Core Viewpoint - Mauritius continues to face significant structural pressures in foreign trade in 2025, with a high trade deficit and fluctuating export performance impacting overall trade balance [1] Trade Performance - The import scale remains high, primarily in food, fuel, and machinery sectors, while exports show volatility, constraining trade balance [1] - Monthly trade deficit has shown fluctuations but overall has expanded, with October 2025 trade deficit reaching 22.1 billion rupees, the highest in nearly ten months due to increased imports [1] - In June 2025, the trade deficit was 19.1 billion rupees, with imports at 28.4 billion rupees and exports at 9.3 billion rupees, indicating a significant imbalance [1] - July 2025 saw a reduction in trade deficit to 14.5 billion rupees compared to June, although June exports experienced a year-on-year decline [1] Economic Outlook - The GDP growth rate for 2025 is projected at approximately 3.2%, indicating moderate growth [1] - Tax revenue from products is expected to increase, reaching 105.7 billion rupees for the year, a year-on-year growth of 12.1%, providing fiscal support to the government [1] - Private investment has declined, and public debt remains high, approximately 89.3% of GDP as of the end of September 2025, highlighting ongoing risks [1] Overall Assessment - 2025 is characterized as a transitional phase for Mauritius's foreign trade and economic operations, with tax revenue growth and moderate economic expansion offering some policy adjustment space [1] - Continuous reforms are necessary in export structure, competitiveness enhancement, and deficit financing management to alleviate long-term pressures from trade imbalances [1]

该报告对全球101个经济体进行了评估，摩以63.44的得分(满分100分)高于全球平均水平(60.11)，且远超 非洲(50.87)和阿拉伯(58.31)国家平均水平。在此次评估中，60%的国家人均收入高于摩，使得摩取得该 成绩尤为难得。摩在五个关键领域表现最为突出：公共事业服务(80.05)、国际贸易(74.5)、开办企业 (73.95)、企业正规化(73.82)以及金融服务(68.24)。这反映了政府推行的改革以及为改善营商环境而实施 的2023-2026年路线图取得实质成效。此外，摩在运营效率、劳动力市场改善和商业纠纷解决等方面仍 具有较大提升空间。 摩洛哥Hespress网站1月5日报道，根据世界银行最新发布的《营商环境报告》，摩洛哥在非洲和阿拉伯 国家中排名第二。 ...

三是支持出口商。通过出口培训、资金援助、国际标准合规指导及组织贸易代表团出访等方式，帮助 400家缺乏独立出口资源的中小型企业进入国际市场，扩大生产规模并提升国际竞争力。 四是提升创新与竞争力。推动关键领域创新和生产力提升，通过采用新技术和提升产品质量以达到国际 标准，提升国际竞争力，在汽车和农产品加工业等领域价值链中向上攀升。 摩洛哥世界新闻网站1月6日报道，摩洛哥工业与贸易部负责外贸事务的国务秘书奥马尔.海吉拉周一在 众议院表示，政府将实施"五点战略"(Five-Point Strategy)，以促进出口和贸易多元化，减少不断扩大的 贸易逆差。 一是产品多样化。扩大出口商品和服务种类，增加高附加值产品、加工产品及先进技术工业品供应，拓 展新市场，减少对磷酸盐、纺织品和汽车零部件等传统出口产品的过度依赖。 二是市场多元化。摩近70%的出口商品流向欧洲国家(主要是法国和西班牙)，使得经济易受欧盟需求变 化和贸易壁垒等外部因素影响。政府寻求开拓非洲、亚洲和美洲市场，减少对欧依赖，打造更强大、更 具韧性的出口基础。 五是物流与贸易便利化。加强港口、机场和交通互联互通，简化出口文件，支持数字贸易平台，确保货 物能够 ...

Group 1 - The European Union has relied on public subsidies for its tuna industrial fishing fleet for the past 45 years, allowing it to operate in the waters of southern countries, particularly along the African coast, while transferring economic, social, and ecological risks to these countries [1] - From 2010 to 2023, the EU invested approximately €2.1 billion in the tuna fishing sector, primarily for fuel tax exemptions, fleet modernization, and access fees for fishing in third countries' exclusive economic zones [2] - The EU's tuna fishing agreements with African countries have resulted in significant public funding, with about 73% of EU external fisheries subsidies directed towards Mauritania and Morocco, where Morocco alone received over €1.5 billion [3] Group 2 - The fishing agreements have provided short-term fiscal revenue for some African countries but have also created structural issues, such as competition with traditional fisheries, undermining local livelihoods and food security [3] - The EU's long-term financial support for its distant-water fishing fleet has contributed to global overcapacity in fisheries, conflicting with sustainable fisheries management goals advocated by the international community [4] - The ongoing reforms in fisheries subsidies promoted by the World Trade Organization present an opportunity for African coastal countries to reassess the true value of their fisheries resources and seek fairer revenue distribution [4]

Core Viewpoint - Guizhou Tyre (000589) has announced a $300 million investment to build a factory in Tangier Tech City, Morocco, with an annual production capacity of 6 million semi-steel radial tires [1] Group 1: Company Investment - The investment of $300 million by Guizhou Tyre signifies a strategic move to expand its manufacturing capabilities in Morocco [1] - The new factory will produce 6 million semi-steel radial tires annually, enhancing the company's production capacity [1] Group 2: Industry Implications - This investment indicates that Morocco is increasingly attracting leading companies in the automotive heavy components sector [1] - The establishment of the factory is expected to help extend the automotive industry chain in Morocco towards higher value-added segments [1] - The move will optimize Morocco's industrial structure and improve the localization level of the industry chain [1]

据欧盟统计局1月7日初步数据显示，2025年12月份欧元区通胀率为2%。从品类看，服务业涨幅为 3.4%，食品、酒精和烟草涨幅为2.6%，非能源工业品涨幅为0.4%，能源价格同比下降1.9%。 欧元区成员国中，12月份爱沙尼亚和斯洛伐克的通胀率为4.1%，居欧元区之首；其次是奥地利和克罗 地亚，分别为3.9%和3.8%；塞浦路斯的通胀率最低，为0.1%。 ...

Core Insights - The real estate market in Tallinn, Estonia is projected to see a total of 9,009 apartment transactions in 2025, representing a year-on-year increase of 7.5% [1] - New apartment sales are expected to reach 1,515 units, marking a significant year-on-year growth of 22.7% [1] - The average price for newly sold apartments is estimated at €4,537 per square meter, reflecting a year-on-year increase of 2.3% [1]

（原标题：智利圣地亚哥航空货运成本上升导致货运量下降） 智利《金融日报》1月2日报道，根据智利民航局（JAC）发布的报告，截至2025年前11 个月，智利航空货运量累计同比下降3.8%，智利航空货运成本大幅上涨，在拉美地区 的货运竞争力有所下降。智利航空公司协会表示，圣地亚哥机场的特许运营商设定了 新的收费标准和附加费用，并开始对停机坪上的设备收取租赁费，导致出口成本大幅 上升，三文鱼、水果等出口商开始选择其他替代路线，如经过阿根廷布宜诺斯艾利 斯、巴西圣保罗或乌拉圭蒙得维的亚等地机场向其他地区出口新鲜产品。 ...

Core Viewpoint - Chile's economic activity index (Imacec) for November 2025 grew only 1.2% year-on-year, falling short of market expectations, primarily due to declines in mining (especially copper extraction) and electricity production [1] Economic Performance - The overall economic vitality in Chile remains insufficient, with cumulative growth of 2.3% for the first eleven months of 2025 [1] - The Chilean Treasury's annual growth target of 2.5% is now at risk, requiring a significant economic growth of 3.8% in December to meet this goal, which is considered challenging [1]

Core Insights - The Dubai real estate market is expected to enter a critical transformation phase in 2026 after a period of rapid growth [1] - In the first half of 2025, the transaction volume exceeded 431 billion dirhams, marking a 25% year-on-year increase [1] - The delivery of approximately 120,000 new homes may lead to a mild market adjustment, with increasing differentiation across different regions [1] - Enhanced regulations, the pilot of real estate tokenization, and infrastructure development are anticipated to be new variables influencing the market [1] - The focus of real estate is shifting from short-term trading to long-term asset allocation [1]