdict on the complete scenario. BRIEF HISTORY OF THE COMMENCEMENT OF BILATERAL TRADE BETWEEN THE US AND VIETNAM  After Vietnam War, which happened in the yea
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TURKEY AND GERMANY ARE BECOMING THE BEST TRADE PARTNERS IN THE LAST FEW YEARS

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BRIEF SUMMARY – ECONOMIC RELATIONS & BILATERAL TRADE The trade relations between the countries are strong since the very beginning. The economic ties and bonds between the nations are very strong and they are strengthening even more as the years are passing. Germany’s major exports to Turkey as mentioned in Turkey Import Data are machinery, electrical goods, and motor vehicles. On the other hand, according to Turkey Export Data the nation exports goods like textiles, food items, and motor vehicles. Moreover, businessmen from Turkey who are close to 2 lakhs, are employed in Germany-based companies. You would be surprised to know that close to 4000 German companies are functional in Turkey. Both nations are considered to be the best partners in terms of foreign trade and technical and financial cooperation. In the year 2020, the bilateral trade between the two nations was USD 38 billion. The biggest investment made by German companies was 25 billion euros in the energy sector
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LARGEST ELECTRONICS EXPORTING COUNTRIES IN THE WORLD IN THE YEAR 2022-23

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ELECTRONIC PRODUCTS GLOBAL MARKET SIZE The global market of electronics is one the biggest and most successful markets in the world which is experiencing rapid growth and popularity in the current scenario. In the year 2019, the global market of this industry was close to USD 730 billion. The market value of the electronic industry is projected to touch the USD 990 billion mark by 2027 which is almost 5.3% CAGR in 2020-2027. Although, there was a sudden decline in the market size of electronics during the covid era, but now as the things are normalizing, a measurable boost is being observed in the global market of consumer electronic gadgets. Electronic devices are the most highly demanded products by every consumer in every country. various developments and innovations are also happening in this industry due to which people are getting more fascinated towards these products. From small electronic chips to large TV and ACs, everything is in high demand. It is sure that due to the
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