Global Business Update
Tesla Inc. reported a 20% increase in sales in Norway for the first quarter of the year, with 7,124 vehicles sold. This represents a significant growth from the same period in the previous year.
Malaysian Labor Market
According to the Malaysian Department of Statistics, the labor participation rate in Malaysia increased to 68.3% in the first quarter of the year, up from 67.8% in the same period in 2022. The employment rate also rose to 67.8%, while the unemployment rate decreased to 3.3%.
US Trade Policies
The US government announced a new trade agreement with the European Union, aimed at reducing tariffs on certain goods. The agreement will also establish a framework for cooperation on trade and investment issues. Additionally, the US Trade Representative’s office released a report on the impact of trade policies on the US economy, highlighting the benefits of free trade agreements.
Global Trade Developments
The World Trade Organization (WTO) reported a 1.5% increase in global trade volumes in the first quarter of the year, driven by growth in Asia and Europe. The WTO also noted a decline in trade tensions between major economies, citing a decrease in the number of trade disputes filed with the organization.
Key Statistics
- Tesla sales in Norway: 7,124 vehicles (Q1 2023)
- Labor participation rate in Malaysia: 68.3% (Q1 2023)
- Employment rate in Malaysia: 67.8% (Q1 2023)
- Unemployment rate in Malaysia: 3.3% (Q1 2023)
- Global trade volumes: 1.5% increase (Q1 2023)