November 25, 2020

World trade recovery slowed down in September

In September 2020, world trade grew by 2.1%, compared to August 2020. This is again less than the growth in August and July, when world trade increased by 2.4% and 5.0% respectively. In total, world trade is now almost 2% below the pre-corona level.
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What is striking is the recovery of imports in emerging economies of + 6.1%, with imports in China and Latin America in particular growing rapidly at 6.7% and 11.1% respectively. For the advanced economies, imports increased by only 1.3%. We see the opposite in exports. Global export growth of 1.5% is largely due to advanced economies, especially Japan, where exports are up 5.3%. Emerging economies are exporting only 0.3% more. Remarkably, China exports 3.8% less compared to August.

Global industrial production picked up slightly in September by 0.9%, up from August. There has been a decline in a number of regions, including the Eurozone and the United States, where industrial production fell slightly by 0.2% and 0.4% respectively.

The monthly CPB World Trade Monitor is published on behalf of the European Commission. It takes two months for the figures to be available.

Look at the CPB World Trade Monitor.

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