TradeImeX

SHARE OF PACKAGED MEDICAMENTS IN THE WORLD TRADE Packed medicaments are a crucial part of pharmaceutical products. This division of medical products majorly includes antibiotics, insulin, alkaloids, vitamins, and various kinds of dosages. Based on the latest reports of the world trade of packaged medicaments, it is observed that in the year 2020, these products were among the top 7 items that were traded the most in the world. The total trade value of packaged medicaments was close to USD 410 billion in the year 2020 which accounted for almost 2.5% contribution to total global trade. Total exports of these items also grew by 8.7% between 2019-2020. The top exporters of packaged medicaments as per Global Trade Data of the year 2020 were Germany, Switzerland, Ireland, France, and Italy. On the other hand, the top importers of these products were the United States, Germany, Switzerland, China, and Italy. EXPORTS OF PACKAGED MEDICAMENTS FROM TURKEY TO VIETNAM ARE THE LARGEST AMONG

BASIC OUTLINE OF THE US TRADE 2021 The United States is considered the most powerful nation across the globe due to its unbeatable defense systems, technological advancements, and political stability. The US is also the biggest nation in terms of total trade crossing a mark of USD 4.5 trillion in the year 2021. The contribution of the United States to the total trade of the world in any year is very significant and is considered the cornerstone of the complete global world or economy. As of now, the US has trade relations with almost 200 countries, accompanied by numerous territories, and regional associations. As of now, the complete figures and US Trade Data for the year 2022 have not been out but based on our research and analysis of US Export Data and US Import Data for the same year, we are here with some statistical figures. TOP 05 EXPORTS FROM THE US TO THE REST OF THE WORLD According to our reports and analysis, the United States was the second largest exporter of

BRIEF OVERVIEW OF THE GARMENT INDUSTRY IN THE WORLD The garment industry, commonly known as the clothing or textile market is one of the major industries in the world as every country deals in this market and trades the most in this industry only. The textile market is considered the major contributor to any country’s economy. On the basis of Global Trade Data for the year 2021, the global market size of the textile industry was USD 993.65 Billion. The growth of this industry is forecasted to happen at a steady rate of 4% till the year 2030. In the garment industry, fast fashion is a term that is gaining popularity nowadays as it has become the major source of income for the nations. Under this technique, rather than producing their own stock, retailers purchase costumes and dresses from wholesalers and manufacturers as and when they feel the demand is rising. This helps in making the product a lot more cheaper and affordable. Some prominent fashion companies who are into fast s

BRIEF HISTORY OF THE GARMENT INDUSTRY The population of Vietnam is mostly of a friendly and fun-loving nature. They are hardworking and punctual in the activities they are associated with. Coming to the textile and garment market of the nation, we get to know that Vietnam had a deep and strong connection with the clothing industry for many years. Until 1958, Vietnam was doing pretty well in the traditional style of clothes but after 1958, the nation entered into the modern clothing industry after the French built various factories and warehouses in Vietnam. Due to a great tussle between Vietnam and France, the textile industry came to a halt which restarted in the year 1975 at its full pace. In the year 2007, Vietnam made its entry into the WTO and since then the country’s textile and clothing industry is on the boom and growing at a rapid pace. As mentioned in the Vietnam Export Data as well, garments became one of the favorite items for Vietnam to export to the world. In rec

The trade deficit is a phenomenon wherein the country gets stuck into debt and is overburdened by excess imports and a shortage of funds. In simple terms, when any country imports more in value terms as compared to exports, then a situation arises which is called a trade deficit or trade imbalance. A negative trade balance impacts the reputation of the nation in a bad way. Investors and traders don’t prefer to invest in a nation whose track record of various past years shows a negative trade balance. Every nation goes through this phase at some other time duration. The United States is also going through this phase for the past few years and in 2022, the trade deficit amount has hit a new record of USD 1 trillion. CAUSES BEHIND THE RISE IN IMPORTS TO THE UNITED STATES Before going to the causes, first, let’s understand the trend of the US Trade Deficit. So as per the US Trade Data for 2021-22, the trade deficit of the US went up by almost 12.5% from 2021 to 2022 making the tot

GOLD MARKET OF TURKEY – OVERVIEW At the beginning of the era, the gold market of Turkey was not liberalized and only the official authorities, like the Central bank of the nation were allowed to import gold into the country. due to the liberalization of the Turkish market in 1993, entities other than the central bank were also allowed to perform the gold trade. The process of liberalization started in 1989 and ended in 1993. Since then, various amendments and advancements are made to the gold trade of the nation. A three-way merger between the Istanbul Gold Exchange, Istanbul Stock Exchange, and Turkish Futures and options exchange took place in April 2013. Today, Turkey is in the 4 th position in terms of gold consumption as per Turkey Trade Data and contributes to the global consumer demand for gold by 6%. As per some other crucial reports of the World Gold Council, the households of Turkey hold approximately 3,500 tons of gold. Major gold-producing refineries of Turkey are

The Philippines is one of the island countries in the world that is situated in Southeast Asia in the western part of the Pacific ocean. The country consists of 7000 islands and an island named ‘Luzon’ is considered the country’s biggest island. A major part of the country’s economy is fulfilled through the agricultural sector. This sector alone contributes almost 1/7 th of the total country’s GDP. Rice is considered the major crop and is grown in several parts of the country. Based on the Philippines Export Data of the past various years, it gets very clear that the Philippines is one of the largest exporters of coconuts in the world. PHILIPPINES MARKET ANALYSIS In the year 2021, the economy of the Philippines went up by 5.7% which was more than projected by the government, i.e., 5.3%. The country’s Gross National Income was close to USD 3500 in 2021, which was lower than the upper-middle-income group limit of the world bank (USD 4,096-USD 12,700). The GDP of the nation al