World trade dropped slightly in March

World trade fell by just 0.2% in March compared to February, contrary to expectations. Russia's trade figures, which are no longer available, are estimated based on data from the largest trading partners. The sanctions against Russia are reflected in a sharp drop in Russian imports (-39.6%). Surprisingly, the Russian export increase is positive at 18.1%. This is probably due to an increase in oil and gas exports in combination with higher energy prices. The advanced economies imported more, especially the EU, the US and the UK, while the imports of the emerging economies fell sharply by 4.7%, with mainly China (-12%) and Eastern European CIS countries (-16.4%). Exports from advanced economies declined slightly by 0.7% and those from emerging economies increased slightly by 0.7%.