Revealing! Côte d'Ivoire Import Data Latest Release: Top Five Products Unveiled!

Publishing Date：2024-09-18 17:15:42 Source: NBD Data(en.nbd.ltd)

Recently, we conducted a comprehensive analysis of Côte d'Ivoire's customs import data for August 2024, offering insights into the latest trends in the import market. This analysis covers the total number of imported goods, total value, and the number of buyers and suppliers. Through this data, we can gain an overview of the overall dynamics of the Côte d'Ivoire import market and the performance of various product categories. Whether you are an international trade company, a logistics provider, or a market analysis professional, this report will provide valuable insights.

Overview of Côte d'Ivoire Import Data for August 2024

In August 2024, the Côte d'Ivoire customs import data recorded a total of 66,368 entries, a decrease of 1,599 entries from the previous month, marking a month-on-month decline of 2.35%. Compared to the same period last year, there was a decrease of 1,521 entries, representing a year-on-year decrease of 2.24%. The total import value for this month reached $2.83 billion, a decrease of $476 million from the previous month, down by 14.4% month-on-month; compared to the same period last year, it decreased by $716 million, down by 20.2%.

The number of buyers this month was 2,519, a decrease of 59 compared to the previous month, down by 2.29% month-on-month; compared to the same period last year, the number of buyers decreased by 98, a year-on-year decline of 3.75%. Meanwhile, the total number of suppliers this month was 9,357, a decrease of 143 compared to the previous month's 9,500, marking a month-on-month decline of 1.51%. It is worth noting that due to the unavailability of data from the same period last year, the year-on-year change could not be calculated.

Overall, the import market in Côte d'Ivoire showed signs of contraction this month, with decreases in the total number of imports, total value, and the number of buyers and suppliers. This trend may be influenced by various factors such as the global economic environment and changes in market demand. Next, we will delve into the import categories in August 2024 and the specifics of imports from China.

Côte d'Ivoire's Top Five Imported Goods for August

In August 2024, the top five imported goods in Côte d'Ivoire were mainly concentrated in petroleum products and mechanical parts:

  1. HS Code 271012 - Light Oils & Preparations: The total import value this month reached $790 million, showing a 23.3% increase compared to the same period last year. This indicates a steady demand for light oil products amid the growing global energy demand.

  2. HS Code 271019 - Lubricating Oils & Related Products: The total import value was approximately $733 million, down by 3.8% year-on-year. These products are primarily used in industrial and automotive sectors. The decline in both month-on-month and year-on-year comparisons could be linked to recent market price fluctuations and demand changes.

  3. HS Code 270900 - Crude Oil & Crude Oil Products: The total import value this month was $103 million, marking a month-on-month decrease of 66.4% and a year-on-year decrease of 69.6%. The significant drop in crude oil imports may be due to fluctuations in global crude oil market supply and demand, as well as price adjustments.

  4. HS Code 848180 - Mechanical Equipment Parts (Faucets, Valves, etc.): The total import value this month was about $46.4 million, with a month-on-month surge of 1209.8% and a year-on-year growth of 970.8%. The sharp increase in demand for mechanical equipment parts could be related to the advancement of Côte d'Ivoire's domestic industry and infrastructure construction.

  5. HS Code 271113 - Liquefied Natural Gas (LNG): The total import value this month was approximately $38.5 million, showing a 9.4% increase year-on-year. As a clean energy source, LNG has seen steady demand growth in the global market in recent years.

Recommended Côte d'Ivoire Buyers for Major Products

This month, the import market in Côte d'Ivoire featured several noteworthy buyers across different product categories:

  1. HS Code 271012 - Light Oils & Preparations

    • GESTOCI-STE DE GESTION:

      • Purchase Amount: $387,183,917
      • Month-on-month Growth: $32,347,603
      • Year-on-year Growth: $34,591,315
      • Website: gestoci.ci
      • A key player in the energy sector, showing steady demand for light oil products with increases in both month-on-month and year-on-year figures.

    • PETROCI HOLDING:

      • Purchase Amount: $229,497,086
      • Month-on-month Growth: $32,191,898
      • Year-on-year Growth: $229,497,086 (no purchase in the same period last year)
      • Website: petroci.ci
      • A state-owned oil company in Côte d'Ivoire, showing significant growth in the light oil market.

    • SIR (SOCIETE IVOIRIENNE RAFFINAGE):

      • Purchase Amount: $67,343,193
      • Month-on-month Decrease: $-69,030,573
      • Year-on-year Growth: $67,343,193 (no purchase in the same period last year)
      • Website: sir.ci
      • A major refinery company with a significant increase year-on-year, indicating a possible influence of market dynamics on their procurement strategy.

  2. HS Code 271019 - Lubricating Oils & Related Products

    • GESTOCI-STE DE GESTION:

      • Purchase Amount: $408,503,477
      • Month-on-month Growth: $46,205,884
      • Year-on-year Growth: $12,029,567
      • Website: gestoci.ci
      • Shows steady demand for these products with positive growth in both month-on-month and year-on-year comparisons.

    • PETROCI HOLDING:

      • Purchase Amount: $131,191,833
      • Month-on-month Decrease: $-49,233,378
      • Year-on-year Growth: $131,191,833 (no purchase in the same period last year)
      • Website: petroci.ci
      • The company shows a slight decline month-on-month but an overall increase year-on-year, indicating a strategic adjustment in their procurement.

    • VIVO ENERGY CI:

      • Purchase Amount: $74,976,552
      • Month-on-month Growth: $3,992,770
      • Year-on-year Growth: $9,765,017
      • Website: vivoenergy.com
      • Exhibits a steady growth trend in the lubricating oil market, with positive figures in both month-on-month and year-on-year comparisons.

  3. HS Code 270900 - Crude Oil & Crude Oil Products

    • SIR (SOCIETE IVOIRIENNE RAFFINAGE):
      • Purchase Amount: $102,804,740
      • Month-on-month Decrease: $-202,741,860
      • Year-on-year Decrease: $-235,152,030
      • Website: sir.ci
      • Displays a significant decrease in crude oil purchases, likely influenced by fluctuations in global crude oil prices or changes in domestic demand.

  4. HS Code 848180 - Mechanical Equipment Parts (Faucets, Valves, etc.)

    • BAKER HUGHES EHO LTD.:

      • Purchase Amount: $43,692,404
      • Month-on-month and Year-on-year Growth: $43,692,404 (no purchase in the previous month or same period last year)
      • Website: bakerhughes.com
      • Showed outstanding performance in mechanical equipment parts, indicating potential business expansion in the Côte d'Ivoire market.

    • FADCO COMPANY:

      • Purchase Amount: $394,211
      • Month-on-month Growth: $5,744
      • Year-on-year Growth: $394,211 (no purchase in the same period last year)
      • Website: fadcoksa.com
      • Shows stable demand for mechanical equipment parts with positive month-on-month and year-on-year growth.

    • OLAM COCOA PROCESSING CI:

      • Purchase Amount: $319,394
      • Month-on-month Growth: $311,412
      • Year-on-year Growth: $284,779
      • Website: fmo.nl
      • Exhibits significant growth in the demand for mechanical equipment parts.

Côte d'Ivoire's Major Trade Partners

In August 2024, China and France continued to dominate as Côte d'Ivoire's top trade partners:

  • China: Maintains its position as the largest trade partner with a total export value of $195 million, though there was a month-on-month decrease of $9.89 million (5.4%) and a year-on-year decrease of $26.76 million (12%). Despite this decline, China remains a key partner, offering a diverse range of export goods.

  • France: The total export value amounted to $173 million, with a month-on-month increase of $19.16 million (12.5%) and a year-on-year increase of $3.09 million (1.8%). France continues to show steady growth in trade with Côte d'Ivoire, highlighting the strength of their trade relationship.

  • Belgium: Exported goods worth $124 million, with a significant month-on-month decrease of $71.09 million (36.4%) but a year-on-year increase of $33.43 million (37%). The month-on-month decline may be due to market demand fluctuations, while the year-on-year growth indicates enhanced trade relations.

  • Nigeria: The export value was $108 million, showing a sharp month-on-month decrease of $133 million (55.2%) and a year-on-year decrease of $240 million (68.8%). This significant drop may be attributed to macroeconomic conditions and changes in trade policies.

  • Morocco: Exported goods valued at $79 million, with a month-on-month decrease of $12.09 million (13.3%) and a year-on-year decrease of $57.58 million (42%). Morocco's market share in Côte d'Ivoire has declined, possibly due to intensified competition or price fluctuations.

  • United Kingdom: Exported $71.58 million worth of goods, with a substantial month-on-month increase of $58.27 million (437.7%) and a year-on-year increase of $51.51 million (257%). The surge in export value may be driven by increased demand in specific sectors or products.

  • United States: The export value was $65.57 million, with a month-on-month increase of $29.51 million (81.8%) and a year-on-year increase of $44.51 million (211%). The U.S. shows remarkable export growth, indicating a competitive edge in certain market areas.

  • India: Exported goods valued at $46.26 million, with a month-on-month increase of $7.75 million (20.1%) but a year-on-year decrease of $31.52 million (40.5%). The mixed performance may reflect changes in commodity prices or market demand.

  • Ghana: The export value was $43.75 million, showing a slight month-on-month decrease of 2.04% and a marginal year-on-year decline. Ghana's trade with Côte d'Ivoire remains relatively stable with minimal fluctuations.

  • Senegal: Exported goods valued at $41.25 million, with a month-on-month decrease of 6.8% but a significant year-on-year increase of 91.5%. This indicates a growth trend in trade with Côte d'Ivoire.

Overall, the data reveals that China and France remain the most important trade partners for Côte d'Ivoire, with varying changes in export values. Countries like Nigeria and Morocco have experienced notable declines in exports, likely due to a range of influencing factors. In contrast, the United Kingdom and the United States have shown strong growth momentum, indicating a competitive position in the Côte d'Ivoire market.

Conclusion

The Côte d'Ivoire import market in August 2024 exhibits a diversified development trend. The primary imported goods are concentrated in petroleum, mechanical parts, and agriculture-related products. As for major trade partners, China and France continue to lead, while countries like the United Kingdom and the United States show strong growth. All these data points highlight the dynamic changes in Côte d'Ivoire's foreign trade data, customs data, and import-export data. By analyzing this data, we gain deeper insights into the development trends of Côte d'Ivoire's import market, providing valuable support for international trade companies and market analysts.

Disclaimer: The data and analysis in this report are derived from NBD Data's statistical results and may contain some errors. Users should verify these data independently. NBD Data is not responsible for any consequences arising from the use of this report's information.

For more detailed data, please visit NBD Data's official website: en.nbd.ltd

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2024-10-11 13:05:38

As global trade continues to grow, Turkey's import market is showing strong demand and abundant opportunities. For foreign trade companies, logistics enterprises, and market analysis professionals, Turkey's customs import data is undoubtedly a valuable resource. This data not only reveals the trends in major imported commodities in Turkey but also showcases the intricate relationships between global suppliers and buyers. In this article, we will provide an in-depth analysis of Turkey's August 2024 import data, helping trade professionals stay ahead of market trends and make informed business decisions.Overview of Turkey's Import Data This MonthAccording to Turkey's customs import data for August 2024, the total number of import records this month reached 1,067,904, an increase of 32.1% compared to July's 808,340 records. However, compared to the same period last year, the overall data decreased by 588,285 records, showing a year-on-year decline of 35.5%. This reflects some fluctuations in Turkey's import market, which may be affected by the global economic situation and supply chain changes.In terms of import value, Turkey's total import value this month was $16.12 billion, which represents a 23.45% increase compared to last month's $13.06 billion. Although there was a decrease compared to last year's $30.56 billion, with a year-on-year decline of 47.26%, the data still demonstrates the resilience and potential recovery of Turkey's import market.From the perspective of buyers, the number of importers in Turkey in August was 28,956, an increase of 4,482 from last month, showing an 18.31% month-on-month growth. However, compared to the same period last year, which had 37,581 importers, there was a year-on-year decrease of 22.95%. This change could be related to market restructuring and changes in buyer demand. On the other hand, the number of suppliers this month was 55,275, up 22.85% from last month's 44,994 suppliers. Despite this increase, compared to the same period last year, there was a decrease of 18,326 suppliers, showing a 24.89% year-on-year decline. These data illustrate the complexity of Turkey's import market amid adjustments in the global supply chain.Main Imported Commodities in Turkey This MonthThis month, Turkey's imports cover several major categories, with the top-ranking commodities as follows:Mineral Fuels & Oils (HS Code: 271019): The total import value this month was $897 million, representing a 5.1% increase from last month's $846 million. However, compared to the same period last year ($1.29 billion), the year-on-year decrease was 30.41%. This trend indicates that although Turkey's demand for mineral fuels remains stable, it is impacted by fluctuations in international energy prices.Aircraft & Spacecraft Parts (HS Code: 880240): The import value for this category this month was $699 million, showing a significant 110.58% increase compared to last month's $332 million. However, compared to the same period last year ($890 million), it represented a 21.39% decrease. The volatility in aircraft imports is mainly related to specific project procurement and the development plans of Turkey's aviation industry.Precious Metals (HS Code: 710812): The import value for precious metals was $624 million this month, with a month-on-month growth of 7.41%, but a sharp year-on-year decrease of 78.08% compared to $2.84 billion in the same period last year. The significant reduction in precious metals imports may be related to international gold price fluctuations and changing domestic demand in Turkey.Alloy Steel Scrap (HS Code: 720449): The import value this month was $429 million, which was a 32.54% increase from last month's $324 million. However, compared to the same period last year ($760 million), it represented a decrease of 43.61%. This suggests that Turkey's demand for metal recycling and smelting has adjusted.Passenger Cars & Other Vehicles (HS Code: 870322): The import value for passenger cars was $350 million this month, showing a 7.56% month-on-month increase but a 51.73% year-on-year decline. The reduction in automobile imports may be due to the increase in domestic automobile production and changes in consumer demand.These data not only reveal the current dynamics of Turkey's import market but also reflect changes in the country's economic structure and consumption trends.Top Buyers of Key Commodities in TurkeyBelow is a list of key buyers for major imported commodities in Turkey this month, providing potential partners for businesses interested in the Turkish market:Mineral Fuels & Oils (HS Code: 271019)OPET PETROLCÜLÜK ANONİM ŞİRKETİ (opet.com.tr) — Purchase value this month: $159 million, MoM value: $94 million, MoM increase: $65.05 million, YoY value: $168.58 million, YoY decrease: $9.46 million.PETROL OFISI ANONIM SIRKETI (petrolofisi.com.tr) — Purchase value this month: $137 million, MoM value: $137 million, MoM decrease: $0.67 million, YoY value: $194 million, YoY decrease: $57.90 million.GÜZEL ENERJİ AKARYAKIT ANONİM ŞİRKETİ (guzelenerji.com.tr) — Purchase value this month: $112 million, MoM value: $61 million, MoM increase: $51.52 million, YoY value: $79 million, YoY increase: $32.69 million.Passenger Cars & Other Vehicles (HS Code: 870322)DOĞUŞ OTOMOTİV SERVİS VE TİCARET ANONİM ŞİRKETİ (dogusotomotiv.com.tr) — Purchase value this month: $95.49 million, MoM value: $38.34 million, MoM increase: $57.15 million, YoY value: $226.32 million, YoY decrease: $130.83 million.YÜCE AUTO MOTORLU ARAÇLAR TİCARET ANONİM ŞİRKETİ (skoda.com.tr) — Purchase value this month: $66.20 million, MoM value: $53.34 million, MoM increase: $12.85 million, YoY value: $34.03 million, YoY increase: $32.16 million.STELLANTIS OTOMOTİV PAZARLAMA ANONİM ŞİRKETİ (stellantis.com) — Purchase value this month: $55.62 million, MoM value: $73.17 million, MoM decrease: $17.54 million, YoY value: $189 million, YoY decrease: $133.39 million.Polypropylene (HS Code: 390210)POLIBAKPLASTIK FILM SANAYI VE TICARET ANONIM SIRKETI (polibak.com.tr) — Purchase value this month: $9.64 million, MoM value: $6.91 million, MoM increase: $2.73 million, YoY value: $10.15 million, YoY decrease: $0.51 million.GÜLSAN SENTETİK DOKUMA SANAYİ VE TİCARET ANONİM ŞİRKETİ (gulsanholding.com) — Purchase value this month: $7.88 million, MoM value: $9.22 million, MoM decrease: $1.34 million, YoY value: $12.52 million, YoY decrease: $4.64 million.SÜPER FİLM AMBALAJ SANAYİ VE TİCARET ANONİM ŞİRKETİ (superfilm.com) — Purchase value this month: $7.15 million, MoM value: $5.62 million, MoM increase: $1.53 million, YoY value: $4.51 million, YoY increase: $2.64 million.These buyers are key players in Turkey's major imported commodities, playing indispensable roles in the global supply chain. 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The chart below illustrates the trend from October 2023 to September 2024.From the chart, it can be seen that the exchange rate of the Turkish Lira against the US Dollar has increased from 27.77 in October 2023 to 33.97 in September 2024Disclaimer: The data and analysis in this report are derived from NBD Data's statistical results and may contain some errors. Users should verify these data independently. NBD Data is not responsible for any consequences arising from the use of this report's information....

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Namibia Import Market New Trends: August 2024 Customs Data Analysis - A Must-Read for Trade Professionals!

2024-09-29 12:24:34

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Furthermore, the number of suppliers this month reached 11,524, a slight decrease of 1.44% compared to last month's 11,693 suppliers, and a YoY decrease of 9.21% from 12,697 suppliers in August last year. This trend indicates that the supply chain structure in the Namibian market is gradually being optimized, with importers preferring to cooperate with more competitive suppliers.Overall, the Namibian import market in August 2024 exhibited characteristics of “an increase in total entries, a decrease in total value, more importers, and fewer suppliers.” This suggests that although the number and variety of imported goods are increasing, the overall decline in import value indicates a slowdown in demand for high-value goods. In this context, foreign trade companies can consider enhancing product competitiveness and reducing costs to further strengthen cooperation with the Namibian market.Top 5 Imported Products in Namibia for August 2024In August 2024, the top five imported product categories in the Namibian market were mainly concentrated in mineral fuels, vehicles and their parts, and food & beverages. The import value of these products accounted for a significant proportion of the overall market and showed varying degrees of fluctuation on both a month-on-month and year-on-year basis.Mineral Fuels and Products (HS Code: 271012)The total import value of mineral fuels in Namibia for August was USD 255,376,982, representing a month-on-month decrease of 6.30% compared to July’s USD 272,560,114. When compared to the same period last year (USD 395,383,687), it showed a significant year-on-year decrease of 35.41%. This category primarily includes gasoline, diesel, and other petroleum products, which serve as vital energy sources for Namibia's industrial and transportation sectors. The fluctuation in import value could be closely linked to global energy prices and changes in market demand.Light Vehicles (HS Code: 870421)In August 2024, the total import value of light vehicles in Namibia was USD 37,963,378, a substantial month-on-month decline of 35.95% from July’s USD 59,277,714. Compared to the same period last year (USD 44,978,060), there was a year-on-year decline of 15.60%. Light vehicles mainly refer to passenger and cargo vehicles with a weight not exceeding 5 tons. 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(validus-energy.com)Total purchase amount this month: 64,379,033 USD; MoM amount: 0 USD; MoM change: 64,379,033 USD; YoY amount: 117,043,855 USD; YoY change: -52,664,822 USD.PUMA ENERGY NAMIBIA PTY LTD. (pumaenergy.com)Total purchase amount this month: 46,767,233 USD; MoM amount: 57,048,762 USD; MoM change: -10,281,529 USD; YoY amount: 8,014,375 USD; YoY change: 38,752,858 USD.Light Vehicles (HS Code: 870421)INDONGO AUTO PTY LTD. (indongomotorsgroup.com)Total purchase amount this month: 10,709,451 USD; MoM amount: 10,204,779 USD; MoM change: 504,672 USD; YoY amount: 12,123,435 USD; YoY change: -1,413,984 USD.PUPKEWITZ MOTORS PTY LTD. (pupkewitz-motors.com)Total purchase amount this month: 8,501,153 USD; MoM amount: 7,912,604 USD; MoM change: 588,549 USD; YoY amount: 11,376,313 USD; YoY change: -2,875,160 USD.INDONGO MOTORS PROPRIETARY LTD. (indongomotorsgroup.com)Total purchase amount this month: 3,178,741 USD; MoM amount: 4,034,807 USD; MoM change: -856,066 USD; YoY amount: 3,958,575 USD; YoY change: -779,834 USD.Beer and Malt Beverages (HS Code: 220300)NAMIBIA BREWERIES LTD. (nambrew.com)Total purchase amount this month: 31,404,027 USD; MoM amount: 30,768,055 USD; MoM change: 635,972 USD; YoY amount: 12,446,598 USD; YoY change: 18,957,429 USD.ANHEUSER-BUSCH INBEV NAMIBIA BREWERIES PTY LTD. (ab-inbev.com)Total purchase amount this month: 5,076,561 USD; MoM amount: 4,461,444 USD; MoM change: 615,117 USD; YoY amount: 4,895,518 USD; YoY change: 181,043 USD.ZEF COMERCIAL (zefenergy.com)Total purchase amount this month: 113,805 USD; MoM amount: 43,514 USD; MoM change: 70,291 USD; YoY amount: 44,020 USD; YoY change: 69,785 USD.Medium Passenger Vehicles (HS Code: 870323)TRANSWORLD CARGO (PTY) LTD. (transworldcargo.net)Total purchase amount this month: 13,304,415 USD; MoM amount: 4,394,573 USD; MoM change: 8,909,842 USD; YoY amount: 0 USD; YoY change: 13,304,415 USD.INDONGO AUTO PTY LTD. (indongomotorsgroup.com)Total purchase amount this month: 2,134,717 USD; MoM amount: 1,486,218 USD; MoM change: 648,499 USD; YoY amount: 3,315,517 USD; YoY change: -1,180,800 USD.FIRST NATIONAL BANK OF NAMIBIA LTD. (fnbnamibia.com.na)Total purchase amount this month: 1,757,676 USD; MoM amount: 1,278,890 USD; MoM change: 478,786 USD; YoY amount: 1,781,694 USD; YoY change: -24,018 USD.Diamonds and Jewelry (HS Code: 710231)KGK DIAMONDS NAMIBIA PTY LTD. (kgkgroup.com)Total purchase amount this month: 3,304,952 USD; MoM amount: 695,197 USD; MoM change: 2,609,755 USD; YoY amount: 3,188,010 USD; YoY change: 116,942 USD.The above buyers are active purchasers of major products in the Namibian market, with high purchase frequency and stable trade demand. Foreign trade companies should prioritize these buyers and use NBD Data (en.nbd.ltd) to further explore potential business opportunities, optimize trade strategies, and enhance market competitiveness.Analysis of Namibia's Key Trading PartnersSouth AfricaAs Namibia's largest trading partner, South Africa recorded a total of 165,241 transactions this month, with a total trade value reaching USD 389,859,340. Although the month-on-month trade value decreased by USD 20,031,887, it showed a year-on-year increase of USD 19,581,419, highlighting South Africa’s stable presence in the Namibian market. South Africa's main export products to Namibia include food, mineral fuels, and machinery, making it a primary supplier to the Namibian market.United Arab EmiratesThis month, the United Arab Emirates exported goods worth USD 90,827,666 to Namibia. Despite a month-on-month decrease of USD 33,447,583, the trade value increased by USD 10,782,180 compared to the same period last year. This indicates the UAE’s strong competitive position in exporting electronic equipment and mineral products to Namibia.QatarQatar saw a significant increase in trade activity with Namibia this month, with a total trade value of USD 81,414,768. The value increased by USD 81,409,076 compared to the previous month, as new trade transactions were established. Qatar's main export products include liquefied natural gas (LNG) and other energy products, signaling an expanding cooperation between Qatar and Namibia in the energy sector.OmanOman’s total trade value with Namibia for this month reached USD 62,061,646, a month-on-month increase of USD 62,031,688. However, this represents a year-on-year decrease of USD 16,550,368, indicating significant trade fluctuations. This suggests the need to closely monitor future trade trends and cooperation between Oman and Namibia.ChinaThe total export value from China to Namibia this month was USD 33,765,781, a month-on-month decrease of USD 28,532,657. Nevertheless, it marked a year-on-year increase of USD 6,406,121. China’s main exports to Namibia include machinery and consumer goods. Despite short-term fluctuations, overall demand remains strong, reflecting China’s sustained role as a key supplier to Namibia.These key trading partners collectively shape Namibia's import market, with South Africa and China maintaining a significant presence. As Qatar and Oman expand their energy exports to Namibia, the dynamics of the Namibian import market are expected to continue evolving. Foreign trade enterprises can leverage these insights to explore new opportunities and establish stronger trade relations in the region.Exchange Rate AnalysisOverall Trend: Over the past year, the exchange rate of the Namibian Dollar (NAD) against the US Dollar (USD) has shown a fluctuating but overall declining trend, indicating that the Namibian Dollar has been appreciating against the US Dollar. The exchange rate gradually decreased from 19.07 NAD/USD in September 2023 to 17.99 NAD/USD in August 2024.Notable Changes:November to December 2023: During this period, the exchange rate slightly increased from 18.22 to 18.26 NAD/USD, reflecting a relatively stable trend with minimal fluctuations.March to April 2024: The exchange rate rose from 18.75 to 18.97 NAD/USD, indicating a short-term depreciation of the Namibian Dollar against the US Dollar.Since May 2024: The exchange rate has gradually declined to 17.99 NAD/USD, showing a consistent appreciation of the Namibian Dollar, likely influenced by domestic economic policy adjustments or a weakening of the US Dollar.Future Trend ForecastBased on the current trend, the Namibian Dollar is expected to continue appreciating slightly against the US Dollar in the coming months. This projection is driven by the following factors:Recovery of Namibia's Domestic Economy: A stable and recovering domestic economy could strengthen the purchasing power of the Namibian Dollar.Global Weakening of the US Dollar: If the US Dollar continues to weaken, the Namibian Dollar is likely to experience further appreciation.It is recommended to closely monitor the global economic situation and any adjustments to Namibia’s domestic monetary policies, as these will be crucial factors in determining the future trend of the exchange rate. ConclusionThe Namibian import market in August 2024 showed significant changes in various aspects. Overall, although the total import value declined this month, the increase in the number of importers indicates growing diversity and activity in market demand. Among the major imported products, mineral fuels and light vehicles remain the mainstays of Namibia’s import market, while beer and malt beverages exhibited strong growth, reflecting an increase in local consumption demand.Regarding key trading partners, South Africa, China, and the United Arab Emirates continue to be Namibia’s most important partners, with South Africa holding the largest market share. Notably, emerging markets such as Oman and Qatar have shown rapid growth in exports to Namibia, indicating their potential to become significant players in the Namibian import market in the future.In terms of exchange rates, the Namibian Dollar (NAD) has generally appreciated against the US Dollar over the past 12 months. This trend could be attributed to local economic policies and a weakening US Dollar. If Namibia’s domestic economy remains stable, it is expected that the exchange rate will continue to show relative strength in the coming months.For foreign trade enterprises, understanding Namibia’s market demand and buyer information, especially focusing on product categories with increased import values and active buyers this month, such as beer and medium passenger vehicles, can help capture market opportunities. Furthermore, closely monitoring exchange rate fluctuations and global economic conditions can assist companies in formulating better trade strategies. NBD Data (en.nbd.ltd), as a provider of the latest and most comprehensive foreign trade data analysis, will continue to offer accurate market intelligence and professional trade data support for businesses and individuals.Disclaimer: The data and analysis in this report are derived from NBD Data's statistical results and may contain some errors. Users should verify these data independently. 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Heavyweight Report! India’s August Import Data Unveiled, A Must-Read for Trade Enterprises

2024-09-24 12:18:41

In the midst of an ever-changing global economic landscape, India's import-export trade dynamics have garnered significant attention. As a representative of emerging economies, India's monthly customs import data provides crucial market signals for global trade enterprises. The August 2024 Indian customs import data is particularly important, especially given the disruptions in global supply chains. India's procurement trends and market demand have become focal points of attention. This article provides a comprehensive analysis of India's import data for August 2024, revealing the products most favored by Indian buyers and the implications of these trends for import-export businesses. Whether you are a foreign trade company, a SOHO professional, or a market analysis expert, this article will provide forward-looking insights to help you better capture market opportunities.Overview of India's August Import DataAccording to India's customs import data for August 2024, the country recorded 5,019,114 import entries, representing a decrease of 393,117 entries compared to the previous month, a month-over-month (MoM) decline of 7.26%. However, when compared to the same period last year, with 4,383,435 entries, this marks an increase of 635,679 entries, a year-over-year (YoY) rise of 14.50%. Despite the monthly decline, this shows a significant improvement in overall import activity compared to last year, indicating steady growth in India's market demand.In terms of monetary value, India’s total imports in August 2024 reached $68,040,457,047, reflecting a 14.87% decline from the previous month's total of $79,923,423,894, a reduction of $11,882,966,847. However, compared to August 2023’s $53,303,800,292, the total import value increased by 27.65%. This notable rise suggests a strong recovery in India’s market demand, particularly in the sectors of bulk commodities and manufacturing raw materials.The number of import buyers in August 2024 was 59,269, a 2.33% decrease from last month, with a drop of 1,415 buyers. However, compared to the same period last year, the number of buyers increased by 2,374, marking a 4.17% YoY rise. This indicates that, despite short-term fluctuations, the overall demand for imported goods in the Indian market is steadily increasing.On the supplier side, a total of 111,888 suppliers were involved in India’s import and export activities this month, a 3.13% decrease from the previous month, with a reduction of 3,609 suppliers. Nevertheless, YoY data shows an increase of 8,659 suppliers, an 8.39% growth. This trend suggests that while certain suppliers have temporarily reduced exports to India, the overall supply chain is still expanding, and India’s appeal to global suppliers remains strong.This overview provides the macroeconomic background for the article. We will now delve into the specific products and market trends in India's imports this month.Top 5 Imported Goods in India for AugustAccording to India’s customs import data for August 2024, the top five imported goods covered a range of sectors including energy, precious metals, and electronics. Here’s a breakdown of the top categories:HS Code 270900 - Crude Oil & Unprocessed PetroleumThis month’s import value reached $10.745 billion, representing a 44.10% decrease from last month’s $19.221 billion and a 12.98% year-over-year (YoY) decline. The fluctuation in international oil prices and adjustments in India’s domestic demand are the primary reasons for this drop.HS Code 710812 - Non-Industrial Diamonds (Uncut or Simply Cut)Imports amounted to $8.949 billion this month, a massive 181.01% increase from the previous month and a 253.27% YoY surge. The sharp rise in imports is largely driven by a booming demand in the jewelry industry.HS Code 270119 - Coal (Unprocessed)This month saw coal imports valued at $2.43 billion, a 35.57% decline from last month, but a 17.61% YoY increase. India’s reliance on coal as a primary energy source remains strong, despite short-term fluctuations in imports.HS Code 854231 - Semiconductor DevicesThe import value for semiconductors was $1.57 billion this month, reflecting a slight 2.18% month-over-month (MoM) decrease, but a 19.29% YoY growth. The continuous demand for semiconductors underscores their importance in India’s expanding electronics industry.HS Code 851779 - Communication EquipmentImports in this category reached $1.457 billion, a 4.92% MoM decrease, but an 18.87% YoY increase. The ongoing development of 5G networks has sustained high demand for communication equipment.Key Buyers for India’s Major Imported GoodsBased on India’s customs import data for August 2024, below are the top product categories and their major buyers. The purchasing amount, as well as month-over-month (MoM) and year-over-year (YoY) changes for each buyer, highlight their importance in the Indian market.HS Code 270900 - Crude Oil & Unprocessed PetroleumHINDUSTAN PETROLEUM CORPORATION LIMITED (hindustanpetroleum.com)August Purchase Amount: $2.264 billion | MoM: $2.620 billion | MoM Decrease: -$356 million | YoY: $2.488 billion | YoY Decrease: -$223 millionINDIAN OIL CORPORATION LIMITED (iocl.com)August Purchase Amount: $1.802 billion | MoM: $3.125 billion | MoM Decrease: -$1.323 billion | YoY: $3.015 billion | YoY Decrease: -$1.213 billionBHARAT PETROLEUM CORPORATION LIMITED (bharatpetroleum.in)August Purchase Amount: $1.775 billion | MoM: $2.520 billion | MoM Decrease: -$745 million | YoY: $2.073 billion | YoY Decrease: -$297 millionHS Code 710812 - Non-Industrial Diamonds (Uncut or Simply Cut)MMTC - PAMP INDIA PRIVATE LIMITED (mmtcpamp.com)August Purchase Amount: $2.103 billion | MoM: $1.171 billion | MoM Increase: +$931 million | YoY: $716 million | YoY Increase: +$1.387 billionHDFC BANK LIMITED (hdfcbank.com)August Purchase Amount: $1.803 billion | MoM: $264 million | MoM Increase: +$1.539 billion | YoY: $248 million | YoY Increase: +$1.555 billionICICI BANK LTD. (icicibank.com)August Purchase Amount: $1.229 billion | MoM: $365 million | MoM Increase: +$864 million | YoY: $158 million | YoY Increase: +$1.071 billionHS Code 270119 - Coal (Unprocessed)TATA STEEL LIMITED (tatasteel.com)August Purchase Amount: $344 million | MoM: $582 million | MoM Decrease: -$238 million | YoY: $150 million | YoY Increase: +$194 millionJSW STEEL LIMITED (jsw.in)August Purchase Amount: $332 million | MoM: $206 million | MoM Increase: +$125 million | YoY: $281 million | YoY Increase: +$50 millionSTEEL AUTHORITY OF INDIA LIMITED (sail.co.in)August Purchase Amount: $306 million | MoM: $613 million | MoM Decrease: -$307 million | YoY: $373 million | YoY Decrease: -$67 millionHS Code 854231 - Semiconductor DevicesFOXCONN HON HAI TECHNOLOGY INDIA MEGA DEVELOPMENT (foxconn.com)August Purchase Amount: $336 million | MoM: $342 million | MoM Decrease: -$6 million | YoY: $413 million | YoY Decrease: -$77 millionDBG TECHNOLOGY INDIA PRIVATE LIMITED (dbgindia.in)August Purchase Amount: $123 million | MoM: $128 million | MoM Decrease: -$5 million | YoY: $122 million | YoY Increase: +$1 millionHS Code 851779 - Communication EquipmentFOXCONN HON HAI TECHNOLOGY INDIA MEGA DEVELOPMENT (foxconn.com)August Purchase Amount: $542 million | MoM: $638 million | MoM Decrease: -$96 million | YoY: $667 million | YoY Decrease: -$125 millionPEGATRON TECHNOLOGY INDIA PRIVATE LIMITED (pegatroncorp.com)August Purchase Amount: $102 million | MoM: $65 million | MoM Increase: +$37 million | YoY: $84 million | YoY Increase: +$19 millionThe chart illustrates the export value of India's top 10 trading partners for August 2024. China leads with an export value of over $13 billion, followed by Russia and the United States. The chart, based on total export value, clearly reflects the contribution of each major trading partner to India's imports.Analysis:China is India’s largest trading partner, with a total of 2,060,523 import entries and 50,097 exporters in August. Despite a month-over-month decrease in total entries (-91,337), the year-over-year increase is significant, with entries up by 386,894 and a total value increase of $2.652 billion. This indicates India’s growing dependence on Chinese goods, particularly in communication equipment and electronic components.Russia is India’s primary supplier of energy products. Although it has fewer export entries compared to other partners, the total export value reached $5.349 billion. However, the export value saw a sharp month-over-month decline (-$5.148 billion), likely due to energy price fluctuations.The United States ranks as India’s third-largest trading partner, with a total export value of $4.42 billion. The year-over-year value grew by $881 million, primarily driven by increased demand for technology products and medical equipment.The United Arab Emirates (UAE), which primarily exports oil and gold, saw a total export value of $3.808 billion. The year-over-year increase of $1.014 billion reflects sustained demand in the energy and jewelry sectors.The chart illustrates the exchange rate trend of the Indian Rupee (INR) against the US Dollar (USD) over the past 12 months. The data shows that there was some fluctuation in early 2024, and particularly after April 2024, the Indian Rupee began to depreciate, with the exchange rate rising to 83.96.Analysis:From September 2023 to March 2024, the INR/USD exchange rate remained relatively stable with minor fluctuations. This stability is likely tied to a relatively calm global market and steady domestic economic conditions in India.After April 2024, the exchange rate saw a sharp increase, indicating a depreciation of the Indian Rupee. The exchange rate climbed from 83.02 to 83.96. This change is likely influenced by global market volatility, inflation, and international capital flows.Future Outlook:The depreciation of the Indian Rupee against the US Dollar is likely to continue, especially given increasing global economic uncertainty. If India is unable to control inflation or attract more foreign investment, the exchange rate may rise even further, signaling continued pressure on the Rupee.Through a comprehensive analysis of India’s August 2024 customs import data, it is clear that India's demand for imports continues to grow across several key sectors, particularly in energy, communication equipment, and electronic components. China, as India’s largest trading partner, maintains a strong presence in the import market, while other major partners such as the United States, Russia, and the UAE also play crucial roles in India’s import landscape.From the exchange rate trend, the continued depreciation of the Indian Rupee against the US Dollar is likely to further impact import costs, especially in the context of rising international oil prices and global supply chain disruptions. Over the coming months, India’s import dynamics may be influenced by exchange rate fluctuations, changes in the global economy, and adjustments in domestic demand.For foreign trade companies, understanding and navigating the trends in India’s import market is essential. By closely monitoring India’s import data, particularly for major commodities and key trade partners, businesses can better strategize, optimize their supply chains, and seize market opportunities. NBD Data will continue to provide you with the latest and most comprehensive customs data to support every step of your global trade decision-making process.Disclaimer: The data and analysis in this report are derived from NBD Data's statistical results and may contain some errors. Users should verify these data independently. NBD Data is not responsible for any consequences arising from the use of this report's information.For more detailed data, please visit NBD Data's official website: en.nbd.ltd...

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