TRADE X Opens New Automotive Trading Facilities in Kenya

TRADE X Opens New Automotive Trading Facilities in Kenya

December 9th, 2022 Tim Jay Leave a comment

The TRADE X global automotive trading platform creates a strategic hub in Kenya, which will serve automotive dealers within key East African countries

TRADE X, a B2B cross-border automotive trading platform based in Ontario, Canada, today announced that it has opened a new Kenyan trading corridor, which includes both a shared bonded warehouse in Mombasa and an office in Nairobi, as the company expands its reach across the African continent.

TRADE X provides auto dealers, car rental companies, fleet owners and mobility solution providers with a seamless end-to-end process for the sourcing and distribution of cross-border vehicle inventory. With the highest GDP in East Africa, Kenya serves as a strategic location, providing a direct-access route to trade with landlocked countries such as South Sudan and Uganda, where it is legal to drive vehicles registered in neighboring countries.

Over the past few months, TRADE X has focused on developing a presence in Kenya and building broader trust within the automotive industry. In May, TRADE X began buying and shipping inventory to Kenya as the company works toward making right-hand drive vehicles available on its platform.

In Kenya, the bulk of automobiles originate in Japan. Unlike other African markets, Kenya has strict import requirements. Vehicles must not be older than seven years, and cars must pass an inspection process before being shipped into the country. Vehicles that are shipped to Kenya without first passing an inspection are destroyed.

TRADE X is focused not only on tapping into the supply coming out of Japan, but to opening new trade routes between Kenya and countries such as the U.K, Australia, Thailand, South Africa, Singapore and the United Arab Emirates.

In Kenya, popular automotive brands include Toyota, Honda, Mazda, Nissan and Subaru. TRADE X is looking to further expand the variety of makes and models available to Kenyan car buyers.

Interested automotive dealers in West Africa can sign up at tradexport.com to begin procuring vehicles, accelerating inventory turnover and driving revenues.

The company’s AI-driven ‘Brain’ software provides dealers, fleet owners, and mobility solutions providers first-ever support in all aspects of vehicle trading. This includes trade financing, compliance, customs requirements, international payments processing, vehicle inspections, digital trade documentation, and homologation. TRADE X provides peace of mind and security for users, whether they are trading within their own continent or overseas. TRADE X simplifies the experience and ensures each transaction is transparent, compliant, insured, and monitored from start to finish.

About TRADE X

With headquarters in Ontario, Canada, TRADE X is the first global vehicle marketplace to aggregate cross-border supply and demand for car dealers, fleet owners, rental companies, mobility solution providers, importers, and exporters, opening new trading corridors to buy and sell vehicles. The TRADE X ‘Brain’ platform is a machine-learning, AI-driven technology that connects buyers and sellers through a transparent marketplace that aids sellers in finding the world’s highest bidders and gives buyers access to the best vehicle source markets and price arbitrage opportunities. Users can quickly and seamlessly transact online in a secure environment with all the complexities of international trade – compliance, anti-money laundering regulations, vehicle inspection, currency exchange, digital trade documentation, payments, and financing – all managed by TRADE X. The company serves authorized buyers and sellers everywhere with a user-friendly app available 24/7 via mobile, tablet, or desktop. TRADE X’s largest investors include Aimia Inc., a publicly traded holding company listed on the Toronto Stock Exchange (TSX: AIM).

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Global Chlorine Trade Totaled $160M

April 17th, 2020 IndexBox Leave a comment

IndexBox has just published a new report: ‘World – Chlorine – Market Analysis, Forecast, Size, Trends And Insights’. Here is a summary of the report’s key findings.

Global Chlorine Exports 2014-2018

In 2018, the global exports of chlorine totaled 547K tonnes, going down by -9.6% against the previous year. Overall, chlorine exports continue to indicate a slight setback. The most prominent rate of growth was recorded in 2016 with an increase of 5.7% against the previous year. The global exports peaked at 605K tonnes in 2017, and then declined slightly in the following year.

In value terms, chlorine exports stood at $160M (IndexBox estimates) in 2018.

Exports by Country

In 2018, Canada (157K tonnes), distantly followed by France (82K tonnes), the U.S. (51K tonnes) and Romania (32K tonnes) were the largest exporters of chlorine, together making up 59% of total exports. Mexico (24K tonnes), Germany (23K tonnes), Thailand (19K tonnes), Poland (19K tonnes), Japan (14K tonnes), South Korea (12K tonnes), Austria (11K tonnes) and Colombia (11K tonnes) followed a long way behind the leaders.

From 2014 to 2018, the most notable rate of growth in terms of exports, amongst the main exporting countries, was attained by Japan, while exports for the other global leaders experienced more modest paces of growth.

In value terms, the largest chlorine supplying countries worldwide were Canada ($31M), the U.S. ($20M) and France ($14M), together accounting for 41% of global exports.

The U.S. recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while exports for the other global leaders experienced more modest paces of growth.

Export Prices by Country

In 2018, the average chlorine export price amounted to $292 per tonne, growing by 12% against the previous year. Over the last four-year period, it increased at an average annual rate of +1.7%. Prices varied noticeably by the country of origin; the country with the highest price was Japan ($898 per tonne), while Romania ($102 per tonne) was amongst the lowest.

From 2014 to 2018, the most notable rate of growth in terms of prices was attained by Germany, while the other global leaders experienced more modest paces of growth.

Imports by Country

The U.S. represented the major importer of chlorine imported in the world, with the volume of imports reaching 189K tonnes, which was approx. 33% of total imports in 2018. Germany (63K tonnes) ranks second in terms of the total imports with a 11% share, followed by Mexico (7.5%), Hungary (5.6%) and Switzerland (4.6%). The following importers – Malaysia (16K tonnes), Taiwan, Chinese (13K tonnes), Belgium (11K tonnes), China (11K tonnes), the Philippines (10K tonnes), Italy (10K tonnes) and Portugal (9.3K tonnes) – together made up 14% of total imports.

From 2014 to 2018, average annual rates of growth with regard to chlorine imports into the U.S. stood at -3.3%. At the same time, Mexico (+83.9%), Malaysia (+59.4%), China (+35.3%), Taiwan, Chinese (+24.7%), Germany (+16.6%), Portugal (+16.2%) and the Philippines (+2.5%) displayed positive paces of growth. Moreover, Mexico emerged as the fastest-growing importer imported in the world, with a CAGR of +83.9% from 2014-2018. By contrast, Hungary (-7.1%), Belgium (-8.5%), Switzerland (-9.4%) and Italy (-12.2%) illustrated a downward trend over the same period. While the share of Mexico (+6.9 p.p.), Germany (+5.1 p.p.) and Malaysia (+2.4 p.p.) increased significantly in terms of the global imports from 2014-2018, the share of Hungary (-1.9 p.p.), Switzerland (-2.2 p.p.) and the U.S. (-4.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the U.S. ($37M) constitutes the largest market for imported chlorine worldwide, comprising 21% of global imports. The second position in the ranking was occupied by Germany ($13M), with a 7.4% share of global imports. It was followed by Mexico, with a 7.1% share.

From 2014 to 2018, the average annual rate of growth in terms of value in the U.S. stood at +1.3%. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+13.5% per year) and Mexico (+57.2% per year).

Import Prices by Country

The average chlorine import price stood at $307 per tonne in 2018, growing by 4.3% against the previous year.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was China ($981 per tonne), while Hungary ($83 per tonne) was amongst the lowest.

From 2014 to 2018, the most notable rate of growth in terms of prices was attained by the Philippines, while the other global leaders experienced more modest paces of growth.

Source: IndexBox AI Platform

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The Countries Leading the Way in the Future of Production

December 31st, 2019 RS Components Leave a comment

The First Industrial Revolution dates back to the 18th century, with the manufacturing and production process evolving significantly to improve efficiency. Since then, the world has gone through a series of changes with the present-day seeing us in full swing of the world’s Fourth Industrial Revolution.

Using data from the World Economic Forum’s ‘Readiness for the Future of Production’ report, RS Components have taken a look at the countries that are leading the way when it comes to driving production forward. The six main drivers are ‘Technology & Innovation’, ‘Human Capital’, ‘Global Trade & Investment’, ‘Institutional Framework’, ‘Sustainable Resources’, and ‘Demand Environment’. See how each country compares when it comes to being ready to produce more products, technologies, and goods here.

The 21st century is a truly digital age, with technology now intertwined and cemented into both our personal and professional lives. Over the last two decades, in particular, technology has become increasingly advanced and has seen the emergence of the Fourth Industrial Revolution. Complicated and impressive technologies such as artificial intelligence (AI), robotics, the Internet of Things (IoT), 3D printing, genetic engineering, and quantum computing have all emerged and are being used across the globe in a variety of industries, businesses and processes.

As a result of the new technological age, the speed, efficiency, and accuracy of production levels have improved astronomically, with less room for human error as machinery takes over, making production levels much faster and hassle-free.

With the rise of these advancements, it is important for countries and businesses across all industries to be tapping into these changes to keep up with the future of production. But which countries are leading the way?

RS Components have produced a graphic analyzing data from the World Economic Forum’s Readiness for the Future of Production report, to reveal the countries leading the way when it comes to driving production forward. With each country analyzed by a series of metrics including global trade and investment, institutional framework, sustainable resources, demand environment, and emerging technologies, the top 10 countries leading production levels forward have been scored out of 10.

The top 10 countries driving the future of production include:

The US takes the crown as the leading country in the world driving the future of production forward. Scoring at the top of the leaderboard across all metrics excluding Sustainable Resources and Institutional Framework, the US holds an overall score of 8.16 out of 10. The US is renowned for its innovation and holds an advanced, connected and secure technological platform that allows production to drive forward in the most efficient way possible.

Singapore ranks as the second country driving the future of production and the UK sits at fourth place with a score of 7.84. Singapore sits as one of the world’s leading chemical manufacturing sites, with over 100 global petroleum, petrochemical and specialty chemical companies situated on 12 square miles of land. Singapore today sits as the world’s fifth-largest refinery export hub and amongst the top 10 global chemical hubs by export volume. Involved in these systems includes advancements in manufacturing from robots, to predictive analytics and artificial intelligence. Singapore, like the US, is a key driver in testing, experimenting and trialing the latest technologies. In addition, manufacturing continues to contribute around 20% to Singapore’s GDP.

The importance of having the right technological foundations

In order for production levels to thrive, it is crucial that technological foundations are cemented in supply chains across the globe. For example, in a warehouse, the speed and availability of the internet is crucial when the Internet of Things is being adopted on the factory floor. In addition, it is also greatly important for businesses and industries to have strong, connected cybersecurity systems to ensure digital security is maintained to a high standard. Having the technological foundations of this, like the US, allows the nation to drive forward technologies to increase production levels.

In addition, in order to ensure these new innovations are implemented effectively, it is crucial that employees have a good understanding of the technology they are interacting with on a daily basis, as the skills required of workers will evolve with the new advancements.

Combined, industries and countries will be able to adapt rapidly emerging technologies into their production lives, which will have a global impact on both businesses and consumers across the world.

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U.S. Broadwoven Fabric Imports Bounced Back in 2018 Due to Rising Supply from India

September 25th, 2019 IndexBox Leave a comment

IndexBox has just published a new report: ‘U.S. Broadwoven Fabric Market. Analysis And Forecast to 2025’. Here is a summary of the report’s key findings.

The revenue of the broadwoven fabric market in the U.S. amounted to $3.6B in 2018, remaining constant against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers’ margins, which will be included in the final consumer price). Over the period under review, broadwoven fabric consumption continues to indicate a measured drop. The growth pace was the most rapid in 2014 with an increase of 3.7% y-o-y. In that year, the broadwoven fabric market attained its peak level of $4.3B. From 2015 to 2018, the growth of the broadwoven fabric market remained at a somewhat lower figure.

Broadwoven Fabric Production in the U.S.

In value terms, broadwoven fabric production amounted to $3.5B in 2018. In general, broadwoven fabric production continues to indicate a measured downturn. The most prominent rate of growth was recorded in 2014 with an increase of 3.9% against the previous year. In that year, broadwoven fabric production reached its peak level of $4.1B. From 2015 to 2018, broadwoven fabric production growth failed to regain its momentum.

Exports from the U.S.

In 2018, the amount of broadwoven fabric exported from the U.S. stood at 251 tonnes, shrinking by -56.1% against the previous year. Over the period under review, broadwoven fabric exports continue to indicate a drastic contraction. The most prominent rate of growth was recorded in 2017 with an increase of 191% year-to-year. In that year, broadwoven fabric exports reached their peak of 571 tonnes, and then declined slightly in the following year.

In value terms, broadwoven fabric exports amounted to $2.8M (IndexBox estimates) in 2018. Over the period under review, broadwoven fabric exports continue to indicate a drastic shrinkage. The pace of growth was the most pronounced in 2017 with an increase of 100% year-to-year. In that year, broadwoven fabric exports attained their peak of $5.2M, and then declined slightly in the following year.