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August 2014 Economic Digest - Importing and Exporting

August 2014 Edition

DOMAINS

European wine producers together with their Californian and Australian counterparts are fighting a rearguard action to prevent the introduction of internet domain names such as .vin and .wine. Producers of fine wines argue that making these names available could make it easier for unscrupulous companies to pass off inferior wines such as Champagne, or Napa Valley sparkling wines. European wine producers are prepared to boycott the new domain names if they are introduced saying that protecting wine-growing place names is critical to all wine-growing regions of quality.

PHONES

More than one in five households in Canada have cell phones as their only form of telephone service. In 2013, 21 per cent of households reported using a cell phone exclusively, up from 13 per cent in 2010. This is more pronounced in young households where all of the members are under 35 years of age. Total cell phone usage, whether used exclusively or in a combination with other types of phone service, continues to grow in popularity in Canada. In 2013, 83 per cent of Canadian households had an active cell phone, up from 78 per cent in 2010. The province with the highest proportion of cell phone users was Alberta with 91 per cent and the lowest was Quebec with 76 per cent.

LABELS

Consumer demand for more natural, environmentally friendly and socially-responsible food has proliferated. More than ever, consumers want to know exactly what is in their food, and they are turning to food labels to provide this information. When shopping for foods, according to Consumers Reports, two-thirds of Americans are checking to see if their food is locally produced. The majority of consumers (59 per cent) are also checking to see if their food is natural. Consumers are less likely to look for fair-trade (31 per cent of consumers), animal welfare (36%), antibiotic (39%) and non-GMO (40%).

KOI

Japanese Koi fish have been found in Boundary Dam in Estevan, Saskatchewan. They are not native to the province and are causing problems. The government which has known about the Koi since 2010 speculate that they were dumped into the Dam. The fish uproot submerged vegetation that can impact how other fish and other aquatic species do as they depend on the aquatic vegetation. Koi fish are also known for stirring up sediment and eating the eggs of other fish. There does not appear to be a feasible method that is environmentally friendly of getting rid of the Koi.

CONSUMERS

Online shoppers in the UK now have longer to cancel orders under new laws. The cooling-off period for an online order has been extended to 14 calender days from seven working days. Shoppers can now claim a full refund during this period without having to give a reason for the cancellation.

CODES

Doctors in the US complain that errors in how they code treatments are often mistaken for fraud and that the automation of claims-monitoring could make this worse. Next year, Medicare will have 140,000 different codes, including nine for injuries caused by turkeys. (Was the victim struck or pecked? Once or more often? Did she suffer negative after-effects? And so on). Many clinics have fallen under suspicion and had payments suspended, only to win a reprieve when the facts are studied closely. This could make many doctors reluctant to take Medicare patients.

DRINKS

Just as Russia has its vodka, Mexico its Tequila and Scotland its Scotch, China has its Baijiu. It is the world’s biggest-selling spirit category and represents a US$23-billion market. Producers are now seeking new markets in the US and Europe as sales fall in China after a crackdown on wasteful spending. The Chinese white spirit is distilled from sorghum, wheat or rice and accounts for more than one-third of all the spirits consumed in the world because China is the leading spirit consuming nation. Baijiu can trace its history to the first century BC. Experts say western palates may need some training to appreciate the product which some have compared to drinking paint thinner.

COAL

Power plants fired by coal in the US will be hit hardest by an Environmental Protection Agency plan to cut carbon dioxide emissions from existing power stations by 30 per cent from their 2005 levels by 2030. Industry groups are already lining up to object with the US Chamber of Commerce warning of a US$51-billion annual hit to the economy from higher energy bills. However, if that estimate is accurate it would still represent only about 0.3% of the annual US GDP. It also ignores the environmental and medical benefits of reducing the use of coal which pumps out double the carbon dioxide of natural gas when burned and contributes to smog and respiratory problems.

HOGS

Iconic motorbike manufacturer Harley Davidson, has revealed its first electric motorcycle. The bike will not go on general sale, instead the company will select customers from the US to ride it and provide feedback. The bike will travel down the US’s Route 66 visiting more than 30 Harley Davidson dealerships between now and the end of the year.

FAIRTRADE

A new British report from the School of Oriental and African Studies (SOAS) says that coffee drinkers who choose brands carrying the Fairtrade label are not helping the poor and the “ethical trading” claims made by fair-trade organizations are hollow. The researchers investigated labour markets for export crops in Uganda and Ethiopia, The report’s conclusions will come as a shock to consumers in rich countries who pick brands carrying the Fairtrade logo, supposedly supporting the earnings of family farms and small-holders by paying of a “Fairtrade premium” helping them compete in a world dominated by large plantations. The SOAS researchers are urging Fairtrade organizations to improve their audit procedures and establish minimum wage standards.

TOURISTS

Visitors to Scotland spent 20 per cent more last year than in 2012, a bigger increase than London and the UK as a whole. The number of visitors was up 9.8- per cent to 2.44-million, spending a total of US$3.36-billion. Edinburgh was the biggest draw with 1.3-million people staying one night or more in the city, second only to London. A further increase is expected for 2014.

BLEEDING

A Canadian trauma specialist and an armed forces surgeon has developed a new tool for first responders. It looks like a futuristic hair clip and is about the size of a child’s hand-held toy. It looks innocent except for the eight needles protruding from the clamp. The iTClamp is specially designed to close a wound in a way that is so simple, anyone can do it. Instead of applying a complicated tourniquet with the right amount of pressure, let alone performing the long and complicated process of stitching a profusely bleeding wound, the clamp can be placed simply over the injury and squeezed together. This closes the wound and takes about three seconds to apply. The device has been approved by Health Canada for more than a year and a half, by the US Food and Drug administration for a year and by Europe for about 15 months.

UBER

The next big thing in the tech world is forecast to be Uber which has raised US$1.2-billion in capital from private investors, giving it an estimated market value of $17-billion. Uber’s limousine and car-sharing services operate in 128 cities in 37 countries through its app. which is a challenge to licensed taxi services. There have been protests by European taxi drivers in Paris and London, angry at what they say is unfair competition from Uber’s unregulated service.

FISH

Deforestation is reducing the amount of leaf litter falling into rivers and lakes, resulting in less food being available to fish, a new study claims. Researchers found that the amount of food available affected the size of young fish and influenced the number that went on to reach adulthood. The results illustrate a link between watershed protection and healthy freshwater fish populations. A team of scientists from Canada and the UK collected data from eight locations with varying levels of tree cover around Daisy Lake in Canada which forms part of the boreal ecosystem.

GOLF

Golf, which usually rides out a recession because so many players are affluent is one of the last victims of the financial crisis. In the US, an estimated five million fewer people play the game at least once a week than a decade ago. A similar measure in England shows a 16 per cent drop in the same period. In Canada the number of occasional golfers is down 17 per cent and those classed as playing infrequently have plunged 49 per cent according to a 2012 study. It is estimated that golf accounts for C$11.3-billion worth of Canada’s GDP. The combined revenues of $4.7-billion produced by golf courses, driving ranges and the like nearly matched the total of all other sports and recreational activities.

MIGRAINES

An estimated 2.7-million Canadians, or 8.3 per cent of the population have been diagnosed with migraine, a debilitating disorder characterized by pulsating headaches that can last for a few hours to several days, often accompanied by nausea and sensitivity to light and sound. Females were more than twice as likely as males to report migraines, 11.8 per cent versus 4.7. For both sexes, migraine was most common in ages 30 to 49. Compared with the national figure, the prevalence of migraine was lower in Quebec, (6.8 per cent) and higher in Manitoba (9.5), Nova Scotia (9.1) and Ontario, (8.8).

QUALITY

Canadian workers are winning a reputation for building quality vehicles. A Toyota plant in Cambridge, Ontario led the global rankings in the widely watched annual survey by J.D. Power and Associates that measures vehicle quality. The General Motors plant in Ingersoll, Ontario, placed second in North America, and Canadian-built vehicles placed first in five out of 23 categories. Quality has a direct and meaningful impact on subsequent loyalty and it costs hundreds of millions of dollars to win back customers who have abandoned a brand.

FRIDGES

Doctors in the UK are warning that Britain’s obesity crisis could cripple the National Health Service as hospitals are forced to buy and rent special equipment to keep bodies cool because they are too large to fit into mortuary fridges. Hospitals are also having to widen corridors, buy reinforced beds and lifting equipment in order to cope with the growing numbers of obese patients. A quarter of adults in the UK are estimated to be obese and the number is expected to grow to account for more than half the population in the next 30 years.

NIGERIA

India has taken over from the US as the largest importer of oil from Nigeria. The US has drastically reduced its demand for Nigerian crude in recent months and now buys about 250,000 barrels a day. India buys considerably more, about 30 per cent of the country’s 2.5-million barrels of production. US demand for imported oil has fallen sharply because of increasing domestic shale gas and oil production. It is estimated that the US will be largely energy independent by 2035.

CLAIMS

Researchers into unusual claims by cellphone owners in Britain has revealed the most bizarre and outlandish accidents befalling the nations’s technology. One farmer claims to have damaged his iPhone while calving, acccidently inserting it into the rear of a cow while attempting to use it as a flashlight. And a woman absentmindedly baked her Nokia 6303i into a sponge cake intended for her daughter’s birthday.

Thank you for reading the A & A Economic News Digest. For more information visit our website www.aacb.com or contact A & A Contract Customs Brokers Ltd. at strehler@aacb.com.

Past issues of the A&A Economic News Digest can be found at http://www.aacb.com/publications/ed/index.asp

July 2014 Economic Digest - Importing and Exporting

July 2014 Edition

 
TRADE

A new study for the Canadian Council of Chief Executives has concluded that Canada should declare itself a free trade zone. Removing all remaining tariffs coming into Canada would generate C$20-billion a year in economic gains making the country wealthier, more productive and a magnet for foreign investment. The economic gains, equivalent to a percentage point of gross domestic product, are roughly five times the $4-billion a year Canada now collects from import duties.

WATER

Las Vegas or Los Angeles would love to have Berlin’s problem: too much water. In the Spree valley, the water table has risen in places to just 2.5 metres below ground level. With most cellars in Berlin between two and three metres deep, that means wet basements, water damage and mould. Some 200,000 people, out of Berlin’s total of 3.4-million, live in the worst hit areas. On average Germans would be expected to use about 300 cubic metres of water annually but because of conservation measures they are using only about 200 cubic metres.

ROAMING

The European Parliament has voted to scrap roaming fees charged for using a cell phone while abroad. Under the wide-ranging telecom reforms, the cost of making a call or downloading internet data in another EU country will be the same as at home. Some UK consumers have faced bills for thousands of pounds after falling foul of current high roaming charges. The change is due to come into effect from December but still requires approval from EU governments.

DRONES

A Greek entrepreneur is planning a network of humanitarian drones for transporting cargo, which aims to help the one billion people who do not have year-round access to roads by delivering medical supplies to them. The drones can deliver parcels up to 2-kilograms in weight. In sub-Saharan Africa, 85 per cent of roads are inaccessible during the wet season, cutting off huge swaths of the population and hindering the delivery of medical supplies. Test runs have been made in Haiti and the Dominican Republic and aid agencies are being targeted as the first users.

CABLES

A new design for USB, a standardised connection for data transfer between electronic devices, has been shown off for the first time. The new connector will be reversible, bringing an end to the everyday irritant of trying to force a USB cable in the wrong way. But the rollout of new ports will take some time as manufacturers gradually incorporate them into their products. The first USB cables were introduced in the mid 1990s and, until now, could only be plugged into a computer or other device one way round to ensure a data connection.

WEDDINGS

A US wedding planner, has surveyed 13,00 brides and grooms across the country and sourced statistics on everything from location fees and tuxedo costs. It has found that tying the knot keeps growing more expensive, despite the trend for casual weddings. The average wedding cost in 2013 was about the price of a new car, or about US$30,000, excluding the honeymoon. The most expensive place to wed is Manhattan, $86,916 on average. Wedding dress costs: New York City and Long Island brides spent most on their gowns, $3,027 and $2,160 respectively while brides in Alaska and Oklahoma spent far less, $804 and $859 respectively.

AGRICULTURE

Canada’s agriculture and agri-food GDP has grown 1.4 per cent annually since 1997, despite a global economic downturn that saw many other sectors stagnate. The food and beverage manufacturing industry is the largest manufacturing industry in Canada in terms of value of production, with shipments worth C93-billion. It accounts for 16 per cent of total manufacturing shipments. Exports of manufactured food products were worth $24.6-billion in 2012, an increase of 5.6 per cent from 2011 and reached 185 countries. Approximately 25 per cent of food and beverage shipments were exported with the largest share going to the United States.

SYRUP

Quebec is the undisputed world champion of the maple syrup business but the dramatic rise in production by Vermont has industry officials casting an eye southward. Quebec’s powerful producer’s federation has hired researchers to find out what is fuelling the rapid growth where production has doubled over the past 13 years. Even with the dramatic rise, the US accounts for only 20 per cent of maple syrup production (Vermont taps about 40 per cent of US production), while Quebec accounts for most of Canada’s 80 per cent. Last year, Vermont had record production. Vermont’s three year average to start the 2000s was 1.6-million litres per year. The past three years ending 2013 saw the state produce 3.1-million litres.

CHOCOLATE

The value of the Canadian chocolate confection market is about C$2.7-billion. Nestle’s Canada has a 16 per cent share of that with its Coffee Crisp and Kit Kat brands leading in total sales. Globally the market is expected to hit almost $100-billion this year from $83-billion in 2010 largely due to a growing sweet tooth among Asian consumers. Chocolate prices were $12.25 a kilogram last year, a 45 per cent increase from 2007 which will hurt Swiss consumers who devour 11.8 kilograms of chocolate per capita each year, compared to 6.4 in Canada and 5.5 in the United States (a large chunk of which is sold around February 14th.

ALMONDS

One of America’s earliest food crops, almonds, is also one of the most important for commercial bee keepers. Almonds depend on bees for pollination but the growth of this crop taxes the honeybees that the industry needs to thrive, California produces over 80 per cent of the world’s almonds, valued at over US$4-billion in 2012. The boom is expected to continue with new food products and expanding overseas markets increasing demand, to the point that no young almond trees are available for purchase until 2016. This demand for almonds translates into demand for pollination so every year 60 per cent of all US honeybees are shipped to California and will require 1.5-million hives this year.

DIAMONDS

In 2012, the value of the worldwide retail diamond market was US$72-billion. Diamonds took a huge hit during the financial crisis and have only just recovered. Sales were up just two per cent last year. Russia has diamond reserves of more than one billion carats followed by Zimbabwe with 200-million, Canada 195-million and Congo and Brazil 180-million each.

RELIABILITY

General Motors which is already locked in a public relations crisis because of a deadly ignition defect that has triggered a recall of millions of vehicles now has another problem on its hands. A new survey of top suppliers to the car industry in the US now considers GM as the worst big auto maker to deal with. The survey asks the industry’s biggest suppliers to rate their relationships with the six auto makers that account for 85 per cent of all light vehicles sales in the US. Suppliers gave GM low marks on all kinds of key measures including its overall trustworthiness, communication skills and protection of intellectual property. Toyota and Honda finished in No.1 and 2 spots respectively.

DROUGHT

NASA scientists have begun deploying satellites and other advanced technology to help California water officials assess the state’s record drought and better manage it. The scientists are also embarking on projects that use satellite images to help more accurately measure the number of fields farmers have chosen not to plant and where land is sinking because of excessive ground-water pumping. California’s relationship with NASA began shortly after the dry year of 2009 when officials sought answers to problems exacerbated by the lack of rain and snow, such as sinking land.

COMPETITIVENESS

In a survey of 60 countries by a Swiss business school, Canada remains the seventh most competitive. The IMD International based in Lausanne, says the United States retains its No. 1 spot, reflecting the resilience of its economy. Switzerland, Singapore, Hong Kong, Sweden and Germany are also ahead of Canada. The UAE, Denmark and Norway are also in the top ten. While Europe fared better than last year because of its gradual economic recovery, the survey shows big emerging economies have dropped in the ranking as economic growth and investment slows.

WAGES

In a nation of mostly haves and have-mores, Swiss voters have rejected a poll which would have seen the nation-wide minimum wage raised to US$27.77 an hour, the world’s highest. Meanwhile, Washington State is expected to approve an increase in their minimum wage to $15.00 an hour, the highest in the United States.

WI-FI

Connectivity for wi-fi from a light bulb, or “li-fi” has come a step closer according to Chinese scientists. A micro chipped bulb can produce data speeds of up to 150-megabits per second (Mpbs). A one watt LED light bulb would be enough to provide net connectivity to four computers it is claimed. Li-fi, also known as visible light communications, at these speeds would be faster, and cheaper, than the average Chinese broadband connection.

FILMING

US authorities have said they are considering allowing the film and television industries to use drones. The Federal Aviation Authority feels there could be tangible economic benefits but cautions about safety issues. Businesses have been pushing hard for permission to use drones which are much less expensive to run than manned aircraft. However, the FAA is concerned about the fact that the US has some of the busiest airspace in the world and it needs to be sure that drones can be integrated with existing commercial and military traffic.

RAIN

Scientists at the Delft University of Technology in the Netherlands would like to turn umbrellas into rain gauges. The smart umbrella has a sensor that detects raindrops falling on its canvas and uses bluetooth to send this information via a phone to a computer Though we have radar and satellites, rain is not being measured on the ground and scientists are relying on an ever dwindling number of scientific gauges which are expensive to maintain.

FOOD

The US$3.9-billion nut-based and sweet spread category grew 34 per cent from 2008-13 and is forecasted to reach $6.5-billion by 2018, a 65 per cent increase. Due in part to countless new product launches, including industry-leading Nutella, such products maintain high household penetration rates and have become pantry staples. One in five consumers surveyed (20 per cent) say they want to see more indulgent nut-based spread, such as raspberry, white chocolate or chocolate chip. From 2009-13 there was a 97.7 per cent increase in new products.

DUTY-FREE

The abolition of duty-free sales within the European Union in 1999 looked like the end of a big chunk of business. But since 2009, sales have grown by more than 12 per cent a year. Half the growth comes from a rise in the number of passengers, especially from places like China. A bit is inflation and the rest comes from travellers’ greater appetite for shopping. Once passengers are through security they are at a loose end and most are relatively prosperous. Airport retailers know the flight schedules and shopping habits of travellers according to their boarding cards and are primed to receive them. Sales at airports alone are forecast to grow by 73 per cent from 2013 to 2019. In 2013, travel retailers sold around US$60-billion worth of goods.

SIZE

Though the engineers measured them, nearly 1,300 French stations are a few centimetres too narrow to take the order of 341 new trains to be introduced between now and 2016. It will cost US$68-million to fix the problem.

Thank you for reading the A & A Economic News Digest. For more information visit our website www.aacb.com or contact A & A Contract Customs Brokers Ltd. at strehler@aacb.com.

Past issues of the A&A Economic News Digest can be found at http://www.aacb.com/publications/ed/index.asp

June 2014 Economic Digest - Importing and Exporting

June 2014 Edition

TEA

A machine with a US$13,000 price tag is said by its manufacturer to make the perfect cup of tea. It claims that the brewing process is far more complicated than simply dipping a tea-bag into some boiling water. Prototypes are being tested in US coffee shops and the device could be commercially available later this year. It uses a brewing chamber into which loose tea leaves and water are placed. The air is then drawn out to create a vacuum. This negative pressure in the chamber brings the tea leaves to the surface of the liquid and draws out flavour more precisely than simply adding boiling water. The process is repeated for between 60 and 90 seconds and different flavours need different numbers of infusion cycles. The machine can brew more than 60 cups of tea an hour.

INTERNET

Tablet computers are behind a swift rise in people aged 65 and over using the Internet in the UK. In the past 12 months the percentage of older people going online rose by more than a quarter to 42 per cent. In 2013, 17 per cent of people in the 65-or- over category had used a tablet for their web browsing. In 2012, tablet use in this group was just five percent. Despite the increase, the oldest group of people spend the least amount of time online of any adult age group with an average of nine hours 12 minutes per week. By contrast, those aged 16-24 devote about 24 hours each week to online activities.

DENMARK

Denmark is home to 1,500 mink farmers who together rear about 17.2-million of the mammals a year, about one-fifth of the world’s supply. It also produces smaller quantities of other furs such as white fox and chinchilla. Danish food companies make the world’s most nutritious mink food, a foul-smelling, fishy concoction and Danish design companies drive fur fashions. The Danish Fur Breeders Association is the world’s largest fur-auction house which sells fur from all over the world. Last year it auctioned 21-million pelts and had a turnover of US$2.8-billion.

INFRASTRUCTURE

Although US$91-billion is spent each year on American roads, that is nowhere enough to keep the country’s 4.1-million miles of public roadways in good shape. The Federal Highway authority estimates that $170-billion in capital investment is needed every year. Last year, a report from a civil engineering group said that 31 per cent of America’s major roads were in poor or mediocre condition. Main roads through cities were in worst shape with almost half the miles travelled over urban interstates in 2013 giving a bumpy ride.

MAIL

With a workforce of just over 491,000 in 2013, the United States Postal Service is second only to Walmart among civilian employers in America. But it still employed more than 200,000 fewer people last year than it did just nine years earlier, when it handled nearly 500-million more pieces of mail and had almost 2,000 more retail offices. The rise of e-mail has left America’s massive postal service with far less to do and it has been scrambling to find ways to raise revenue. A new report suggests that post offices should begin offering financial services such as cheque-cashing, small loans, bill payments and international money transfers.

TOURISTS

Nearly one in ten international tourists worldwide is now Chinese, with 97.3-million outward-bound journeys from the country last year, of which around half were for pleasure. Most of those who travel go to Hong Kong, Maca or Taiwan Chinese tourists spent most in total, US$129-billion in 2013, followed by Americans at $86-billion. More than 80 per cent of Chinese tourists say shopping is vital to their plans and that they are expected to buy more luxury goods next year while abroad than tourists from all other countries combined. This growth is expected to continue. Currently, only about five per cent of the Chinese population have passports.

AID

Last year, developing countries received US$134.8-billion in aid, the highest ever according to the OECD’s Development Assistance Committee. Donations fell in 2011 and 2012 as rich countries adopted austerity budgets. Five DAC member countries, including Britain for the first time, met the UN target of 0.7 per cent for aid as a share of gross national income (GNI). The Netherlands missed the benchmark for the first time since 1974. The United Arab Emirates increased aid fourfold, chiefly to help Egypt. America gives less than 0.2 per cent of its GNI but remains the largest donor providing $32-billion in 2013.

AIRPORTS

For the fifth year in a row, Vancouver International Airport has been recognized as the Number One airport in the world. The Skytrax rankings are based on more than 12-million passenger surveys conducted in airports around the world on 39 elements of airport experience.

PUBLISHING

A decision by Canada’s Competition Bureau means retailers will now be able to lower the prices of e-books. The Bureau has reached a deal with the four major e-book publishers that forces them to drop their practice of stopping retailers from offering discounts on e-books. Similar settlements in the US over the past two years resulted in shaved prices for e-books there. Best selling e-books are now sold at discounts of 20 per cent or more south of the border.

SNACKS

Scottish potato chip maker Mackie’s has reported a six-fold leap in annual exports to Canada.. The company exported 279,000 packages in 2013, up from 46,000 in the previous year. The Canadian market now makes up about 40 per cent of Mackie’s export sales turnover.

HEALTH

A new report by the World Health Organization (WHO) says that resistance to antibiotics poses a major global threat to public health. It analysed data from 114 countries and said resistance was happening now in every region of the world. It described a post-antibiotic era when people die from simple infections that have been treatable for decades. The report focussed on seven different bacteria responsible for common serious diseases such as pneumonia, diarrhoea and blood infections.

MINING

Plans to open the world’s first mine in the deep ocean have moved closer to reality. A Canadian mining company has finalized an agreement with Papua New Guinea to digging up an area of seabed. The controversial project aims to extract ores of copper, gold and other valuable metals from a depth of 1,500 metres. Environmental campaigners say mining the ocean floor will prove devastating, causing lasting damage to marine life. Under the agreement, PNG will take a 15 per cent stake in the mine by contributing US$120-million towards the cost of operation.

GARLIC

A farmer who stumbled across an ancient Korean method for curing garlic is now supplying some of the UK’s top restaurants with so called “black garlic”. He wanted to find a way of preserving some of the 900,000 pungent bulbs of garlic he grows so they could be eaten all year round. The answer came when he chanced upon a 4,00-year-old Korean recipe giving a way of preserving garlic bulbs by exposing them to heat and moisture for more than a month. The closely-guarded process kickstarts a chemical reaction between the sugars and amino acids which transforms regular bulbs into sweet, sticky black garlic.

ATARI

Filmmakers digging in a New Mexico landfill have unearthed hundreds of E.T, The Extra Terrestrial cartridges, considered by some the worst made video game ever and blamed for contributing to the downfall of the video-game industry in the 1980s. Some speculate that thousands or even millions of the unwanted cartridges made by Atari were buried in the landfill. The game was a design and marketing failure after it was rushed out to coincide with the release of the movie.

CO2

Rising levels of CO2 around the world will significantly impact the nutrient content of crops, such as wheat, rice and soybeans, according to a new study. Experiments show levels of zinc, iron and protein are likely to be reduced by up to ten percent in wheat and rice by 2050. The scientists say this could have health implications for billions of people, especially in the developing world. Around a third of the global population are already suffering from iron and zinc shortages.

DOORKNOBS

Vancouver’s ban on doorknobs on all new buildings has set off a chain reaction across the country as other jurisdictions ponder whether to follow Vancouver’s lead. The war on doorknobs is part of a broader campaign to make buildings more accessible to the elderly and disabled, many of whom find levered doorhandles easier to operate than fiddly knobs. Vancouver’s code adds private homes to rules already in place in most of Canada for larger buildings, stipulating wider entry doors, lower thresholds and lever-operated taps in bathrooms and kitchens, In BC, bears have been known to scavenge for food inside cars whose doors have handles for this reason and one county in Colorado has banned door levers on buildings for this reason.

CONTAMINATION

Almost a fifth of China’s soil is contaminated an official government study has shown. Conducted between 2005 and 2013, it found that 16 per cent of China’s soil and 14.5 per cent of its arable land showed contamination. The report named cadmium, nickel and arsenic as the top pollutants. The study took samples across an area of 6.3-million square kilometres, two-thirds of China’s land mass. The contamination is notably higher than the previous survey between 1986 and 1990. Up to now, this report has been classified as a state secret because of its sensitivity. There is growing fear in China over the effect that modernization has had on the country’s air, soil and water.

FARMING

The Canadian government hopes changes will lead to a huge expansion of BC’s fish farms. Bureaucratic hurdles and legal uncertainty are being swept away as part of an attempt to help the Canadian industry, which has stagnated for years, to take advantage of rising global demand for seafood. It is believed that aquaculture could expand from C$2-billion in total annual economic activity to $5.6-billion in 10 years and to more than $8-billion in 15 years. BC has been compared unfavourably to Norway which has a coastline identical in length to BC and a population size similar to BC. Norway sold more than 1.2-million tonnes of farmed salmon in 2012. In 2013, BC produced 57,000 tonnes.

CHARGING

A battery that can charge in under 30 seconds has been shown at a technology conference in Tel Aviv. A Samsung S4 device went from a dead battery to full power in 26 seconds in the demonstration. The battery is currently only a prototype and it is predicted that it will take three years to become a commercially viable product. It is estimated that the batteries are likely to be 30- to 40 per cent more expensive to manufacture compared to traditional ones and the final product will be twice as expensive as those on the market today.

SPIDERS

Gasoline-sniffing spiders have forced Mazda to issue a voluntary recall notice so it can apply a software fix to its cars. The yellow sac spider is attracted to the smell of gasoline and the manufacturer fears it could weave its web inside engines causing a blockage and build-up of pressure increasing the risk of engine fires. 42,000 Mazda 6 vehicles from 2010 to 2012 are involved in the recall.

ATM's

A homeless man in Maine used the cash advance feature on a bank ATM to give him US$700 and he did it 53 times for a total of $37,000.

Thank you for reading the A & A Economic News Digest. For more information visit our website www.aacb.com or contact A & A Contract Customs Brokers Ltd. at strehler@aacb.com.

Past issues of the A&A Economic News Digest can be found at http://www.aacb.com/publications/ed/index.asp

May 2014 Economic Digest - Importing and Exporting

May 2014 Edition

FRUIT

Bananas are now the world’s most valuable fruit. Exports rose from 11.9-million tonnes in 2001 to 16.5-million tonnes in 2012. Americans eat more bananas than apples and oranges together. But the export industry is fighting to survive on two fronts. First Black Sigatoka, a disease which blackens leaves and can halve yields is showing resistance to the fungicide used to combat it. Second, Foc Tropical Race 4, a strain of disease that attacks the Cavendish banana, a variety that accounts for 95 per cent of the exports of all bananas, has struck in several countries. Central and South America which produce four-fifths of exports have so far escaped, but it is just a matter of time.

CREDIT

Canada has become a creditor nation. For the first time in at least nine decades, Canada has more assets abroad than foreigners have here. Statistics Canada recently reported that the country had net assets of C26.7-billion, up from a net liability position of $302.1-billion at the end of 2012. The reason for the dramatic turnaround is a combination of strong foreign stock market gains in the US and elsewhere, coupled with a roughly 10 per cent decline in the Canadian dollar. The result was a 21 per cent gain in the value of foreign assets, which outpaced a 7 per cent increase in liabilities.

BONUSES

The bonus pool for people employed in the securities industry in New York City increased by 15 per cent in 2013, to US$26.7-billion. The average bonus paid also rose by 15 per cent to $164,530. This was the third highest average bonus on record and the biggest since the 2008 financial crisis. The industry has been profitable for five consecutive years, but the number of jobs, estimated to be 165,000, is still 12.6 per cent below the crisis level.

SIZE

Homes in the United States are getting bigger again. In 2008, the median size of a new home built for sale in square feet was 2,266. In 2010 that figure had dropped to 2,210. In 2011 it had risen to 2,327 and in 2012, it was 2,384.

TRUFFLES

Identifying agricultural areas where truffles will grow is often hit and miss. A Washington company is analyzing data about places where they grow successfully using 11 variables, including geology and altitude, to create maps where the fungi should grow well. Some Oregon truffles are fetching about US$400 a pound at the moment, but this is still about half the cost of some Italian and French ones. Attempts to grow truffles commercially are now being tried in Chile, China and New Zealand.

DRONES

Military drones already fly frequent missions and civilian operations using unmanned aircraft are coming. Ships, like aircraft are increasingly controlled by electronic systems, which makes automation easier. Now the maritime industry is interested in crewless ships for two reasons. The first is safety as most accidents at sea are the result of human error, just as they are in cars and planes. The second reason of course is cost as it is getting harder and harder to sign up competent crews prepared to spend months away at sea. Moreover, some voyages are likely to get even longer for ships with non-urgent cargo as a 30 per cent reduction in speed by a bulk carrier can save around 50 per cent in fuel.

BIRDS

Aircraft strikes by birds are a problem, sometimes a fatal one, for military and civilian aviation alike. America’s Federal Aviation Administration (FAA) reports there are about 10,000 strikes a year to the country’s non-military aircraft costing more than US$957-million in damage and delays. The worldwide figure reported by the European Space Agency is $1.2-billion. Bird strikes have been responsible for 242 deaths between 1912 and 2004. In some countries, radar is being used by air forces to prevent bird strikes by tracking birds that may threaten aircraft. In one, the Israeli air force has reduced the number of strikes it suffers by two-thirds.

BRAZIL

Coffee prices have risen by over 45 per cent so far this year, as severe drought in Brazil combined with leaf rust across Central America has damaged crops. Analysts reckon that this year’s crop will be some 10 per cent smaller than last years. The scarce rain and heatwave have also driven sugar prices to a three-month high. Brazil is the world’s largest producer of both commodities, as well as soyabeans, which are getting more expensive.

TUK-TUKS

They are most commonly associated with the teeming cities of developing Asia, but three-wheeled motorised rickshaws, or tuk- tuks, first emerged in Japan and Italy just over half a century ago. Since then the compact, cheap and adaptable vehicles have spread to every corner of the globe. Bangladesh, Egypt, India, Nigeria, Peru, Sri Lanka and Thailand are now the biggest markets. They are increasingly seen chugging through the streets in east Africa, the Middle East and China. India is the biggest producer, turning out more than 530,000 tuk-tuks a year for the local market and a further 300,000 for export. Some models now run on compressed natural gas rather than diesel and an Australian firm is developing a solar one.

TOMATOES

Developed in Britain, large scale production is now under way of genetically modified purple tomatoes. The pigment, known as anthocyanin, is intended to give tomatoes the same potential health benefits as fruit such as blueberries. Anthocyanin is an anti oxidant which studies on animals show could help fight cancer. Scientists say the new tomatoes could improve the nutritional value of everything from ketchup to pizza topping.

CHARGERS

European politicians have backed a regulation that will force smartphone makers to use just one type of charger. The regulation was drawn to help consumers and to cut down on the amount of electronic waste. It is expected to cut down on electronic clutter and 51,000 tonnes of electronic waste annually.

MEAT

As consumers further tailor their diets to the latest health and wellness trends, 39 per cent of red meat-eaters report consuming less in 2013 than they did in 2012 although 90 per cent say they eat at least some kind of red meat at least once per month. Health trends motivating consumers to cut fat and cholesterol intake are by far the most dominant factors affecting the red meat market. Price is also a factor as 58 per cent of consumers surveyed reported that they have noticed the price of red meat has increased in the past 12 months.

BEER

The market share of craft beer in British Colombia has doubled in four years and shows no sign of slowing. The share was nine per cent of all beers in 2009 and has risen to 19 per cent in 2013. Large breweries’ beer sales declined nearly four per cent last year while sales by microbrewers increased 38 per cent. Last year there were 10 brewery openings and there are at least 21 new breweries in the planning stages for this year, 13 of those in Metro Vancouver.

CARP

The US city of Chicago is considering drastic measures to prevent giant fish infesting North America’s Great Lakes. Authorities are thinking of blocking the city’s canal system to stop Asian carp entering Lake Michigan. Such a move could cost up to US$18-billion and cause huge economic disruption to the city. The species of carp is native to the far East and was originally introduced to southern US states more than three decades ago to control algae build-up in sewage treatment plants. But they escaped into the Mississippi River and proliferated, making their way north towards the Great Lakes.

JOBS

News of job losses in Canada are overshadowing a bright spot in Canada’s labour market. The professional, scientific and technical services sector, which tends to pay above-average wages, hit its highest job level on record last December. This sector led the country’s job growth last year with an increase of 85,000 jobs. It is now the fourth-largest sector by employment in Canada, with more workers than in construction. This sector includes accountants, engineers, architects, lawyers, research and development specialists, surveyors, consultants, graphic designers and marketers. Its share of total employment has climbed to 7.6 per cent from 4.9 per cent two decades ago.

SHIPPING

Insuring the giant ships that traverse the Arctic and Northern Canadian waters is a growing business but one that deals with a great deal of uncertainty. Warmer weather has opened waterways that used to be clogged with ice, but much of Canada’s Arctic territory is uncharted and the capacity to rescue ships in trouble is limited. Governments are concerned about possible pollution from spills of fuel or cargo. On top of that, insurers have limited claims data on which to base underwriting claims.

LIVESTOCK

Canadian farmers reported 12.2-million cattle on their farms at the start of the year, down 0.7 per cent from a year. 82,665 farms reported cattle and calves,1.4-million of which were dairy cows and heifers. Hog producers reported 12.7-million hogs a 1.1 per cent increase, while the number of sheep fell 1.0 per cent to 893,000 head. Canada exported 5.0-million hogs last year, down 12.4 per cent from 2012 and 50 per cent less than the peak in 2007. There were 7,090 hog farms in Canada as of January 1st, 2014.

PARKS

Visitors to national parks in the USA play a pivotal role in boosting nearby economies and supporting jobs throughout the country. A recent report by the Park Service and the US Department of Interior found that about 280-million park visitors helped generate nearly US$27-billion in economic activity and supported 243,000 jobs in 2012. Of those numbers, $14.7-billion was spent in “gateway regions” , or communities within a 60-mile radius of a park, supporting more than 200,000 jobs in those communities. For instance, more than 1.3-million visitors to Joshua Tree National Park in California, helped contribute about $62-million to nearby communities and supported 770 jobs. The Grand Canyon attracted 4.4-million visitors, contributed about $453-million and supported 6,000 jobs.

GOLD

China is poised to become the world’s biggest gold buyer that could support prices of the precious metal as well as accelerate the global bullion market’s shift eastward. Gold purchases by Chinese consumers jumped 41 per cent this past year. China has long had a cultural affinity for precious metals and the increasing affluence of consumers there, along with more relaxed investment restrictions has boosted the country’s demand for gold bars and jewelry alike. The increase was enough to overtake India which for decades, if not centuries, held the No. 1 spot. The price of gold declined 28 per cent in 2013, the biggest drop in 32 years as money managers dumped gold and bought stocks.

POP

The two major manufacturers of soft drink in North America are being forced to find other sources of revenue as their sales decline. The soda makers are struggling with reduced North American demand for their core carbonated drinks and counting more on other products to diversify and bring back customers. In this troubled sector, soft-drink makers are grappling with their products being heavily discounted on store shelves as retailers try to lure consumers who have turned to healthier or trendier products.

COMMUNICATIONS

A burglar in Britain took a photograph of himself with a stolen smartphone while on the job and inadvertently sent it to the authorities. He is now in jail.

Thank you for reading the A & A Economic News Digest. For more information visit our website www.aacb.com or contact A & A Contract Customs Brokers Ltd. at strehler@aacb.com.

Past issues of the A&A Economic News Digest can be found at http://www.aacb.com/publications/ed/index.asp

April 2014 Economic Digest - Importing and Exporting

April 2014 Edition

WEIGHT

Cutting vehicle weight may be the next advance in reducing the financial and environmental cost of driving. Until now car makers have met a trend towards tougher fuel economy standards worldwide by reducing engine sizes and introducing technology, for example to cut motors when a car is idling. However, one common argument against using lighter weight materials is a feared compromise on vehicle safety.

LIGHTS

Canadians have stepped up their purchases of old-style incandescent light bulbs as buyers stockpile them in the wake of the first phase of a ban on manufacturing the power-guzzling product. Retailers report a jump in sales as a result of a ban on 75-watt and 100-watt bulbs being made or imported into Canada. At the end of the year, 40- and 60-watt bulbs will also come under the ban.

LOSSES

Justice Department auditors in the US have found that the US agency tasked with stopping illegal tobacco trafficking lost track of 420-million cigarettes purchased in under cover operations.

PARKING

The London borough of Westminster has begun installing smart parking sensors. The sensors detect whether a bay is vacant or not. Combined with an app that allows drivers to view a map of parking spaces in real time, it will direct them to an empty space. On average, drivers spend 15 minutes looking for a parking space in the area. It is hoped that the system will cut down both on congestion and carbon emissions.

AID

Japan is pledging more than US$14-billion in aid and trade deals to Africa. Japan's Prime Minister made the announcement during a recent visit to Oman, before going to Ethiopia, Ivory Coast and Mozambique, the three fastest growing economies. This is seen as a step by Japan to compete with China in a new bid for African resources. Africa is expected to be the centre of global economic growth in the coming years.

COINS

Collecting coins used to be more of a hobby, now it's an investment area with people paying millions for coins. At a recent auction in New York, A Brazilian 1922 gold piece sold for US$499,375. An anonymous collector paid $4.4-million for a 1740 Russian coin in Zurich. A two-day sale of Russian and ancient coins in Florida brought in $6.5-million. Unlike larger collectibles such as fine art, antiques, wine and automobiles, coins are easy to store and transport.

BEES

New research shows that in half the European countries, there are not enough honey bees to pollinate crops with the shortage particularly acute in Britain which has only a quarter of the bees required. Scientists believe that a boom in biofuels has sparked a massive increase in the need for pollination. Across Europe though, overall numbers of honey bee colonies increased by seven per cent between 2005 and 2010. But in the same period, areas of biofuel crops like oilseed rape, sunflowers and soybeans increased by almost a third. It is believed that wild pollinators like bumblebees and hoverflies are presently making up the shortfall.

PIGS

The Canadian pork industry is bracing for the arrival of a virus that has killed more than a million young pigs in the United States and caused meat prices to spike. The virus, which is deadly for piglets was found in the US last spring and sent pork prices soaring by 25 per cent. The virus has been reported in 22 states and is predicted to cause a drop in the size of the US herd by as much as three per cent as its spread accelerates. Canada exported more than 5.6-million live hogs and a billion kilograms of pork in 2012, worth about C$3.5-billion.

IMPLANTS

Researchers in Oxford have developed a degradable implant which they say has huge potential to improve surgical success rates. The protective patch, which wraps round soft tissue repairs, will be trialled in patients with shoulder injuries. It is hoped in time this approach could help other patients with other conditions including arthritis, hernias and heart defects.

GOLD

The Swiss National Bank reported that the value of its gold reserves fell by US$17-billion in 2013. Gold prices tumbled last year by 28 per cent, the steepest annual drop since 1981 as investors instead piled into the booming stockmarkets. Switzerland's central bank hold more than 1,000 tonnes of gold. America holds the largest amount of gold in the world, around 8,000 tonnes.

CONGRESS

For the first time, more than 50 per cent of the US Congress are millionaires. The median net worth in 2012 for all current members of Congress in office was US$1,008,767. There are 268 current members with a net worth of $1-million or more, up from 257 members, or 48 per cent, a year earlier. Lawmaker wealth varies from one with an estimated fortune of $464-million built on car alarms to another with $12.1-million in net liabilities related to outstanding debt on loans for his family's dairy farm.

SCOTCH

A new scheme has been launched to protect the Scotch whisky industry from fake or sub-standard products. The verbification scheme set up by the UK government will help consumers identify genuine UK-made products. Producers will have to sign up for the scheme if they want to sell within the European Union. Producers, blenders, bottlers, labellers and bulk importers will have to apply to HM Revenue and Customs if they want to be verified. The Scotch whisky industry is worth around US$8-billion to the Scottish economy and employs over 10,000 people in Scotland.

DIAMONDS

Scientists have discovered compelling evidence that diamonds exists in the icy mountains of Antarctica. They have identified a type of rock in the permanently frozen region that is known to contain the precious stones. However, recovering any Antarctic mineral resources for commercial purposes is currently forbidden.. Diamonds are formed from pure carbon under extreme heat and pressure at depths of about 150k in the Earth's crust and volcanic eruptions bring them to the surface.

VESSELS

A floating vessel that is longer than the Empire State Building is high has taken to the water for the first time. Shell's Prelude was floated in South Korea and when fully built will be the largest floating facility ever built, weighing more than 600,000 tonnes. It will be used in the production of natural gas from 2017 and will operate for 25 years off Australia's north-west coast. The vessel is estimated to cost between US$10-and $12-billion.

TRANSPORTATION

A record crop of wheat and grains in Western Canada in 2013 has highlighted the weakness in the transportation system that moves the commodities from field to foreign markets. The grain industry needs more trains to meet global demand and capitalize on strong prices. One of the problems is that the rise in moving crude oil by rail is creating new competition for track space and locomotives. The rail industry claims the problem is the record crop not oil-by-rail which accounted for just 2 per cent of rail car loads in 2013.

OIL

Under the groves that make southern Italy the world's second largest olive oil producer, geologists have found a more lucrative liquid: Europe's biggest onshore crude oil fields. Basilicata, a mountainous, sparsely populated province in the arch of Italy's boot, holds more than one billion barrels, offering the country a weapon to fight a two-year recession. Italy is to double production raising its output to almost 200,000 barrels a day, making it Europe's third largest oil producer, after the UK and Norway.

ABUSE

US authorities have named Ukraine as the country with the worst record of protecting intellectual property rights. A report by the US Trade Representative says Kiev has failed to fight internet piracy and the use of illegal software. Such software is even being used by government departments. Ukraine has been warned that it could lose trade benefits if it fails to act. The report also raises grave concern about the alleged misappropriation of trade secrets in China.

CLIMATE

An average of 5.3 per cent of annual gross domestic product could be lost in East Asia by the year 2100 if the four countries in the region don't take measure to tackle it, according to the Asian Development Bank. Rising temperatures in China, Japan, Mongolia and South Korea will spur more flooding and tropical storms in coastal areas and make northern agricultural regions more prone to drought. The study underscores the risks of inaction on climate change faced by a region that was responsible for 30 per cent of the world's carbon emissions in 2010.

WATER

A huge water source has been discovered in the arid Turkana region of northern Kenya which could supply the country for 70 years. The discovery of two aquifers brings hope to the drought-hit region. Another aquifer has been found in Namibia, the continent's driest country.

ATMs

Access to traditional financial services such as deposit-taking accounts and automatic teller machines (ATMs), in developing countries has expanded in recent years. Since 2004, the number of ATMs per 100,000 adults has more than doubled to around 22 (compared with over 70 in rich countries). Russia and Brazil have more ATMs relative to their population than other emerging markets.

DISASTERS

The Insurance Bureau of Canada says the estimate of the insured property damage caused by last June's southern Alberta floods is more than C$1.7-billion, the costliest natural disaster in Canadian history. Well in excess of 25,000 claims were filed in the wake of the floods and the final figure is expected to be higher.

SPICES

Europeans had a taste for spicy food at least 6,000 years ago it seems. Researchers have found evidence for garlic mustard in the residues left on ancient pottery shards discovered in what is now Denmark and Germany. The spice was found alongside fat residues from meat and fish.

VEGETARIANS

Ditching meat and fish in favour of a vegetarian diet can have a dramatic effect on the health of your heart. A study of 44,500 in England and Scotland showed vegetarians were 32 per cent less likely to die or need hospital treatment as a result of heart disease. Differences in cholesterol levels, blood pressure and body weight are thought to be behind the health boost. Heart disease kills 94,000 people in the UK each year, more than any other disease, and 2.6-million people live with the condition.

TIMBER

Measures to prevent illegally harvested timber from entering the European Union have come into effect. The new regulation requires importers or sellers of timber and wood products to keep records of the sources of their supplies. Interpol estimates that illegal logging contributes up to 30 per cent of timber in the global market, costing in excess of US$20-billion each year. The EU accounts for 35 per cent of the world's primary timber consumption.

Thank you for reading the A & A Economic News Digest. For more information visit our website www.aacb.com or contact A & A Contract Customs Brokers Ltd. at strehler@aacb.com.

Past issues of the A&A Economic News Digest can be found at http://www.aacb.com/publications/ed/index.asp

March 2014 Economic Digest - Importing and Exporting

March 2014 Edition

VALUE

The prospect of liquefied natural gas plants being built in northern British Columbia has sent assessed values for residential properties soaring in the region. In the District of Kitimat, the average assessed value for a single-family detached home was C$228,000 on July 1st last year, up 26.7 per cent from the previous 2012 evaluation. Across B.C the total value of the assessment rolls climbed a modest 1.35 per cent. Rental vacancy rates in Kitimat hit 40 per cent several years ago, now they are close to zero.

ROADS

Seven European countries, along with Switzerland, are levying fees to use roads for a particular period that tend to favour local drivers over foreign ones, which is against EU rules. In April, Britain will start charging foreign trucks up to US$16 a day to use its roads. Belgium and Latvia are considering similar levies. To get around EU rules, most of these schemes involve taxing all cars and trucks but in effect refunding domestic drivers by reducing vehicle taxes. Recent research shows that truck tolls like these not only harm economic growth but may also damage Europe's competitiveness.

THEFT

Crime in Britain has been falling since the mid-1990s but between 2010 and 2011, the cost of thefts of farm animals has shot up by 170 per cent and were up again last year when about 69,000 sheep were stolen. Over the past three years, US$676,000 worth of livestock, mainly sheep, were stolen in Cumbria. Rustlers target sheep because unlike cattle that have electronic ID tags and passports, sheep simply have ear tags that can be easily removed.

JETS

Ferraris and Rolls-Royces have become common sights in China's cities as a new class of super-rich indulge a growing appetite or luxury, but tight regulation has meant the private jet, the ultimate status symbol of the global elite, remains rare. Recent rule changes, however, indicate that China is preparing to open its skies to private aircraft, a move that may herald the greatest expansion of business and private aviation in the past 30 years.

WATER

Canadian agricultural producers used approximately 1.7-billion cubic metres of water for irrigation in 2012, more than double the amount reported in 2010. Irrigation volumes increased in all provinces, with the exception of British Columbia, where volumes remained the same. Alberta farmers accounted for just over three-quarters of the irrigation water applied to crops in 2012, with B.C. next with 14 per cent of the total. The majority of water was used to irrigate field crops (61 per cent) and forage crops (34 per cent). The remainder was applied to fruit crops (3 per cent and vegetable crops (2 per cent).

FORESTS

Tree loss in one of the world's largest rainforests has slowed according to a recent study. Satellite images of Africa's Congo Basin reveal that deforestation has fallen by about a third since 2000. It is believed that this is partly because of a focus on mining and oil rather than commercial agriculture, where swathes of forest are cleared. Sprawling across the heart of Africa, the Congo Basin rainforest is second only to the Amazon in size. It covers nearly 2-million square kilometres.

FISH

According to a major new study, many European fish stocks are on the road to recovery from overfishing. Many stocks in the northeast Atlantic were being fished sustainably and, given time, should recover. The study examined the status of 57 stocks monitored over 60 years in the northeast Atlantic. However, the status of some stocks, particularly cod, remains precarious.

TAGS

British Airways has announced plans to test reusable luggage tags made from electronic paper. Flight information can be transmitted to the tag via the ticket holder's smartphone, using data from the airline app stored after digital checkin. Currently, operators print off individual paper tags for every bag checked in before each flight. The tags were presently being tested by staff before being made available to travellers late in 2014.

LEAVE

The Canadian government is taking aim at sick leave in the public service where it says the absenteeism rate of 18.2 days a year is more than 2 1/2 times the private sector average. The current system of banked sick days leads to an absenteeism rate well above the private sector. The government plans to change the existing rules which have not been changed since 1970 with tow new programs, a short-term disability system for workers with temporary illness and the long term disability program will be reformed.

OBESITY

There are almost twice as many obese people in poor countries than in rich ones as fat and sugar consumption rises. The Overseas Development Institute puts the number of overweight and obese adults in developing countries at more than 900-million. This compares with 557-million in industrialized countries. Factors behind the increase in obesity include rising incomes and urbanization, which tend to lead to diets rich in animal products, fat, salt and sugar.

PENSIONS

Membership in registered pensions plans (RPPs) in Canada reached 6,114,600 in 2011, up 49,000 from a year earlier. Membership in public sector pension plans rose by 0.6 per cent to 3,160,000 while the number of members in private sector plans increased to 2,954,700. The participation of women in RPPs continued its long-term upward trend. In 2011 total employer and employee contributions to RPPs reached a record high of C$58.9-billion. The market value of assets in RPPs totalled $1.3-trillion, up 4.8 per cent from the previous year.

ANTIBIOTICS

The US food safety regulator is moving to phase out some use of antibiotics in livestock in an effort to curb growing antibiotic resistance in human disease. The FDA has asked pharmaceutical firms voluntarily to relabel their drugs to prevent them being used in healthy animals. In the US food supply, antibiotics are routinely fed to healthy livestock to enable them to gain weight faster. As many as 23,000 Americans a year die from antibiotic-resistant infection.

PULSES

A British company has demonstrated a prototype device capable of stopping cars and other vehicles using a blast of electromagnetic waves. The device uses radio frequency pulses to "confuse" a vehicles electronic systems, cutting its engine. It is believed the primary use would be as a non-lethal weapon for the military to defend sensitive locations from vehicles refusing to stop.

RAILWAYS

Kenya has formally launched a new, Chinese-financed, railway which should extend across East Africa to reach South Sudan, the Congo and Burundi. The first section will link the Kenyan port of Mombassa to the capital, Nairobi, reducing the travel time from 15 hours to about four. It is said to be the country's biggest infrastructure project since independence 50 years ago. The cost of the project will be US$3.2-billion, mostly funded by China.

DAIRY

At 36 trips a year, dairy is one of the most frequently shopped grocery departments in the US. New product dairy introductions are robust at approximately 12,000 to 13,000 products annually. Sales of yogurt projected to 2017 show an anticipated 17 per cent growth (an estimated US$9.1-billion). Yogurt is a growing breakfast and snack category.

GAS

Saudi Arabia's liquefied petroleum natural gas prices are headed for the worst year since the global financial crisis as record exports from the US loosen the Middle East hold on the Asian market. Saudi Arabia's monthly propane contract price, the benchmark for sales to Asia, dropped 9 per cent this year, the biggest loss since 2009. The slump in prices underscores how the North American shale gas boom is affecting energy markets around the world.

WATER

Despite the popularity of beverages such as coffee and soda, water stakes its claim as the top beverage consumed by American adults throughout the day. Although many Americans begin the day with coffee, as the day goes on, water plays a more important role in satisfying beverage needs. Tap and filtered and bottled water is the top beverage at lunch and dinner, followed closely by soft drinks. Younger consumers are less likely to consume water however.

HERDING

Robots could be used in the future to round up cows on dairy farms. A four-wheeled device, known as Rover, has been tested by a team at Sydney University. It was used to move a herd from a field to a dairy. Researchers were amazed how easily cows accepted the presence of the robot. They were not fazed by it and the herding process was calm and effective. Because the robot moved in a steady manner it allowed cows to move at their own speed which was important in reducing lameness among cattle.

TOXIC

Argentina, Indonesia and Nigeria are among the top 10 most polluted places on the planet. This is due to jewellery and other chemical processing. In these extraordinarily toxic places life spans are short and disease runs rampant among the millions of people who live and work there, often to provide the products used in richer countries. In some places in Indonesia, measurements of mercury, a poisonous, potent neurotoxin, used in processing gold are 350 times higher than what is considered safe.

DEBT

The average consumer debt in Vancouver, excluding mortgage, in the third quarter of last year was the highest in Canada at C$40,174. The second highest was Calgary's debt at $37,920. Nationally, the average consumer debt was $27,355. Across Canada, average debt was up 0.83 from the previous quarter and 2.19 per cent from a year ago.

PHONES

A majority of Canadian seniors now own a cellphone but only a small number have made the leap to using a smartphone. Researchers conducted interviews with over 6,000 Canadians to track how technology usage was trending, including among those in the seniors demographic, which was defined as 68 and older. About 61 per cent of the 774 seniors polled said they owned a cellphone, compared with 87 per cent of the younger respondents. Only 13 per cent of the seniors owned a smartphone, versus 63 per cent of the other Canadians polled. The seniors had a very slight preference for Apple’s iPhone but Blackberry’s and Google Android devices were owned in similar numbers.

ACCIDENTS

The annual figures for people dying in car crashes in England and Wales have fallen by 40 per cent in the past 50 years. This is despite the rise in the number of vehicles on the road. Men were more likely than women to die each year. Safety experts said measures including seat belts, speed cameras and curbs on drinking and driving had all helped curb deaths. About 1.3-million people die globally in crashed every year. Current trends suggest road accidents will become the fifth leading cause of death globally by 2030.

CANCER

The cost of cancer to the countries of the European Union is US$107-billion a year, according to recent research into the first EU-wide analysis of the economic impact of the disease. The figures include the cost of drugs and health care as well as earnings lost through sickness or families providing care. Lost productivity, because of work missed through sickness or dying young cost $52-billion.

AGING

In a recent UN report, Sweden ranked first for treatment of the elderly. Afghanistan ranked worst. The report examined the quality of life of the elderly in 91 countries using 13 different indicators.

OPTICS

In 2011, a 75 year old Georgian woman stole some fibre optic cables and cut off the internet to two entire countries.

Thank you for reading the A & A Economic News Digest. For more information visit our website www.aacb.com or contact A & A Contract Customs Brokers Ltd. at strehler@aacb.com.

Past issues of the A&A Economic News Digest can be found at http://www.aacb.com/publications/ed/index.asp

February 2014 Economic Digest - Importing and Exporting

February 2014 Edition

POPULATION

Japan's population declined by a record 244,000 people in 2013. An estimated 1,031,000 babies were born last year, down some 6,000 from the previous year. Meanwhile, the number of people that died last year was 1,275,000, a rise of around 19,000 from 2012. Japan's population has been shrinking for several years. If current trends persist it will lose a third of its population in the next 50 years. A quarter of the population is currently aged over 65 and that figure is expected to reach nearly 40 per cent by 2060.

PANAMA

A consortium constructing a massive expansion to the Panama Canal has threatened to halt work unless US$1.6-billion of cost overruns are paid. Work on the $3.2-billion expansion began in 2009 and construction is due to be completed in June 2015, nine months behind schedule. The majority of work involves building a third set of locks that can accommodate ships that can carry 12,000 containers. At the moment, the biggest ships that can navigate the canal carry 5,000 containers.

ENERGY

Exports of primary energy and energy products produced in Canada increased 5.3 per cent in 2012. Canada exported 73.5 per cent of its crude oil production, 56.5 per cent of its marketable natural gas and 23.3 per cent of its refined petroleum products. Just over 58 per cent of primary energy produced in Canada is destined for export markets, primarily the United States. Ontario, Alberta and Quebec continued to account for most of the energy consumed in Canada.

MAIL

Canada Post's decision to raise stamp prices and shift to community mailboxes will severely effect small businesses and home offices. As of March 1st, the price of a stamp rises to 85 cents, when bought in booklets or rolls, a 35 per cent increase from the current price of 63 cents. This hits small companies at a time when there are few alternatives to sending and receiving cheques by mail. Forty per cent of small businesses send 50- or more pieces of mail a month and 98 per cent use the mail every month.

TRAVEL

Passenger demand in the commercial airline market is expected to rise 31 per cent by 2017 according to an industry survey. The forecast for the 2013-2017 period calls for an increase in passenger numbers to 3.91-billion in 2017 from 2.98-billion in 2012, or almost one billion more passengers. Of the new passengers in the 2013-2017 period, about 292-million will be on international routes and 638-million on domestic runs. The single biggest driver of growth will be China with about 30 per cent of the new passengers.The strongest international passenger growth will come from the Middle East and Asia-Pacific regions.

EXTERMINATORS

Wild pigs are clever and hard to hunt, it can take a day to stalk just one. But they are no match for an aerial drone operated by Louisiana Hog Control, a pest-extermination firm. The remote-controlled aircraft with thermal imaging and a laser pointer. It easily spots the pigs' warm bodies from 4,000 feet and points them out to a hunter on the ground wearing night vision goggles who shoots them. Each year, America's 6-million feral pigs cause an estimated US$1.5-billion of damage to crops, lawns and wildlife.

CREDIT

British working-class families are still paying for Christmas in the summer and one in six middle-income families borrowed money to pay for food, drink and presents last holiday season. The average amount borrowed was US$1,130 and the typical family took 24 weeks to pay back the loan. Meanwhile, close to half the families who borrowed money to celebrate the previous year, still have not finished paying that debt.

STANDARDS

The federal government is being urged to accept European standards for new vehicles which would open the Canadian market to more vehicles and to advanced safety features not now available in Canada. Many offshore-based auto makers have to make their vehicles comply with unique Canadian tests that add costs and delay the entry of some new vehicles or keeps them out altogether. The issue has also arisen recently in the US which is engaged in its own set of negotiations with Europe.

SHIPS

Japanese and Chinese shipyards have their sights on one of the few markets that is not in the doldrums, sophisticated tankers for liquified natural gas, hoping to challenge market leader South Korea. With demand for gas soaring in Asia and a North American gas export boom just over the horizon, China's technical skills are improving and Beijing wants importers to use more ships built at home. It is possible that orders of new LNG carriers in the next five years could be between 100 and 200, depending on how many North American projects come to pass.

ORANGES

A gnat-sized insect, the Asian citrus psyllid, has forced one Florida farm to replace about 1,000 orange trees on its 50-acre farm in the past two years. The bug spreads a disease called citrus greening that causes fruit to shrink and drop early. Florida, the world's largest orange-grower after Brazil, will harvest 121-million boxes of the fruit in the season that began last October, the least since 1990. US consumers spend about US$1.45-billion annually on orange juice.

JOBS

America's employers are expected to bring more jobs home in 2014 now that the country's energy costs and wage growth are lower than in many other countries. Productivity is higher too. Companies in the US are now benefitting from trends that only a few years ago worked against them. The country's average annual hourly manufacturing pay rose just over 4 per cent between 2006 and 2011. China's by comparison shot up 14 per cent and Brazil's hit 18 per cent. America also gets a better deal on energy prices than their global counterparts. US worker productivity has rise almost 5 per cent a year since 1990.

ROBBERIES

The number of robberies on British bank branches has dropped by 90 per cent in the past decade.There were 66 robberies in 2011 compared to 847 in 1992. The drop has been attributed to a raft of innovative technologies making it extremely difficult for traditional robbery tactics to work. A similar trend has been noted in the US where FBI figures for 2012 put the number of bank robberies nationwide at 3,870, the lowest in decades.

SOAP

The US health regulator FDA has warned that antibacterial chemicals in soaps and body washes may pose a health risk. The agency has proposed a rule that would require manufacturers to prove such soaps are safe and more effective against infection than plain soap and water. Manufacturers have until the end of 2014 to submit the results of clinical trials on their products. The new regulations would be finalized in 2016.

FARMS

Annually, the world produces 588-million tonnes of milk, 124-million tonnes of poultry and 59-million tonnes of beef. Europe and the Americas are the world's epicenters of beef production. Cattle are the biggest source of greenhouse gasses, accounting for more than three-quarters of all emissions from global livestock.

MULTIVITAMINS

Two more studies have been published recently knocking the supposed benefits of multivitamins. Millions of Americans spend billions of dollars each year presumably to boost their health and fill gaps in their diets. However, popping the pills do not protect aging men's brains or help heart attack survivors. The government does not recommend routine vitamin supplementation as a way to prevent chronic diseases.

TRUST

The Harris Poll's annual poll of Americans' of how generally honest and trustworthy 19 large industries are reveals that supermarkets are still the most trusted. 30 per cent say they have faith in supermarkets, followed by hospitals, 28 per cent. Tobacco companies are trusted by only three per cent of those polled.

COLOUR

Radiant Orchid has been chosen as Panatone's Colour of the Year for 2014, after studying worldwide trends and is forecast to the breakthrough shade for this year. For more than a decade Panatone's Colour of the Year has influenced product development and purchasing decisions in multiple industries, including fashion, home and industrial design, as well as packaging and graphic design.

PIANOS

The endorsement of famous musicians has not prevented the closure of centuries-old Western piano makers after decades of struggling to compete with less pricy pianos from the Far East. Of Europe's piano-makers, only nine remain of around 300 that were in business in the first half of the 20th century. Cheap pianos from China dominate the market. Of the 493,000 pianos made worldwide in 2012, nearly four-fifths were made there.

PENSIONS

More British pensioners living abroad will be forced to prove they are alive in order to keep their state pensions. The Treasury says it loses millions every year by paying pensions to friends and relatives of the deceased. The government is sending certificates to those who have retired which they have to get countersigned. By sending the forms out to more pensioners more often, the government aims to bring in an extra US$90-million over two years. The push will only apply to countries such as France that do not automatically share information with the UK.

BIKES

Figures from industry bodies indicate that bicycles outsold cars in 26 of the European Union's 28 states in 2012. Italy was typical of many southern European states with 1.6-million bikes bought as against 1.4-million cars.

REINDEER

Increasing demand for reindeer meat is putting pressure on Finland's stocks. Producers have turned down orders from Germany, France and Spain because they are already struggling to cater for the domestic market. Declining production means Finnish herders will sell fewer than 80,000 animals for slaughter this year. A recent request from a Germany company for 100,00 animals was refused. Some processors are already importing carcasses from Russia to help meet demand.

NUTS

Recent food market research finds that nuts are among the top 10 snack-oriented convenience foods for US consumers motivated by health and weight needs. Nuts are a popular snack for breakfast and morning snack but are eaten throughout the day by those who want a nutritious, natural, good-for-you snack. 77 per cent of US households have nuts or seeds on hand.

GRAIN

World production of grains will rise by 7 per cent to a record 2.5-billion tonnes in the 2013-2014 crop year, according to the Food and Agriculture Organization. This will boost global end-season stocks in 2014 by 11 per cent to 568-million tonnes. Coarse grains, mostly maize, will account for the bulk of the increase. American farmers have planted the biggest acreage of maize since 1936.

TAXES

The UK taxman has compiled a list of the most bizarre excuses for sending in a late tax return, including a builder who claimed to be mourning the death of his goldfish and a farmer who had a run-in with a cow. Both were fined $200 for late filing.

Thank you for reading the A & A Economic News Digest. For more information visit our website www.aacb.com or contact A & A Contract Customs Brokers Ltd. at strehler@aacb.com.

Past issues of the A&A Economic News Digest can be found at http://www.aacb.com/publications/ed/index.asp

January 2014 Economic Digest - Importing and Exporting

January 2014 Edition

ELEVATORS

After a decade of development at its laboratory in Kohja, which sits above a 333-metre-deep mineshaft, the Finnish elevator manufacturer Kone announced that it has devised a system that should be able to lift an elevator a kilometre (3,300 feet) or more. This is twice as far as they can go at present. Effectiveness of lifts is one of the main constraints on the height of buildings. Kone's technology replaces the steel cables by which lift cars are presently suspended with ones made of carbon fibres which weigh 45 per cent less than steel.

AFRICA

Nigeria is hoping that a new investment protection treaty with Canada will help double trade with Canada between the two countries by 2015 but particularly outside the African nation's dominant oil industry. Bilateral trade with Nigeria reached C$2.3-billion last year, having doubled since 2006. However, Canadian direct investment totalled just $36-million. The new treaty will provide reassurance for Canadian mining companies that they will not see their investments nationalized.

TRENDS

In the past month, only 3 per cent of Britons used a phone box to make a call. Calls from boxes have fallen by over 85 per cent in the past five years. In rural areas, over 12,000 phone boxes are used for just one call a month and over 70 per cent are losing money. Payphone kiosks in other countries are falling out of fashion too. Almost 100,000 have been removed in France since 2000. In Austria, 30 booths have been converted into charging stations for electric cars. In Japan, an art group in Osaka has converted some into aquariums.

CHARGING

The PowerPot is an ingenious device targeted at campers that allows people to charge a mobile phone while they are cooking. The device hides a thermoelectric generator inside a normal looking cooking pot. When filled with water over a heat source it begins to generate electricity for charging USB devices. A five watt model charges an iPhone twice as fast as connecting it to a computer over USB. The pot is perfect for campers, backpackers and emergency-preparedness people and even has an application for use in developing nations.

CLIMATE

Experts from the Asian Development Bank forecast that climate change could chop an average of 5.3 per cent off annual gross domestic product in East Asia by 2100 if four countries in the area don't take measures to tackle it. Rising temperatures in China, Japan, Mongolia and South Korea will spur more flooding and tropical storms in coastal areas and make northern agricultural regions more prone to drought. China's model of economic growth at all costs has made it the world's biggest carbon emitter and has blanketed cities in smog that can surpass the UN's recommendations by almost 40 times.

W-F

Researchers have tested an underwater w-f network in a lake in an attempt to make a deep-sea Internet. The team say that the technology could help to detect tsunamis, offering more reliable warning systems. They aim to create an agreed standard for underwater communications to make interaction and data-sharing easier. Unlike normal w-f, which uses radio waves, the submerged network technology utilizes sound waves.

SUGAR

A fire in Brazil's largest port has burnt some 180,000 tonnes of raw sugar, damaging six warehouses and pushing international prices to a one-year high. Brazil is the world's main sugar exporter, accounting for nearly half of international sales. This is the biggest fire in the history of the port of Santos, which exported 12.8-million tonnes of sugar in the first eight months of last year. The cause of the fire is still unknown and four other sugar warehouses in the terminal are operating normally.

BEETLES

An invasive species of beetle that has killed tens of millions of ash trees in North America could spread across Europe. The emerald ash borer, first recorded in the Moscow area in 2007 has now become established in surrounding broadleaf woodlands. The pest, which is expected to cost the US economy US$10-billion has spread up to 25 miles each year has now been found 235k west and 220k south of the Russian capital.

PROSPECTING

Scientists have found that gold is found in the leaves of some plants. Researchers from Australia say that the presence of the particles in a eucalyptus tree's foliage indicates that deposits are buried many metres below. They believe that the discovery offers a new way to locate the sought-after metal in difficult-to-reach locations. Using the Australian synchrotron, a vast machine that uses X-rays to probe matter in remarkable detail, they found traces of gold in the leaves, twigs and bark of some trees.

TRADE

America depends less on international trade than many other countries. Its imports and export of goods add up to less than 25 per cent of GDP. China's are nearly 50 per cent and Irelands nearly 90 per cent. It is not because Americans are insular but because the vibrant domestic market is so big. America moved US 20-trillion in merchandise in 2010, or more than 100 per cent of GDP, if trade between cities is counted. The top 20 metropolitan areas count for almost a third of the total. St. Louis and Detroit are busier traders than the Netherlands.

TUNNELLING

A railway tunnel underneath the Bosphorous has opened creating a new link between the Asian and European shores of Istanbul. Work began in 2004 but archaeological excavations delayed the construction. Japan gave US$1-billion towards the $4-billion total cost of the 1.4km tunnel which is designed to withstand earthquakes.

JAPAN

The population across the Japanese archipelago dropped by around 284,000 to an estimated 127.5-million last year. The number of people aged 65 or over surpassed 30-million for the first time, accounting for 24 per cent of the population, in contrast to children aged 14 and under which decreased to a record low of 13 per cent.

SMOKING

A new survey in Ontario and Quebec shows that smoking, the smell of which gets absorbed into carpets, walls and ceilings, can reduce the resale value of a home by nearly 30 per cent. With an average home in Ontario listed at C$369,000 that means a loss of $107,100 for homeowners.

FLAVOUR

The Belgian post office is issuing a new set of stamps that smell and taste like chocolate. More than 500,000 stamps are being printed on special paper with a cocoa-scented varnish and chocolate tasting glue.

CLOTHING

A group of clothing makers say they will stop using fibres made from endangered forests, a move aimed at limiting environmental damage. One third of the 70-million trees cut down each year to make cheap clothing fibres come from places such as Canada's northern boreal forest, the rainforests on the West Coast and Indonesia. Demand for cheap fabric is growing as the world's US$2.7-billion garment industry looks for ways to cut costs while meeting consumer desire for inexpensive clothing.

TASTE

A French restaurant has been forced to turn customers away since it began serving insect-based entrées three months ago. The head chef regularly imports grasshoppers, beetles and water scorpions from Thailand for about US$720 a kilogram which arrive salted and in sealed packages. The dead insects have become the core ingredient in dishes served in the restaurant which has more than doubled its business in less than a month. Last spring, the UN's Food and Agriculture Organization encouraged the practice, citing that insects are a good source of protein, good fats, calcium, zinc and iron.

INFRASTRUCTURE

The Colombian government is seeking to assure Canadian financiers of the safety of investing in its plans to build 8,000 kilometres of roads through the mountainous South American country. Colombia, which has a free-trade agreement with Canada, expects to spend US$25-billion by 2020 on new roads and highways, some of which will be built up and down three mountain ranges to allow easier travel between the capital Bogota and the Pacific coast. It is an ambitions project. By comparison, the expansion of the Panama Canal is a $5-billion project.

AUTOS

The days of Ontario bragging about being the largest automaking jurisdiction in Canada and the United States are coming to an end. Michigan has roared into first place in vehicle manufacturing among states and provinces last year, knocking Ontario off the perch it has enjoyed since 2004. Michigan and some other states have been the biggest beneficiaries of the robust recovery in the US market that has the Detroit Three auto makers rushing to boost production as quickly as they can.

INVENTIONS

A company founded by some Apple employees has redefined the unglamorous smoke detector with a new Internet-connected device. The new product is a smoke and carbon monoxide detector that uses wireless technology. The device has different sensors for smoke and steam (so no more alarms when you are boiling pasta) and can warn residents of rising CO levels with its own speaking voice. And when the battery runs low it sends the owner a message instead of chirping around 3.00am.

ADVERTISING

Because of improved stability in the advertising market, it is expected that global advertising expenditures will have reached US$503-billion in 2013 having risen 3.5 per cent. In Canada, advertising revenues grew by 2.7 per cent to $11.3-billion with spending on Internet advertisements exceeding TV slightly.

TRANSPORT

Oil shipments by train jumped in 2013 as pipelines exceeded capacity. In the first half of 2013, the amount of oil and refined petroleum products transported by rail reached 356,000 carloads, up 48 per cent over 2012. This is the equivalent of 1.37-million barrels per day, nearly 20 per cent of US daily crude production. In Canada, where only 500 carloads were shipped in 2009, 2013 saw about 140,000 carloads shipped, about 286,000 barrels per day, a 280-fold increase in just four years.

DRUGS

Maine's new law that allows for international prescription-drug imports is the first in the US. The Maine State Employees Association has a pending contract with a Canadian broker to provide some 200 brand medications from licensed pharmacies to as many as 13,000 state employees plus their dependents. The contract could save the union's health plan and Maine taxpayers between US$3-million and 5-million a year.

VEHICLES

The new Canada-European trade agreement will provide a boost for European auto makers, who have posted gains in their Canadian market share for the past decade. The key to larger gains is the elimination of a 6.1 per cent tariff that applies to vehicles imported into Canada from outside North America. This will be a major benefit for luxury car makers in Germany and Britain. The tariff will remain in place on vehicles imported from their home countries by Japanese and South Korean manufacturers.

Thank you for reading the A & A Economic News Digest. For more information visit our website www.aacb.com or contact A & A Contract Customs Brokers Ltd. at strehler@aacb.com.

Past issues of the A&A Economic News Digest can be found at http://www.aacb.com/publications/ed/index.asp