April 25, 2023

World Trade Monitor February 2023

World merchandise trade declined with 0.9% in February 2023 compared to the previous month, following an increase of 0.3% in January compared to December of last year. Most noteworthy is a general decline in imports in advanced economies of 2.1%. The imports of the United States (-4.2%) and the United Kingdom (-6.1%) both fell back considerably. China showed a slight increase in imports and exports (both +0.6%). The eurozone saw a decline in imports (-1.6%) but an increase in exports (+1.0%). This is evident from the monthly CPB World Trade Monitor.

Developments in global international trade and industrial production february 2023

  • World trade volume decreased 0.9% month-on-month (growth was 0.3% in January, initial estimate -0.1%).
  • World trade momentum was -2.2% (non-annualised; -2.7% in January, initial estimate -3.0%).
  • World industrial production increased 1.2% month-on-month (having increased 0.7% in January, initial estimate 0.0%).
  • World industrial production momentum was 0.4% (non-annualised; -0.5% in January, initial estimate -1.0%).

The next release of the CPB World Trade Monitor is scheduled for Thursday 25 May 2023, 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 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').

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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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