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Due to the shrinking external demand, most of the worlds exports perform poorly, but Germany, Turkey, Uzbekistan and other countries have achieved reversal growth.

In 2023, the South Korean economy faced a historic challenge, with exports declining for a decade in a row and demand for chips declining.The country’s GDP also saw its biggest decline since the financial crisis, demonstrating the importance of South Korea as a global economic indicator and the complexity of the current global trade and economic environment.

Despite facing Western sanctions, Russia remains stable in the world’s top five economies by the end of 2022 and surpasses Germany to become Europe’s largest purchasing power parity economy, while China-Russia economic and trade cooperation continues to expand, China has become Russia’s largest trading partner for 13 consecutive years.

According to statistics from the Bureau of Statistics of Vietnam, Vietnam’s exports have declined for five consecutive months, manufacturing growth has slowed, the number of companies withdrawing from the market is high, and unemployment has continued to rise.

Faced with the challenges of the international trade environment, the Shanghai Pudong International Chamber of Commerce actively provides legal services to small and medium-sized enterprises to help enterprises cope with trade risks.This year, the joint team of professional lawyers of the Chamber of Commerce launched the Dynamic Review of International Trade Remedies Rules, providing prevention and response strategies for enterprises.

The Indian government recently announced a ban on exports of non-Indian shampoos to ensure domestic supply. This move rapidly led to rising global rice prices, and rice traders from major exporters such as Thailand and Vietnam are urgently negotiating to adjust sales contracts for 500,000 tons of rice. At the same time, importers such as the Philippines are also considering increasing rice reserves and increasing imports to address potential supply shortages.