May 25, 2021

World Trade Monitor March 2021

The world trade volume in goods has increased again, by +2.2% compared to February, following +0.1% the month before. This brings the quarterly growth to +3.5%. On the import side, the increase is greater (3.5%) than the export side (0.9%). This rise in imports is being driven by the emerging economies and, to a slightly lesser extent, by the developed economies. On the export side, we see growth for the developed economies, with peaks in the UK, the US and Latin America, but a decline for emerging economies, which is mainly driven by China.

Developments in global international trade and industrial production March 2021:

World trade volume increased 2.2% month-on-month (growth was 0.1% in February, initial estimate 0.3%) and growth was 3.5% in 2021Q1 (3.9% in 2020Q4).
World trade momentum was 3.5% (non-annualised; 2.8% in February, initial estimate 2.9%).
World industrial production increased 0.3% month-on-month (having decreased 0.6% in February, initial estimate -0.3%) and growth was 2.7% in 2021Q1 (3.6% in 2020Q4).
World industrial production momentum was 2.7% (non-annualised; 3.5% in February, initial estimate 3.7%).

The next release of the CPB World Trade Monitor is scheduled for 25 June 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).