In October 2020, world trade grew again by 0.7% compared to September 2020. Due to continued growth in world trade since June, trade growth is still about 0.7% below the level at the end of 2019. The growth in October is, however, a lot lower than in September, when world trade increased by 2.7%. The months of November and December, which saw a rapid spread of COVID-19, can still have a negative impact on world trade, but the CPB has no data on this yet.
Read the complete accompanying press release.
Developments in global international trade and industrial production October 2020:
- World trade volume increased 0.7% month-on-month (growth was 2.7% in September, initial estimate 2.1%).
- World trade momentum was 10.2% (non-annualised; 12.5% in September, unchanged from initial estimate).
- World industrial production increased 0.7% month-on-month (having increased 1.3% in September, initial estimate 0.9%).
- World industrial production momentum was 6.0% (non-annualised; 7.9% in September, initial estimate 7.6%).
The next release of the CPB World Trade Monitor is scheduled for 25 January 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 firstname.lastname@example.org.
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).
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Yes. All trade flows in the WTM are gross.
No. WTM trade flows are based on monthly Customs data and include goods trade only. Cross-border goods flows measured this way generally do not coincide with goods trade as reported in national accounts.
Volume series are series in constant dollar prices, that is base year prices. In the base year, the year total of volume equals the year total of nominal value and the year average of the price index equals 100. The base year currently is 2010. (See technical note Change of base year. (appendix)) At the level of individual countries, either import/export volume is computed from import/export value and import/export price or price is computed from import/export value and import/export, depending on the availability and reliability of data. Aggregate (regional) series in constant prices are the sums of country series in constant prices; aggregate prices are computed from aggregate value and aggregate volume.
See Table 2.1 (industrial production) and Table 2.2 (international trade) in the Background Document 'Technical Description'.