INSIGHTSOctober 2023 saw global ocean freight rates decline by 2.6 per cent, with the Xeneta Shipping Index at 165.3 points, erasing hopes of recovery after a brief 0.2 per cent increase in September 2023.Market volatility was marked, especially in Far East trades, while Europe and the US showed mixed results and general declines in October 2023.Global ocean freight rates saw a 2.6 per cent drop in October, with the Xeneta Shipping Index (XSI) at 165.3 points, according to Xeneta, a leading prov

The used clothing market is growing at a faster rate than the trendy new clothing market. It is assumed that the used clothing will take over the global fashion market for new clothing. Currently, the global market for such clothing is worth $175 billion dollars. It will double by the year 2027. The world market for old clothes can become $350 billion. Figure 1: the global market for used clothing may reach $350 billion by 2027. Infographics byTexSpace TodayThese facts have been hi

INSIGHTSAround 70 per cent of US consumers shop for themselves during holiday sales like Black Friday and Cyber Monday, and 67 per cent shop for immediate family.Despite concerns about inflation affecting 54 per cent of respondents, 87 per cent plan to participate in holiday sales this year.Those who opt out cite reasons including recession fears.Around 70 per cent of consumers in the US admit to shopping for themselves during holiday sales such as Black Friday and Cyber Monday, as per a survey.

INSIGHTSIn January-September 2023, China experienced a 9.49 per cent decline in its cumulative exports of textiles, garments and accessories, totalling $223.147 billion.The figure is down from $246.55 billion recorded in January-September 2022.The decrease is broad-based, affecting garment exports by 8.8 per cent and textile products by 10.3 per cent.

INSIGHTSChina remains Mongolia's largest trading partner, with bilateral trade reaching $13 billion between January and September 2023.In the textile sector, China's apparel and fabric exports to Mongolia have shown significant growth in recent years.Apparel exports doubled from $4.794 million in 2019 to $9.837 million in 2020 and continued to rise.

INSIGHTSDespite economic uncertainties, US consumers are expected to spend an average of $1,652 this holiday season, a 14 per cent increase from last year, according to Deloitte's 2023 survey.Middle-income groups are planning to boost spending the most.Confidence in staying within budget has dipped to 57 per cent in 2023 from 63 per cent last year.Despite the uncertain economic landscape in the US, consumer spending this holiday season is expected to surpass 2019 levels, with an average plan

INSIGHTSChina's e-commerce logistics index was 112.3 points in September—up by 1.2 points from the August figure, the China Federation of Logistics and Purchasing said.The overall demand for e-commerce logistics has significantly improved, and the supply capacity and efficiency of logistics enterprises have steadily increased, the federation added.China's e-commerce logistics index was 112.3 points in September—up by 1.2 points from the August figure, according to the China Federation of

INSIGHTSThe 2024 Australian cotton crop shows positive signs as global demand rises and competitors face shortfalls.Cotton merchants report more engagement with international buyers ahead of World Cotton Day.ATMAC has expanded Australia's cotton market, with Vietnam taking 37 per cent of exports, and Indonesia and Malaysia accounting for over 20 per cent.There are some positive signs for the 2024 Australian cotton crop with global demand increasing while major competitors are facing crop sho

INSIGHTSSmall US businesses reported domestic supplier delays dropped from 36.1 per cent in April last year to 14.5 per cent in July 2023, according to the US Census Bureau's economic indicators division.Foreign supplier delays also dropped significantly to 4.3 per cent from 13 per cent in July 2022.Since then, supply chain issues have declined significantly.Small US businesses reported domestic supplier delays dropped from a high of 36.1 per cent in April last year to 14.5 per cent during J

INSIGHTSA new freight train route between Shanghai and Vientiane was launched on Sunday, linking the China-Laos and Shanghai-Kunming railways.Starting from Kunming, the train's journey to Shanghai will take roughly 82 hours.Since December 2021, the China-Laos Railway has transported 27 million tonnes of goods to various Southeast Asian countries.A new freight train route connecting Shanghai and Vientiane, the capital of Laos, has been inaugurated on Sunday, according to the information offic