Global semiconductor sales dropped about 8% in 2023 but are expected to recover in 2024. As integrated circuits are found in most key products, this underlines the likelihood of a recovery of world trade in 2024. However, trade flows are likely to change over the coming years as China, the US and Europe build up own capacity and support the development of new fabs in South and Southeast Asia. Machinery trade indicates an emerging shift away from Taiwan and Korea based production of integrated chip production.
Posts tagged as “Japan”
China has a market share of about 20% of the world electric car market outside China as well as being the world's largest electric car market. Growth in Chinese car exports has been exponential with exports of electric cars growing 123% so far this year. However, electric export growth has also been picking up in traditionally combustion focused countries such as Japan.
Trade in integrated circuits is worth almost $1 trillion annually. This includes processers, controllers, memory chips and the like, which form the centrepiece of most things we use or drive. Machinery and related parts, accessories and tools for producing semiconductors are worth another $100 billion per year. The value of semiconductor and machinery trade is higher than it was in 2018, but trade patterns are changing significantly with new production capacity being established around the world and not just in China and the United States.
The worldwide cut flower market generates about 1.5 million tonnes of exports every year worth about $8 billion. In intercontinental markets most of that moves by air, but there has been a mode shift observed in some markets. Four countries account for almost 80% of worldwide fresh cut flower exports – the Netherlands, Colombia, Kenya and Ecuador. The biggest worldwide import markets include the European Union, the United States, the United Kingdom, Russia and Japan. Cross border demand for flowers has followed a moderate upward growth trend over the past ten years, increasing by about 3% per year. US import markets have performed better than Europe and from an exporter perspective Colombia and Ecuador have done well.
COVID-19 vaccine production has led to significant additional temporary global vaccine traffic. However, with countries such as Brazil, China or India growing their manufacturing base this could create new regular cross border flows. This article looks at global vaccine production and cross border vaccine flows in and out of China, India, the United States and the European Union, as well as emerging flows out of countries such as Brazil and Russia.
The overall expectation for trade in most large economies – the US, the European Union, Japan and even China - is for little growth or even declining volumes. The next year is likely to look very different to last year and the next three years very different to the last three years. Southeast Asia and South Asia are expected to show much stronger performance than Northeast Asia. This article discusses 2022 and 2023 import and export performance across Northeast, Southeast and South Asia.
Over the past decade years meat exports accounted between four and six percent of the value of Australian exports. Exports of fresh and frozen meat peaked in 2019 and have declined 20% mainly due to a drop in trade with China.