January 25, 2021

World Trade Monitor November 2020

World trade volume increased 2.1% in November 2020 compared to October, following an increase of 0.7% in October and seems to be unaffected by COVID measures. With this, the world trade volume is slightly higher than at the end of 2019, pre-COVID. Import growth is mainly driven by developed economies. Although imports from China actually fell by -1.3%, Chinese exports grew with 5.6%. Export growth in Latin America (-3.6%) and the US (0.4%) are lagging behind relative to that of developed economies. After the low point in May, world trade has grown continuously.

Read the complete accompanying press release.

Developments in global international trade and industrial production November 2020:

  • World trade volume increased 2.1% month-on-month (growth was 0.7% in October, unchanged from initial estimate).
  • World trade momentum was 6.8% (non-annualised; 9.9% in October, initial estimate 10.2%).
  • World industrial production increased 1.1% month-on-month (having increased 0.8% in October, initial estimate 0.7%).
  • World industrial production momentum was 4.2% (non-annualised; 6.1% in October, initial estimate 6.0%).

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