August 25, 2020

CPB World Trade Monitor June 2020

World trade rebounds in June with a strong catch-up growth of 7.6% compared to May. There was growth in almost all countries, except in Japan, where imports fell even further (-2.6%). Also in China and Eastern-Europe there is a fallback in exports, and in Africa and the Middle East imports and exports fell somewhat further. This brings the fall in world trade in the second quarter of 2020 to -12.5%, on top of the -2.7% in the first quarter. Industrial production also continues to recover, with 4.8% growth in June (compared to May). With this, global production is still 8% lower than at the end of last year.

Developments in global international trade and industrial production June 2020:

World trade volume increased 7.6% month-on-month (growth was -1.1% in May, unchanged from initial estimate) and growth was -12.5% in 2020Q2 (-2.7% in 2020Q1).
World trade momentum was -12.5% (non-annualised; -11.7% in May, initial estimate -11.6%).
World industrial production increased 4.8% month-on-month (having increased 0.8% in May, unchanged from initial estimate) and growth was -6.9% in 2020Q2 (-4.1% in 2020Q1).
World industrial production momentum was -6.9% (non-annualised; -7.2% in May, initial estimate -7.1%).

The next release of the CPB World Trade Monitor is scheduled for 25 September 2020, 15:00 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).