May 24, 2024

World Trade Monitor March 2024

World Merchandise trade decreased with 0.6% in March 2024 compared to the previous month, following an increase of 1.6% in February. Growth during the first quarter of 2024 was 0.3%. This is evident from the monthly CPB World Trade Monitor. Most noteworthy is the increase of imports of China (+6.3%) and Japan (+3.8%). On the other hand, the imports of the United States (-2.2%), the United Kingdom (-2.8%) and emerging Asia excluding China (-5.1%) decreased. The exports increased particularly in Japan (+3.4%) and other advanced economies (+1.2%). But the exports of the United States (-3.1%), the United Kingdom (-2.4%) and other advanced Asia (-2.2%) decreased.

Developments in global international trade and industrial production March 2024:

  • World trade volume decreased 0.6% month-on-month (growth was 1.6% in February, initial estimate 1.0%) and growth was 0.3% in 2024Q1 (0.4% in 2023Q4).
  • World trade momentum was 0.3% (non-annualised; 0.3% in February, initial estimate 0.0%).
  • World industrial production decreased 0.3% month-on-month (having increased 0.7% in February, initial estimate 0.6%) and growth was 0.2% in 2024Q1 (0.6% in 2023Q4).
  • World industrial production momentum was 0.2% (non-annualised; 0.4% in February, initial estimate 0.0%).

The next release of the CPB World Trade Monitor is scheduled for 25 June 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 April 2024 will be published on June 25th. If you have any questions, please contact

You can also read 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').

If you want to receive an email alert every time CPB publishes its update of the world trade monitor, please subscribe to our alert service on this page ('Publications for policymakers').

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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