2023 will be a challenging year for many countries.
Germany, Vietnam, South Korea and other traditional export powerhouses have not been spared, and Germany's exports outside the EU fell sharply in December last year and may continue to stagnate in 2024. According to data released by the German Federal Statistical Office, on a working day and seasonally adjusted basis, German exports to countries outside the European Union amounted to 57.2 billion euros, down 4% month-on-month from November and down 9% year-on-year2%。According to the economic research institute IFW**, Germany's total exports will fall by 14%, and it is likely that it will continue to stagnate in 2024. Vietnam's merchandise imports and exports reached US$683 billion, the largest surplus on record, but exports fell by 4 percent year-on-year4 percent, while imports fell 8 percent9%。South Korea's export value in 2023 is 6326900 million US dollars, a year-on-year decrease of 74%, the first decline in South Korea's exports since 2020.
In the world, the situation of these countries has declined, but compared to 2022, the size of the deficit of Vietnam and South Korea has improved, and it is hoped that each country can overcome the challenge as soon as possible.
In the post-pandemic recovery, there are huge disparities between the world's major economies, and income inequality is widening. However, there are also some countries that are heading against the winds with the world. Judging from the annual foreign trade export data, China, Japan, Brazil, Mexico, Australia, Turkey, Peru and other countries have achieved export growth.
Japan's cargo deficit in 2023 fell sharply to 929 trillion yen, a decrease of 54 from the previous year3%。Japan's Ministry of Finance said that the main reason for the decline in commodities such as energy in the international market was the main reason. Australia's export surplus reached about 1,588$7.3 billion, mainly spurred by the recovery of the tourism sector. Turkey's exports in 2023 reached a record $255.8 billion, exceeding the original medium-term plan target. However, there are also some countries that have experienced a decline in imports and exports due to the impact of sluggish global demand, such as Argentina, whose exports fell by 24% year-on-year in 20235%, and the total import value decreased by 9 year-on-year6%。