XSI® Far East

Far East Exports

· The XSI® for Far East Exports is yet again the index that grew the most in August, up by 10.7% from July. This is a slight reduction in the pace of growth after it rose by 12.6% in July.

· The sub-index now stands at 197.9 points – the highest of the seven XSI® sub-indexes in August.

· Far East Export is the only sub-index which is higher in August 2024 than it was in August 2023, up a considerable 22.3%.

· The growth is largely driven by exports from the Far East to the US, particularly those originating in Japan and South Korea. The average valid long term rate from Japan to the US West Coast is 167% higher in August this year compared to last year, while rates from South Korea to the US West Coast are up by 106%.

Far East Imports

· The Far East Imports sub-index fell to 90.5 points in August, the lowest it has been since the XSI® was established in 2017.

· It fell by 3.8% month-on-month, marking a slowdown in the rate of decrease from July (-15.7%), but just as in July, it is still the sub-index with the biggest month-on-month drop in August.