October 23, 2020

CPB World Trade Monitor August 2020

In August 2020 world trade grew again, by 2.5% compared to July 2020. This is less than the growth in July, which was 5.0% compared to June. In total, world trade is now 3 to 4% below the pre-corona level. Europe shows a strong export growth of 4.0%. Japanese exports are also growing strongly by 6.6%, while imports continue to fall (-2.1%). The growth of exports of the United States and China are average at 2.5% and 2.3% respectively; imports shows a similar growth with 2.3% and 3.4% respectively.

Read the complete accompanying press release.

Developments in global international trade and industrial production August 2020:

World trade volume increased 2.5% month-on-month (growth was 5.0% in July, initial estimate 4.8%).
World trade momentum was 6.8% (non-annualised; -3.9% in July, initial estimate -4.0%).
World industrial production increased 1.0% month-on-month (having increased 3.3% in July, initial estimate 3.1%).
World industrial production momentum was 4.6% (non-annualised; -1.1% in July, initial estimate -1.2%).

Note: From this publication onwards we have divided the region ‘’Asia excl China’’ into two separate regions, namely: ‘’Advanced Asia excl Japan’’, encompassing Hong Kong, Korea, Singapore, Taiwan, and ‘’Emerging Asia excl China’’.

The next release of the CPB World Trade Monitor is scheduled for 25 November 2020, 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).