October 25, 2021

World Trade Monitor August 2021

The world trade volume increased 0.8% in August 2021, compared to July, when trade growth was -1.4%. Despite the positive monthly growth figure, the momentum of world trade remains negative for the second month on a row, and stands at -0.9%. The momentum calculates growth in global trade volume over the past three months compared with the three months prior to that. The negative momentum can be mainly explained by the negative trend in China’s trade since the second quarter of this year. This decline follows a period of strong recovery after the steep drop in global goods trade when the COVID-19 crisis erupted.

Developments in global international trade and industrial production August 2021:

  • World trade volume increased 0.8% month-on-month (growth was -1.4% in July, initial estimate -0.9%).
  • World trade momentum was -0.9% (non-annualised; -0.7% in July, initial estimate -0.4%).
  • World industrial production decreased 0.4% month-on-month (having increased 0.0% in July, unchanged from initial estimate).
  • World industrial production momentum was 0.3% (non-annualised; -0.2% in July, initial estimate -0.3%

The next release of the CPB World Trade Monitor is scheduled for Thursday 25 November 2021, 12:00 hours.

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 2020)'. 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').

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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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