August 25, 2023

World Trade Monitor June 2023

World Merchandise trade decreased with 0.7% in June 2023 compared to the previous month, following an increase of 0.5% in May. This is evident from the monthly CPB World Trade Monitor. Most noteworthy is the decrease of imports of the eurozone (-3.7%), the United Kingdom (-2.5%) and emerging Asia excluding China (-6.7%). However, the imports of China increased with 3.6%. Furthermore the imports of Japan and advanced Asia both increased with 2.8%. With regards to the exports, the increase of Japan is striking (+5.2%). The exports of the United Kingdom and the United States increased with 0.6%. Also, the exports of China (+2.5%) increased. However, the exports of the eurozone (-1,0%), emerging Asia excluding China (-3.2%), Eastern Europe (-6.4%) and Latin America (-2.3%) all declined.

Developments in global international trade and industrial production June 2023

  • World trade volume decreased 0.7% month-on-month (growth was 0.5% in May, initial estimate 0.3%) and growth was -0.3% in 2023Q2 (-0.8% in 2023Q1).
  • World trade momentum was -0.3% (non-annualised; 0.8% in May, initial estimate 0.7%).
  • World industrial production increased 0.4% month-on-month (having increased 0.3% in May, initial estimate 0.0%) and growth was -0.5% in 2023Q2 (0.8% in 2023Q1).
  • World industrial production momentum was -0.5% (non-annualised; -0.1% in May, unchanged from initial estimate).

The next release of the CPB World Trade Monitor is scheduled for Monday 25 September 2023, 12:00 hours, including reporting month July 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

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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