June 25, 2020
Unprecedented decline in world trade in April
The CPB World Trade Monitor shows a historical decline in the world trade volume in April of 12.1% compared with March. Exports fell back significantly in several regions: -23% for both the eurozone and the US, -21% for Latin-America, -14% Japan, and -11% for other advanced economies. Imports declined most in Latin-America (-18%), the eurozone (-17%), the US (-11%), and other advanced economies (-15%). The growth in world trade during the months February to April compared with the preceding three months was -7.2%. None of the regions showed an increase, and the eurozone showed the most negative development (-13% exports, -11% imports).
Industrial production declined significantly as well: -8.1% worldwide compared to March, and between -17% and -18% for the eurozone, the US, other advanced economies, Latin-America, and emerging Asia (excluding China). Only China and Africa & the Middle-East show a plus of respectively 3.6% and 5.7%.
Look at the CPB World Trade Monitor.