Weekly Newsletter

Argentina will tighten import controls to control foreign exchange

Argentina will further tighten import regulations to reduce the outflow of foreign exchange reserves, the economy ministry said. Specific measures include: the import application scale of the importer will be certified to meet its financial capacity; Requiring importers to designate only one bank account for foreign trade; Require importers to more precisely time their purchases of reserve currencies such as dollars from central banks.

Singapore's retail sales rose 13 per cent in August from a year earlier

Total retail sales in August 2022 reached 3.8 billion Singapore dollars (18.991 billion yuan), up 13 percent year-on-year and down 1.3 percent month-on-month, according to data released by the Singapore Bureau of Statistics. The biggest increase among the country's 14 retail sectors was in apparel and footwear sales, up 64.7%.

The number of social e-commerce buyers in the United States has soared and will surpass 100 million

According to new data from eMarketer, the average social e-commerce buyer in the US will spend $518 in 2022, up 26.9% year on year, and the country's social e-commerce buyer base will surpass the 100 million mark. Separately, September e-commerce sales in the US rose 10.7% from a year earlier and 22.3% from the same month in 2019.

South Korean shipyard wins world's largest new shipbuilding order

Global new shipbuilding orders in September 2022 were 2.17 million CGT (revised gross ton), according to Clarkson. Among them, South Korean shipyards won 1.32 million CGT of new shipbuilding orders, accounting for 61% of the global total. In the first nine months of this year, South Korean shipyards received 13.22 million CGT, accounting for 44% of the global total of 30.34 million CGT.

WTO: World Trade in goods to grow by 3.5%

The World Trade Organization (WTO) has released its latest forecast: The volume of global goods trade will grow by 3.5% in 2022, up slightly from the 3.0% forecast in April, but only 1% in 2023, down from the previous estimate of 3.4%. Global GDP is forecast to grow by 2.8 per cent in 2022 and 2.3 per cent in 2023.

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