Category: For Business

As of 2024, the United Kingdom’s economy is characterized by its strong services sector, advanced manufacturing, and a robust trade network.

Key Economic Sectors 👇

👉 Services
The services sector dominates the UK economy, accounting for approximately 79% of GDP. This includes financial services, IT, and creative industries. Exports of services have grown significantly, reaching £479.4 billion in the 12 months ending September 2024, with the United States being the top destination.

👉 Manufacturing and Technology
Advanced manufacturing and pharmaceuticals remain vital, alongside an emerging focus on green technologies.

👉 Energy
The UK continues to invest in renewable energy projects, aiming to strengthen its position in sustainable energy production.

Top Export Products 👇

👉 Goods
Major exports include machinery, vehicles, pharmaceuticals, and aerospace products. The automotive and aerospace sectors are particularly vital to the UK’s trade portfolio.

👉 Services
Financial services, insurance, and telecommunications are key export strengths, with significant contributions from digital and creative services.*

The United States is the UK’s largest trade partner, followed by Germany, Ireland, and France. Other significant partners include the Netherlands and Switzerland.*

The European Union remains a crucial market, accounting for around 42.5% of UK exports in 2023, though trade with non-EU countries has grown faster in recent years.

While the UK continues to grapple with challenges such as trade deficits and global competition, its strong service-oriented economy and diversification of trade partnerships position it well for future growth. Let me know if you need more specifics!

Nova Global offers reliable parcel shipping services between businesses and the United Kingdom, while also exploring new opportunities within the E-commerce sector.

*Source: https://www.gov.uk/government/statistics/trade-and-investment-core-statistics-book/trade-and-investment-core-statistics-book

Moldova’s economy has significantly transformed in recent years, shifting from traditional sectors to more diversified industries.

In 2022, the country experienced a 5% economic contraction*. However, sectors such as Information and Communication Technology (ICT), manufacturing, and automotive industries emerged as significant contributors to the economy. This shift underscores a strategic diversification of the economy and a move towards more technologically advanced industries.

Key Economic Sectors👇

1️⃣ Agriculture
Historically, agriculture has been a cornerstone of Moldova’s economy, producing large amounts of fresh and processed fruits and vegetables, walnuts, honey, meat, dairy products, and poultry.

2️⃣ Information and Communication Technology (ICT)
The ICT sector has seen substantial growth, contributing significantly to the country’s GDP.

3️⃣ Manufacturing and Automotive Industries
The manufacturing sector, including automotive production, has become a cornerstone of Moldova’s economy, contributing approximately 13.5% to total exports in 2022.

Moldova’s trade dynamics have evolved, with the European Union (EU) becoming its primary trading partner. In 2022, Moldova’s exports to the EU reached USD 2.53 billion, accounting for 49.3% of total exports. Imports from the EU rose sharply to EUR 4.36 billion, led by mineral fuels and machinery**.

Other significant trading partners include Romania, Ukraine, China, Turkey, and Germany. Imports from these countries encompass mineral fuels, machinery, and chemicals.

Overall, Moldova’s economy is transitioning towards a more diversified and technologically advanced structure, with the EU playing a pivotal role in its trade relations.

Nova Global provides businesses with dependable parcel shipping services to and from Moldova and is also exploring opportunities in E-commerce.

*Source: https://invest.gov.md/en/economic-overview-2/
**Source: https://invest.gov.md/en/trade-potential-2/

In 2023/2024, the European cross-border e-commerce market hit €326 billion, with online marketplaces contributing 69% of this total.

Leading platforms like Amazon and eBay maintain significant dominance. However, the top 100 marketplaces have seen a 39.29% growth, reaching €197.01 billion.

Despite projected slight declines in marketplace share by 2025, cross-border GMV continues to grow, with almost all visitors expected to engage in cross-border shopping, signaling ongoing expansion in the sector.

Here are some key takeaways:
The e-commerce landscape is rapidly changing, driven by multichannel strategies and the rise of Chinese marketplaces.

Sellers increasingly diversify their platforms, driven by high Amazon costs, market saturation, and the need for brand independence.

Shein and Temu disrupt global competition with direct-from-manufacturer models, low prices, and social media-driven marketing, though their growth raises regulatory concerns over local business impacts and labor practices.

The success of global e-commerce will depend on how effectively Western companies adapt through innovation and tackle challenges in an increasingly competitive and regulated market.

Read more by following the link:
https://www.cbcommerce.eu/blog/2024/10/10/top-100-cross-border-marketplaces-europe-report-european-cross-border-e-commerce-reaches-new-heights/

As of 2024, Lithuania’s economy continues its recovery, supported by diverse key sectors and strategic trade partnerships.

Key Economic Sectors 👇

Manufacturing remains a vital part of Lithuania’s economy, with a particular focus on chemicals, machinery, and electronics. Lithuania also has a strong reputation in food processing and textiles sectors.

Services contribute a significant portion to the GDP, with growing sectors including IT, finance, and tourism. The digital sector in particular has seen rapid expansion, aided by Lithuania’s favorable business environment for startups.

Agriculture is another important sector, though it has seen some challenges due to market fluctuations and climate conditions. The agricultural landscape includes products like grains, vegetables, and dairy.

Top Export Products (2023) 👇

Petroleum oils and related products (such as fuel) accounted for the largest share of exports, making up around 11.9% of the total export value.

Other significant exports include motor vehicles, furniture, pharmaceuticals, and cereals.

Lithuania also exports chemicals, including medicaments and plastics, contributing to the global supply chain in diverse industries.

Key trade partners include Germany, Poland, Latvia, the United States, and the Netherlands.

Nova Global provides businesses with dependable parcel shipping services to and from Lithuania and is also exploring opportunities in E-commerce.

*Source: https://trendeconomy.com/data/h2/Lithuania/TOTAL

According to the eCommerce Navigator Q3 2024 report, the cost-per-click (CPC) growth has stabilized at 2% year-over-year after several quarters of double-digit inflation. This stabilization allows brands to scale ad volume without proportionate cost increases. Meanwhile, retail media spending grew by 28% year-over-year, significantly outpacing traditional digital advertising.

Amazon remains a dominant player, but Walmart is gaining traction with higher engagement rates (1.2% CTR vs. Amazon’s 0.8%). Walmart’s more stable return-on-ad-spend (ROAS) metrics and growing advertiser investment highlight the increasing competition in this space.

To succeed in this dynamic market, brands should leverage stabilized costs, diversify platform strategies, and balance performance marketing with brand-building initiatives. With retail media projected to account for $140.1 billion globally in 2024, those who adapt effectively will thrive.

Here are some key takeaways:

• Cost Stabilization: CPC growth plateaued at 2% YoY, creating an opportunity to scale ad volume without significant cost hikes.

• Platform Growth: Retail media spending increased by 28% YoY, outpacing traditional digital advertising.

• Future Trends: Brands should balance lower-funnel tactics with brand-building and diversify across platforms for better engagement and ROI.

Read more by following the link: https://www.forbes.com/sites/kirimasters/2024/11/13/retail-media-costs-stabilize-while-competition-heats-up/

As of 2024, Slovakia’s economic state shows signs of moderate growth and stability. The GDP per capita is projected to be around USD 26,714, indicating a steady increase from previous years​​. The Slovak economy is expected to grow by 2.2% in 2024 and 2.9% in 2025, driven by private and public consumption, along with rebounding exports due to stronger external demand​.

Key economic sectors in Slovakia include industry and services, with the services sector contributing about 58.5% of GDP and employing approximately 62% of the workforce. The industrial sector, which includes significant contributions from the automotive and electronics industries, accounts for 28.5% of GDP and employs 36% of the workforce​​.

Slovakia’s top export products include cars, which constitute the largest share of exports at $26.9 billion, followed by motor vehicle parts, video displays, broadcasting equipment, and electricity. The primary export destinations are Germany, the Czech Republic, Hungary, Poland, and France​​.

Key trade partners include Germany, which is the largest destination for Slovak exports, followed by neighboring countries like the Czech Republic and Hungary. This close economic relationship is facilitated by geographical proximity and integrated supply chains within the European Union​​.

Nova Global offers your business reliable parcel shipping to and from Slovakia. We are also interested in E-commerce offers.

In 2022, the Czech Republic was the number 46 economy in the world in terms of GDP and the number 30 in total exports.

Top exports: Cars, Broadcasting Equipment, Motor vehicles; parts and accessories, Computers and Office Machine Parts.

Key partners: Germany, Slovakia, Poland, France and Austria.

In 2023, the Czech Republic was the world’s biggest exporter of Motor cars and other motor vehicles principally designed for the transport of persons ($31 billion) and Parts and accessories of motor vehicles ($16.9 billion).

The Czech Republic is considered a developed country with a high GDP per capita (around $51,000 at purchasing power parity). Manufacturing and services are the two biggest sectors, making up about 75% of the GDP.

The Czech Republic boasts a strong labor market with low unemployment and a well-educated workforce. The tourism industry is also a significant contributor to the economy.

Nova Global offers your business reliable parcel shipping to and from the Czech Republic. We are also interested in E-commerce offers.

Cross-Border Commerce Europe releases the ‘Top 250 Fashion & Beauty Retail Europe,’ highlighting the sector’s €122B market in 2022, set to grow to €144B by 2026.

C2C marketplaces and sustainability trends drive industry dynamics. Despite inflation challenges, online fashion & beauty’s market share is anticipated to exceed 25% by 2026. Key players like Zalando, Amazon, and eBay lead the rankings. The report explores emerging trends, including fast fashion contenders like CIDER and TEMU.

In sports fashion, Nike tops the list, leveraging AI and cutting-edge tech. Founder Carine Moitier acknowledges the market research team for fostering cross-border growth in the industry.

Nova Post has been operating in the Ukrainian market since 2001. Throughout these years, we have been creating new companies and products. Now, we proudly present NovaPay, which opens accounts for clients. Nova Digital offers IT solutions that ensure the safety of loved ones and protect businesses from cyber-attacks. Nova Global is a company focused on satisfying the needs of global e-commerce, providing customized logistics solutions for successful entry into new and existing markets. Besides delivery, Nova Post itself sells fulfillment services, freight transportation, and operates in Europe.

We are much more than just a postal service, so we are removing this word from the name of our group of companies and adopting the broad, barrier-free name — NOVA.

Nova Post, as a logistics operator, remains Nova Post. There will be no rebranding or logo changes. The changes apply only to the name of the group of companies. Nova Post stays as Nova Post.

The main goal of the NOVA group is to ensure easy delivery of anything for life and business. Currently, this includes parcels, money, and technology, but we do not intend to stop there. All NOVA companies implement a common strategy and are guided by the same values: Fast – Easy – Safe – Human – Tech – Growth.

The NOVA group of companies comprises:

Nova Post in Ukraine — delivers documents, parcels, large cargoes, and also provides freight transportation and fulfillment services. It has the most accessible network for clients: 11,400 branches and 15,500 postal terminals throughout Ukraine. It delivers countrywide within 24 hours, and within the same day in the city.

Nova Post Europe — a company providing a full range of logistic services for both private individuals and business clients, ensuring fast and reliable delivery of documents, parcels, and cargoes across Europe, as well as between the EU and Ukraine. It has already opened its representations in 11 countries: Moldova, Poland, Lithuania, Czech Republic, Romania, Germany, Slovakia, Estonia, Latvia, Hungary, and Italy. It has 35,000 service points, of which 83 are Nova Post’s own branches.

NovaPay — a non-banking financial institution developing its own international payment system and providing financial services to private clients and businesses. NovaPay handles 2.6 million transactions per day. It is a full participant in the international payment systems (IPS) Visa and MasterCard. The company is certified according to the international standard for payment card industry data security PCI DSS. At the end of 2023, the company launched an app for clients to open settlement accounts.

Nova Global — a company focused on satisfying the needs of global e-commerce, providing customized logistics solutions for successful entry into new and existing markets. We simplify cross-border trade, ensuring convenience and efficiency for clients expanding their businesses abroad, and handling customs and tax intricacies seamlessly. Leveraging digital tools, we overcome limitations and engage with regulatory systems, ensuring guaranteed outcomes in new markets.

Supernova Airlines provides fast delivery to its clients from any point in the world. The company has already made dozens of flights between European countries. Soon it will begin transcontinental flights with cargo planes.

IT company Nova Digital is a powerful developer of web applications and software for architectures of any complexity and load. Nova Digital creates and services software products that process 30,000 operations per second. Its solutions have been tested by 32 million private and business users of Nova Post.

In 2023 Nova Global plays a role in shaping global commerce, fostering connections between cultures, and contributing to a more interconnected world. Let’s delve into the numbers:

🇺🇸 US GDP and Population: with a monumental GDP of over 25462, 70 Billion USDT and a population exceeding 331 million, the United States stands tall as a global economic powerhouse, with Nova Global at the heart of its international commerce.

🇪🇺 Europe: 500 925 is the number of packages Nova Global has sent from the U.S. to Europe in 2023.

Nova Global connects the U.S. with Europe on an unprecedented scale, bolstering transatlantic trade. Europe itself boasts a confident GDP, ranking as one of the world’s largest economic entities.

The future: Nova Global continues to reshape global commerce, connecting cultures, and making the world more interconnected. Join us in this exciting journey.