March 25, 2024

World Trade Monitor January 2024

World Merchandise trade increased with 0.9% in January 2024 compared to the previous month, following an increase of 0.8% in December. This is evident from the monthly CPB World Trade Monitor. Imports increased especially in emerging Asia excluding China (+4.0%), Latin America (+3.8%), China (+2.5%) and United Kingdom (+1.8%). At the same time the decrease of imports of Japan (-9.7%) is striking. Also the imports of the eurozone (-2.4%) decreased. Exports increased in particular in China (7.4%) and in emerging Asia excluding China (+3.8%). In addition, the imports for other advanced economies (+1.9%) and the eurozone (+1.4%) increased. Noteworthy is the strong decrease of exports in Japan (-4.6%).

Developments in global international trade and industrial production January 2024:

  • World trade volume increased 0.9% month-on-month (growth was 0.8% in December, initial estimate 1.0%).
  • World trade momentum was 0.0% (non-annualised; 0.4% in December, initial estimate 0.5%).
  • World industrial production decreased 0.5% month-on-month (having increased 0.4% in December, initial estimate 0.5%).
  • World industrial production momentum was 0.4% (non-annualised; 0.6% in December, initial estimate 0.5%).

The next release of the CPB World Trade Monitor is scheduled for 25 April 2024, 12:00 hours.

The monthly CPB World Trade Monitor is an instrument with which CPB monitors the development of world trade and is published on behalf of the European Commission. It takes two months before the figures are available. The next CPB World Trade Monitor for the reporting month of February 2024 will be published on 25th April. If you have any questions, please contact

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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