October 25, 2023

World Trade Monitor August 2023

World Merchandise trade increased with 0.4% in August 2023 compared to the previous month, following an decrease of 0.7% in July. This is evident from the monthly CPB World Trade Monitor. Most noteworthy is the decrease of imports of Japan (-3.6%), United States (-1.6%), Eastern Europe (-1.3%) and the United Kingdom (-1.0%). The imports of the eurozone decreased to a lesser degree with -0.4%. However, the imports of China increased with 2.6%. With regards to the exports, the decreases of Japan (-6.1%) and United Kingdom (-6.1%) are striking. On the other hand, the exports of China (+5.3%), other advanced economies (+3.3%), emerging Asia excluding China (+1.4%), the United States (+1.2%) and the eurozone (+0,8%) all increased.

Developments in global international trade and industrial production August 2023

  • World trade volume increased 0.4% month-on-month (growth was -0.7% in July, initial estimate -0.6%).
  • World trade momentum was -1.1% (non-annualised; -0.5% in July, initial estimate -0.4%).
  • World industrial production increased 0.7% month-on-month (having decreased 0.2% in July, initial estimate -0.1%).
  • World industrial production momentum was 0.6% (non-annualised; 0.1% in July, unchanged from initial estimate).

The next release of the CPB World Trade Monitor is scheduled for Friday 24th November 2023, 12:00 hours, including reporting month September 2023.

CPB publishes a World Trade Monitor every month on behalf of the European Commission. It takes two months for the figures to become available. For questions please contact wtm@cpb.nl.

Read also the CPB Background Document 'The CPB World Trade Monitor: technical description (update 2023)'. In September 2016 (starting with the July 2016 monitor) the WTM base year has been moved from 2005 to 2010. Clarification of the procedure and its outcomes is given in the downloadable appendix (CPB Memo 'Change of base year WTM').

If you want to receive an email alert every time CPB publishes its update of the world trade monitor, please subscribe to our alert service on this page ('Publications for policymakers').

The World Trade Monitor is partially financed by DG ECFIN (Directorate General of Economic and Monetary Affairs of the Economic Commission).


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