export - updates

Rappler's latest stories on export

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Canada trade deficit shrinks as exports rebound

Jul 02, 2020 - 11:10 PM

Exports jump 6.7% to $34.6 billion, as 8 of Canada's 11 export sectors bounce back in May 2020

TRADE. A container terminal in Vancouver, Canada. Photo from Shutterstock

U.S. trade deficit widens as virus hits exports

Jul 02, 2020 - 10:45 PM

United States exports are down 4.4% to $144.5 billion, while imports fall 0.9% to $199.1 billion in May 2020

U.S. TRADE. Chinese shipping containers are stored beside a US flag after they were unloaded at the Port of Los Angeles in Long Beach, California, on May 14, 2019. File photo by Mark Ralston/AFP

OPEC throttles output in May 2020

Jun 17, 2020 - 10:00 PM

OPEC member states cut oil output by 6.2 million barrels per day in May 2020

OIL FEARS. In this file photo taken on December 11, 2019, an oil tanker is docked at the port of Ras al-Khair, about 185 kilometers north of Dammam in Saudi Arabia's eastern province overlooking the Gulf. File photo by Giuseppe Cacace/AFP

Peru's ginger exports soar during pandemic

Jun 11, 2020 - 9:15 AM

Peru's commerce ministry says ginger's medicinal benefits likely caused the increase in consumption. But experts also caution there is no definitive evidence it can treat COVID-19.

Vietnam's lychee crop not bearing fruit as prices slump

Jun 09, 2020 - 11:10 PM

Vietnam usually exports more than $30 million worth of fresh lychees each season, but business is down as the coronavirus crisis triggers border closures

Vietnamese farmers arrive with harvested lychees for sale to domestic traders at a wholesale market in Luc Ngan district of Vietnam's Bac Giang province on June 9, 2020. - Each year, Vietnam exports up to 100,000 tonnes of fresh lychees, earning more than 30 million USD in the season which often last between mid May and end of June. (Photo by Manan VATSYAYANA / AFP)

German exports plunge in April 2020, trade surplus collapses

Jun 09, 2020 - 10:15 PM

Compared with a year earlier, German exports slump 31.1% in April 2020 – 'the biggest fall in a single month since foreign trade statistics began in 1950'

Shipping containers are pictured in a storage and repair center in the harbor of the northern German city of Hamburg on March 26, 2020. - German consumer confidence has hit its lowest level since the last global economic crisis, a key survey found on March 26, 2020, as Europe's top economy braces for the impact of COVID-19. (Photo by MORRIS MAC MATZEN / AFP)

China imports plunge, exports fall on virus hit to global growth

Jun 07, 2020 - 3:30 PM

With consumer demand muted and key overseas markets suffering downturns, Chinese imports drop to a 4-year low in May 2020

TRADE WAR. This photo taken on June 24, 2019, shows containers at the Qingdao Port Foreign Trade Container Terminal in Qingdao, China. File photo by AFP

OPEC, allies agree to extend deep output cuts until July 2020

Jun 07, 2020 - 7:15 AM

(UPDATED) Algerian Oil Minister Mohamed Arkab, who currently holds OPEC's rotating presidency, says the agreed cut for July 2020 is 9.6 million barrels per day

OIL FACILITY. A general view of Saudi Aramco's Abqaiq oil processing plant on September 20, 2019. File photo by Fayez Nureldine/AFP

Stock markets power ahead on surprise U.S. jobs rise

Jun 06, 2020 - 7:25 AM

The Dow piles on around 830 points, or 3.2%, to finish at 27,110.98 on Friday, June 5

STOCK EXCHANGE. The Fearless Girl statue stands in front of the New York Stock Exchange near Wall Street in New York City on March 23, 2020. Photo by Angela Weiss/AFP

Pandemic shutdown of auto sector hits Canada trade hard

Jun 04, 2020 - 10:30 PM

Canada's total exports fall 29.7% in April 2020, while total imports are down 25.1% – described as 'unparalleled' declines

TRADE. A container terminal in Vancouver, Canada. Photo from Shutterstock

Mexico's monthly trade deficit hits $3 billion due to virus

May 25, 2020 - 11:30 PM

Exports in Mexico fall by more than 40% in April 2020, while imports are down 30%

TO GO WITH AFP STORY BY LAURENT THOMET Containers of import and export trade at the Lazaro Cardenas port, one of the biggest of the country, in Michoacan state, Mexico on December 02, 2013. AFP PHOTO/OMAR TORRES (Photo by OMAR TORRES / AFP)

China exporters look inwards as virus hits overseas markets

May 24, 2020 - 8:05 PM

As the coronavirus hits trade across the globe, exporters in China are forced to look to domestic markets after years of selling overseas

This photo taken on May 20, 2020, shows a worker assembling toy cars at the Mendiss toy factory in Shantou, southern China's Guangdong province. - Cancelled shipments, returned goods and a dearth of new orders have left China exporters in crisis as the coronavirus hits its trading partners worldwide -- accelerating a long-standing push towards domestic consumption. (Photo by NOEL CELIS / AFP) / TO GO WITH AFP STORY "CHINA-TRADE-EXPORTS" FOCUS by Beiyi SEOW

China trade growth 'unsustainable' if virus not controlled – minister

May 20, 2020 - 2:15 PM

To drive economic growth, China will 'rapidly activate domestic demand' to make up for weakness in the international markets

TRADE. This aerial photo taken on April 14, 2020, shows containers stacked at a port in Lianyungang in China's eastern Jiangsu province. Photo by AFP

OPEC sees oil market already rebalancing

May 13, 2020 - 9:20 PM

The Organization of the Petroleum Exporting Countries says 'speedy supply adjustments' are already 'showing positive response'

OIL. Pump jacks are seen at dawn in an oil field over the Monterey Shale formation near Lost Hills, California, on March 24, 2014. File photo by David McNew/Getty Images/AFP

German exports plunge in March 2020 on virus woes

May 08, 2020 - 5:55 PM

Germany posts an 11.8% drop in exports in March 2020, far steeper than a 5% forecast from analysts

TRADE. Container carrier vehicles are pictured at the container terminal Eurogate in the harbor of the northern German city of Hamburg on March 26, 2020. Photo by Morris Mac Matzen/AFP

China exports see surprise 3.5% jump in April, imports fall

May 07, 2020 - 4:25 PM

An analyst says China's exports of medical supplies provided a boost. But weakness may be ahead as key trading partners fall into recession.

THRIVING BUSINESS. Workers produce face masks for export at a factory in Lianyungang in China's eastern Jiangsu province on March 26, 2020. Photo by AFP

U.S. trade deficit widens on record export drop

May 05, 2020 - 10:05 PM

United States exports post a record decline of 9.6% in March 2020

SAN PEDRO, CALIFORNIA - NOVEMBER 07: Shipping containers, some marked 'China Shipping', are stacked at the Port of Los Angeles, the nation's busiest container port, on November 7, 2019 in San Pedro, California. Port officials said today October cargo volume was down 19 percent this year compared with October 2018 due to tariffs imposed in the U.S.-China trade war. The Port of Los Angeles along with neighboring Port of Long Beach are the United States' main gateways for trade with Asia. Mario Tama/Getty Images/AFP

Canada trade deficit widens as oil, car exports fall

May 05, 2020 - 9:45 PM

Canada's exports fall 4.7% to Can$46.3 billion in March 2020, while imports decline 3.5% to Can$47.7 billion

TRADE. A container terminal in Vancouver, Canada. Photo from Shutterstock

Russia suspends grain exports until July 1

Apr 26, 2020 - 11:45 PM

The Russian agriculture ministry says it already 'fully exhausted' export quotas for certain grains, prompting the suspension

WHEAT. Farmers bring in the harvest with their combine harvesters on a wheat field in the southern Russian Stavropol region on July 9, 2014. File photo by Danil Semyonov/AFP

Saudi Arabia wins oil price war – at a huge cost

Apr 21, 2020 - 11:05 PM

'Riyadh may have unleashed something it is unable to control,' says an analyst

DE FACTO LEADER. Saudi Arabia's Crown Prince Mohammed bin Salman attends a signing ceremony following a meeting of Russian President Vladimir Putin with Saudi Arabia's King Salman in Riyadh on October 14, 2019. File photo by Alexey Nikolsky/Sputnik/AFP

How can oil prices be negative?

Apr 21, 2020 - 10:15 PM

Here's how the value of a barrel of oil plunged into negative territory for the first time

OIL PRODUCTION. A view of a refinery at the Jubail Industrial City in Saudi Arabia on December 11, 2019. File photo by Giuseppe Cacace/AFP

TIMELINE: The oil market's 6-week plunge

Apr 21, 2020 - 11:15 AM

Here is a look back at a tumultuous 6-week period for oil, which saw United States prices plummeting to below zero

HUNTINGTON BEACH, CA - APRIL 20: A man walks on a path in front of an oil derrick near the Huntington Beach Oil Fields on April 20, 2020 in Huntington Beach, California. Oil prices traded in negative territory for the first time as the spread of coronavirus (COVID-19) impacts oil demand. Michael Heiman/Getty Images/AFP

Japan trade surplus dives 99% in March as coronavirus hits exports

Apr 20, 2020 - 12:30 PM

Japan's exports to the United States, European Union, and China tumble in March 2020, leading to an 11.7% drop for the month

Containers are seen at the international cargo terminal at the port of Tokyo on March 18, 2020. - Japan's imports from China almost halved last month from a year earlier to log the steepest fall since 1986 as the new coronavirus outbreak disrupted trade, official data showed March 18. (Photo by Kazuhiro NOGI / AFP)

Saudi Aramco to supply 8.5 million barrels per day starting May

Apr 18, 2020 - 12:15 AM

Oil giant Aramco does not clarify whether or how this would be split between exports and domestic supply

SAUDI ARAMCO. Investors stand in front of the logo of Saudi state oil giant Aramco during the 10th Global Competitiveness Forum in Riyadh on January 25, 2016. File photo by Fayez Nureldine/AFP

OPEC says oil market undergoing 'historic shock'

Apr 16, 2020 - 11:10 PM

The Organization of the Petroleum Exporting Countries now forecasts a drop of around 6.8 million barrels per day in average daily demand for 2020

PRICE DROP. An oil refinery. Photo from Shutterstock

Saudi says total oil curbs could reach 19.5 million barrels

Apr 14, 2020 - 8:15 PM

The Organization of the Petroleum Exporting Countries and its allies are cutting output to arrest the slump in oil prices

SET FOR IPO. A general view of Saudi Aramco's Abqaiq oil processing plant on September 20, 2019. File photo by Fayez Nureldine/AFP

China foreign trade drops as pandemic drags outlook

Apr 14, 2020 - 6:20 PM

An analyst warns that 'the worst is still to come for China's export sector' as the coronavirus ravages its trading partners

This aerial photo taken on April 14, 2020 shows containers stacked at a port in Lianyungang in China's eastern Jiangsu province. - China's foreign trade fell again in March even as businesses returned to work after the coronavirus outbreak, with the global pandemic weighing on the manufacturing powerhouse's outlook. (Photo by STR / AFP) / China OUT

Top oil producers agree on 'historic' cuts due to coronavirus crisis

Apr 13, 2020 - 8:10 AM

(UPDATED) In a compromise, major oil-producing countries agree to slash output by 9.7 million barrels per day starting May 1, down slightly from 10 million barrels per day envisioned earlier

A picture taken on September 15, 2019 shows an Aramco oil facility at the edge of the Saudi capital Riyadh. - Saudi Arabia raced today to restart operations at oil plants hit by drone attacks which slashed its production by half, as Iran dismissed US claims it was behind the assault. The Tehran-backed Huthi rebels in neighbouring Yemen, where a Saudi-led coalition is bogged down in a five-year war, have claimed thi weekend's strikes on two plants owned by state giant Aramco in eastern Saudi Arabia. (Photo by FAYEZ NURELDINE / AFP)

Nigeria hopes for $15 price rebound from oil cut deal

Apr 10, 2020 - 8:30 PM

Nigeria, Africa's most populous nation and biggest oil producer, is hoping for additional revenues once oil prices bounce back

A photo taken on February 23, 2018 shows the Egina FPSO berthed in Lagos harbour, Nigeria. - The Egina FPSO (Floating Production Storage and Offloading) unit is the largest FPSO ever installed in Nigeria and has the capacity to produce up to 200 000 barrels of oil per day. (Photo by Stefan HEUNIS / AFP)

Top oil producers except Mexico agree to output cuts – OPEC

Apr 10, 2020 - 3:35 PM

Oil output will be cut by 10 million barrels per day in May and June, though Mexico rejects its share of cuts, which would have been 400,000 barrels per day

OIL STORAGE. This photograph, taken on April 20, 2016, shows oil storage tanks on Jurong island off Singapore. Photo by Roslan Rahman/AFP

Produce-rich Argentina's exports ravaged by coronavirus

Apr 09, 2020 - 12:00 PM

Argentina is a land of plenty, but its export industry has been badly affected by the worldwide lockdown

(FILES) In this file photo taken on July 29, 2005 employees cut slaughtered and emptied cattle in half at the workers' cooperative meat processing plant Yaguane, in the Argentine province of Buenos Aires. - Argentine produces cereals, legumes, meats, fruits, all goods that will always be in demand. But the current coronavirus pandemic, which in April 2020 keeps half of humanity in confinement, has struck exports from Argentina, one of the world's largest food producers. (Photo by Daniel GARCIA / AFP)

Russia restricts grain exports amid pandemic

Apr 03, 2020 - 8:15 AM

Russia is the world's top wheat exporter. Its new restrictions apply to wheat, maize, barley, and rye, as well as a mixture of grains called meslin.

Farmers bring in the harvest with their combine harvesters on a wheat field in the southern Russian Stavropol region on July 9, 2014. AFP PHOTO / DANIL SEMYONOV (Photo by DANIL SEMYONOV / AFP)

Saudi oil supply hits record as price war rages

Apr 02, 2020 - 7:00 AM

On a single day, Saudi Aramco says it is 'breaking records to supply 15 tankers loading more than 18.8 million barrels of oil'

A handout picture provided by the Saudi Arabian Oil Company (Saudi Aramco) on April 1, 2020 shows Aramco tankers being loaded with oil at an undisclosed sea location. - Saudi Aramco supplies a record 18.8 million barrels of crude on a single day, escalating an price war with Russia while defying pressure from the United States. (Photo by - / Saudi Aramco / AFP) / RESTRICTED TO EDITORIAL USE - MANDATORY CREDIT "AFP PHOTO / SAUDI OIL COMPANY ARAMCO" - NO MARKETING - NO ADVERTISING CAMPAIGNS - DISTRIBUTED AS A SERVICE TO CLIENTS

Saudi to raise oil exports to record levels as price war rages

Mar 30, 2020 - 10:25 PM

(UPDATED) With oil prices already at 17-year lows, Saudi Arabia announces it is ramping up exports beginning May

OIL FACILITY. A general view of Saudi Aramco's Abqaiq oil processing plant on September 20, 2019. File photo by Fayez Nureldine/AFP

Oil storage buckles as coronavirus saps demand

Mar 27, 2020 - 5:35 PM

Despite the coronavirus pandemic, crude oil production continues at full steam, pushing storage capacity to its limits

(FILES) In this file photo taken on April 20, 2016 This photograph taken on April 20, 2016 shows oil storage tanks on Jurong island off Singapore. - Despite the coronavirus pandemic that is devastating the world economy and oil demand, crude oil production continues at full steam, particularly in Saudi Arabia and the United States, pushing storage capacity to its limits. (Photo by ROSLAN RAHMAN / AFP)

Crude reality: Price crash means oil firms must slash spending

Mar 22, 2020 - 3:00 PM

Cost cutting is inevitable for oil firms as prices continue to drop

PRICE DROP. An oil refinery. Photo from Shutterstock

Oil giant Aramco to tap inventories to raise output

Mar 16, 2020 - 11:35 PM

As a price war with Russia escalates, Saudi Aramco says it can keep up its new level of output for a sustained period

SET FOR IPO. A general view of Saudi Aramco's Abqaiq oil processing plant on September 20, 2019. File photo by Fayez Nureldine/AFP

Oil prices head for worst weekly loss in over a decade

Mar 13, 2020 - 3:52 PM

Crude prices fall more than 20% this week and are on course for their biggest weekly drop since the global financial crisis of 2008

PRICE DROP. File photo of an oil refinery. Shutterstock.com

Saudi, UAE open oil taps as they wage price war

Mar 11, 2020 - 11:15 PM

Saudi Arabia and the United Arab Emirates say they will together boost oil production by at least 3.5 million barrels per day, stepping up the price war against Russia

A picture taken on May 10, 2016 shows over Shaybah, the base for Saudi Aramco's Natural Gas Liquids plant and oil production in the surrounding Shaybah field in Saudi Arabia's remote Empty quarter desert close to the United Arab Emirates, on May 10, 2016. - Despite collapsed global oil prices, production is expanding at Shaybah, as it is in other units of the company at the centre of the kingdom's Vision 2030 drive for diversification away from oil. The Saudi government plans to sell less than five percent of the company in what officials say will be the world's largest-ever share offering, while transforming Saudi Aramco into "a global industrial conglomerate". By 2020 the company says it will have tripled its gas processing capacity from levels at the turn of the century. (Photo by IAN TIMBERLAKE / AFP)

OPEC chops oil demand forecast over coronavirus

Mar 11, 2020 - 10:30 PM

The Organization of the Petroleum Exporting Countries lowers its forecast for global average daily demand to 99.73 million barrels

Oil prices saw a record surge after attacks on two Saudi facilities in the world's top gas producer. Photo by DARREN LANGIT

Russia reaches out to OPEC as Saudi Arabia opens oil taps

Mar 11, 2020 - 2:30 AM

Russian Energy Minister Alexander Novak says Moscow remains open to cooperation with OPEC to stabilize the oil market

(FILES) In this file photo taken on December 07, 2018 (LtoR) Russian Minister of Energy of Russia Alexander Novak, Organization of the Petroleum Exporting Countries' (OPEC) President UAE Energy Minister Suhail al-Mazrouei and OPEC Secretary General Mohammed Sanusi Barkindo of Nigeria speak during a ministerial level meeting during with OPEC members and non members during the 175th OPEC Conference on December 7, 2018 in Vienna, Austria. - The OPEC club of oil-producing countries meets on March 2, 2020 in Vienna as they weigh how to react to a sharp drop in global oil demand due to the outbreak of the new coronavirus. (Photo by JOE KLAMAR / AFP)

Oil crash: Saudi Arabia's risky price war

Mar 10, 2020 - 9:45 AM

Here are some key questions surrounding the plunge in oil prices and the strategy driving Saudi Arabia, the world's top crude exporter

Saudi Arabia's Crown Prince Mohammed bin Salman attends a signing ceremony following a meeting of Russian President Vladimir Putin with Saudi Arabia's King Salman in Riyadh, Saudi Arabia, on October 14, 2019. (Photo by Alexey NIKOLSKY / SPUTNIK / AFP)

Oil price plunge: Winners and losers

Mar 10, 2020 - 9:05 AM

Who wins and who loses as oil prices plummet?

An employee wearing a facemask fills up a car at a gas station in Bangkok on March 9, 2020. - Equity markets collapsed March 9 as the rapidly spreading coronavirus fans fears over the global economy, while a crash in oil prices added to the panic with energy firms taking a hammering. (Photo by Mladen ANTONOV / AFP)

Oil falls most since Gulf War as Saudi starts price war

Mar 09, 2020 - 10:20 PM

Oil prices suffer their biggest drop in nearly 30 years on Monday, March 9, following Saudi Arabia's move to launch a price war against Russia

A foreign worker wearing a protective mask fills a car tank at a petrol station in Qatif city in the Eastern Province, some 400Km from the capital Riyadh, on March 9, 2020. - The Saudi Interior Ministry announced on March 8 the lockdown of Qatif, home to around 500,000 people, given the kingdom's 11 recorded cases of the new coronavirus are from the oil-rich Shiite stronghold. The decision is the first action of its kind across the Gulf region, which has confirmed more than 230 coronavirus cases, most of them people returning from religious pilgrimages to Shiite-majority Iran. (Photo by STR / AFP)

As demand crunch deepens, how far can oil plummet?

Mar 08, 2020 - 2:40 PM

With the slowdown in global growth caused by the coronavirus, market players expect the plunge in oil demand and prices to continue

A picture taken on September 15, 2019 shows an Aramco oil facility near al-Khurj area, just south of the Saudi capital Riyadh. - Saudi Arabia raced today to restart operations at oil plants hit by drone attacks which slashed its production by half, as Iran dismissed US claims it was behind the assault. The Tehran-backed Huthi rebels in neighbouring Yemen, where a Saudi-led coalition is bogged down in a five-year war, have claimed thi weekend's strikes on two plants owned by state giant Aramco in eastern Saudi Arabia. (Photo by FAYEZ NURELDINE / AFP)

China exports plunge on coronavirus epidemic

Mar 07, 2020 - 5:15 PM

China's exports from January to February 2020 fall 17.2% from a year ago, with the novel coronavirus hitting supply chains

TRADE WAR. This photo taken on June 24, 2019, shows containers at the Qingdao Port Foreign Trade Container Terminal in Qingdao, China. File photo by AFP

OPEC, allies fail to reach deal on oil production cuts

Mar 07, 2020 - 11:55 AM

Oil prices tumble further as OPEC and the so-called OPEC+ grouping end their meeting on Friday, March 6, without an agreement

A general view of Saudi Aramco's Abqaiq oil processing plant on September 20, 2019. - Saudi Arabia said on September 17 its oil output will return to normal by the end of September, seeking to soothe rattled energy markets after attacks on two instillations that slashed its production by half. The strikes on Abqaiq –- the world's largest oil processing facility –- and the Khurais oil field in eastern Saudi Arabia roiled energy markets and revived fears of a conflict in the tinderbox Gulf region. (Photo by Fayez Nureldine / AFP)

OPEC recommends 1.5-million-barrel output cut to allies

Mar 06, 2020 - 8:25 AM

OPEC nations, led by Saudi Arabia, agree to recommend 'a further adjustment of 1.5 million barrels per day' until June 30, 2020. It remains to be seen if their allies will agree.

Prince Abdulaziz bin Salman Al Saud (L), Minister of Energy, Industry and Mineral Resources of the Kingdom of Saudi Arabia arrives for the 178th Organization of Petroleum Exporting Countries (OPEC) meeting in Vienna, Austria, on March 5, 2020. - Delegates from oil-producing countries started arrived in Vienna to discuss output cuts in a meeting overshadowed by worries over the new coronavirus -- both its affect on oil prices as well as a big gathering like OPEC. (Photo by ALEX HALADA / AFP)

Oil output cuts: OPEC's double-edged sword

Mar 05, 2020 - 12:25 PM

OPEC's credibility rests on the commitment of member states to follow through on cuts

OIL FEARS. In this file photo taken on December 11, 2019, an oil tanker is docked at the port of Ras al-Khair, about 185 kilometers north of Dammam in Saudi Arabia's eastern province overlooking the Gulf. File photo by Giuseppe Cacace/AFP

Chinese virus-related slump to slash $50 billion in global exports – U.N.

Mar 05, 2020 - 11:55 AM

United Nations economists say manufacturing disruptions in China are 'expected to have repercussions elsewhere through regional and global value chains'

MANUFACTURING. Workers produce desks at a factory in Nantong in China's eastern Jiangsu province on September 4, 2019. File photo by AFP