July 25, 2022

World Trade Monitor May 2022

World trade increased by 2.5% in May 2022 compared to April. Russia's trade figures, which are no longer available as of March, are estimated based on data from the largest trading partners. Estimates of the Russian export price index are now more closely linked to oil and gas price developments. The advanced and emerging economies exported and imported more. The US is the only exception and shows negative developments on both imports (-0.6%) and exports (-1.4%). Exports (13.0%) and imports (7.0%) from China have risen sharply, partly as an advance on the end of the lockdown in Shanghai on June 1, which allowed the port to run almost on full capacity again.

Developments in global international trade and industrial production May 2022

  • World trade volume increased 2.5% month-on-month (growth was 0.0% in April, initial estimate 0.5%).
  • World trade momentum was -0.6% (non-annualised; -0.8% in April, initial estimate -0.3%).
  • World industrial production increased 0.4% month-on-month (having decreased 2.3% in April, initial estimate -2.7%).
  • World industrial production momentum was -1.3% (non-annualised; 0.9% in April, initial estimate 1.0%).

The next release of the CPB World Trade Monitor is scheduled for Thursday 25 August 2022, 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').

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).


Read more about