ssing the USD 89.45 billion that was forecast. Imports of goods jumped USD 18.6 billion to USD 281.5 billion, while goods exports dipped USD 0.1 billion to USD 178.0 billion. An ebb in import flows in Q2 led to a sharp contraction in the trade deficit, which added a record 4.95 percentage points to GDP growth that period, when the U.S. economy grew at a 3.3% annualized rate. GDP had previously contracted at a 0.5% rate in the January-March quarte...

News  Updated at: 2025/08/30

s. On trade, MSIL welcomed India’s free trade agreement with the UK, calling it a template for future pacts to support exports and production growth. MSIL highlighted continued weak growth in India’s car market, citing stricter emission and safety norms, including BS 6. Despite India’s strong GDP growth, car ownership remains low. It noted that this muted growth is happening as the small car segment, a historical industry driver, continues ...

News  Updated at: 2025/08/06

hospitals, medical colleges, shopping complexes, hypermarkets, warehouses, office spaces, community centres, banks, and financial institutions. The 335-acre project is set to attract around USD 10 billion in investment and, once operational, is expected to contribute USD 5-6 billion to the UAE’s GDP while generating approximately 4,000 jobs in Ras Al Khaimah Economic Zone (RAKEZ). Based on Erisha Smart Manufacturing Hub- RAKEZ's social media ...

News  Updated at: 2025/08/06

domino effect. This strategic engagement forms part of the Indonesian government’s ongoing efforts to strengthen industrial diplomacy, promote a favorable investment climate, and safeguard the sustainability and global competitiveness of the automotive industry, a key contributor to Indonesia’s GDP and manufacturing exports. (From Indonesia's Ministry of Industry social media updates)...

News  Updated at: 2025/07/15

nties, and outcomes of negotiations on trade tariffs imposed by the U.S. that have an adverse impact on the overall local economy are expected to weigh on Malaysia’s economic growth and have an adverse impact on the broader automotive market. While the Philippine market continues to post moderate GDP gains, the overall automotive sector faces slower momentum due to inflationary pressures, subdued global demand, and intensified competition from ...

News  Updated at: 2025/06/18

division (Vehicles Assembly, Manufacturing, Distribution & After-Sales Services) dropped 1.5% to MYR 530.5 million. Looking ahead, Tan Chong remains focused on recovery amid global uncertainties and a projected decline in Malaysia’s auto market, supported by resilient domestic demand and positive GDP forecasts. Strong early sales of the Nissan Kicks e-POWER and the upcoming TQ Wuling Bingo EV reflect its EV push.  In Vietnam, GAC models, notab...

News  Updated at: 2025/05/26

Thai OIE reveals strategic industrial restructuring to address U.S. tariff threats Reported on May 26, 2025, Thailand’s Office of Industrial Economics (OIE) warned that new US tariffs could cut the country’s industrial exports by around THB 200 billion in 2025, slowing industrial GDP growth by over 1 percentage point.  To counter this, the OIE is accelerating the restructuring of 9 key sectors, including automotive, which plays a major role ...

News  Updated at: 2025/05/26

osystem. Backed by multi-billion-dirham investments from global industry leaders, the programme aims to transform Abu Dhabi into the region’s leading hub for smart automotive manufacturing, R&D, auctions, and luxury vehicles. The program is projected to contribute AED 100 billion to Abu Dhabi’s GDP by 2045, attract over AED 8 billion in FDI, and create 7,000 high-skilled jobs. The inclusion of advanced R&D and engineering centres, as well as ...

News  Updated at: 2025/05/26

dustry. Sales have dropped in the first three months of 2025, with major markets such as Germany, Italy, and France all recording negative growth. The recovery seen in 2023 has stalled and the region is now experiencing a downturn. Economic conditions are a major factor behind the decline. Eurozone GDP remains sluggish, and high inflation persists, leaving the European Central Bank (ECB) facing increasing uncertainty regarding its monetary policy...

News  Updated at: 2025/05/08

also gain staged access to the UK market under a quota-based framework.  The FTA also allows UK automotive and clean energy firms access to India’s GBP 38 billion central procurement market. The agreement aims to increase bilateral trade by GBP 25.5 billion annually and is projected to raise UK GDP by GBP 4.8 billion in the long term. Once ratified, both countries are expected to implement the deal following legislative approvals. Based on th...

News  Updated at: 2025/05/07

llaboration between IEAT and Araya Land Development Co., Ltd. on the establishment of the Araya Industrial Estate in Samut Prakan Province. This will be the 73rd industrial estate under IEAT's supervision, designed to support emerging industries and contribute to the growth of Thailand's industrial GDP.The project aims to attract investment in key sectors such as semiconductors, electronics, electric vehicles (EV), and data centers. Factories wit...

News  Updated at: 2025/05/02

4.73 billion. According to an annex in an executive order issued by President Trump, the reciprocal tariff rate on Thai exports stands at 37%, effective on April 9.Coupled with the recent earthquake, the UTCC said Thailand’s total economic losses are estimated at THB 375 billion, translating to a GDP contraction of approximately 2.02%. Consequently, the UTCC has revised its 2025 GDP growth forecast down to 1%. Local experts are urging the Thai ...

News  Updated at: 2025/04/04

in the overall market and is expected to continuously and steadily raise the penetration rates. The joint effect of the policies for large-scale equipment replacement and consumer goods trade-in further stimulated the release of terminal demand. China’s 2025 Government Work Report sets the annual GDP growth rate target at around 5%. The automotive industry, a national pillar industry, will see promising annual sales growth. Also proposed in the...

News  Updated at: 2025/03/25

deration of Thai Industries (FTI), in 2024, the total value of exports of CBU cars, engines, other auto parts, auto spare parts, motorcycles and its parts/spare parts stood at THB 1,021,015.12 million, down 2.4% YoY. TAPMA said the automotive and parts exports contributed around 12% of Thailand’s GDP in 2024. (From TAPMA release on March 11, 2025 and the Royal Thai Government release / the FTI release)...

News  Updated at: 2025/03/12

effect on March 12, could impact Mexico’s exports to the United States by approximately USD 22.53 billion. According to an analysis by the Mexican Institute for Competitiveness (IMCO), these tariffs will affect 4.7% of Mexico’s total exports, equivalent to more than 1.5% of the country’s 2024 GDP. The most impacted sectors include iron, steel, and aluminum, classified under tariff chapters 72, 73, and 76. However, the proclamation’s annex...

News  Updated at: 2025/02/27

c injection parts, Obeikan Glass Company, and Abdul Latif Jameel Enterprises (ALJ) to produce alloy wheels. Ceer Further announced that over the next decade, it will create up to 30,000 jobs and attract USD 150 million in foreign direct investment. It will contribute USD 8 billion to Saudi Arabia's GDP by 2034. Based on Ceer social media updates/ multiple sources ...

News  Updated at: 2025/02/13

e official name of the cluster for automotive manufacturing activities, located within King Abdullah Economic City (KAEC). It will play a key role in Saudi Arabia’s economic diversification, boosting the automotive sector and sustainable transportation, while contributing to the growth of non-oil GDP and exports. It will host notable companies including Ceer, and Lucid Motors, several PIF joint projects with global manufacturers, including Hyun...

News  Updated at: 2025/02/07

Toyota expects Philippines’ auto sales to hit record-high of 512,000 units in 2025 Reported on February 3, 2025, Toyota Motor Philippines Corp. (TMP) believed that a favorable macroeconomic outlook may drive vehicle sales in the Philippines to hit a record-high of 512,000 units in 2025, or an 8% growth YoY. TMP said GDP is expected to exceed 6%. The financial sector remains sound with a growing consumer loan portfolio. OFW (overseas Filipino wo...

News  Updated at: 2025/02/05

) sales included in the commercial vehicle sales were down 34.7% to 14,435 units. The difficulty in getting auto loans approved under financial institutions’ strict conditions is still the key reason for the sales decline. Thailand’s economic growth slowed. The household debt ratio was 89.6% of GDP (as of Q2/2024), while non-performing loans in the automotive sector continued to increase. The FTI added that a satisfying number of car bookings...

News  Updated at: 2024/12/27

In January - November 2024, vehicle sales reached 518,659 units, down 26.7% YoY. The difficulty in getting auto loans approved under financial institutions’ strict conditions is still the key reason for the sales decline. Thailand’s economic growth slowed. The household debt ratio was 89.6% of GDP (as of Q2/2024), while non-performing loans in the automotive sector continued to increase. The FTI added that a satisfying number of car bookings...

News  Updated at: 2024/12/24