December 22, 2023

World Trade Monitor October 2023

World Merchandise trade increased with 0.4% in October 2023 compared to the previous month, following an increase of 0.3% in September. This is evident from the monthly CPB World Trade Monitor. Most noteworthy is the increase of imports of China (+4.5%) and other emerging Asia (+7.1%), the United Kingdom (+6.1%) and Japan (+3.1%). However the imports of other advanced economies (-2.4%), Eastern Europe (-3.6%) and Latin America (-1.4%) all decreased. The exports increased particularly in Japan (+1.0%) and other advanced Asia (+3.8%). But the exports of China (-4.2%) and Eastern Europe (-8.6%) decreased.

The CPB World Trade Monitor shows that the volume of world trade increased 0.4% in October, having increased 0.3% in September (initial estimate 0.7%).

  • Developments in global international trade and industrial production October 2023:
  • World trade volume increased 0.4% month-on-month (growth was 0.3% in September, initial estimate 0.7%).
  • World trade momentum was 0.1% (non-annualised; -0.6% in September, initial estimate -0.4%).
  • World industrial production increased 0.0% month-on-month (having increased 0.2% in September, unchanged from initial estimate).
  • World industrial production momentum was 0.6% (non-annualised; 0.7% in September, initial estimate 0.8%).

The next release of the CPB World Trade Monitor is scheduled for 25 January 2023, 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

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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