July 25, 2024

World Trade Monitor May 2024

World Merchandise trade increased with 0.1% in May 2024 compared to the previous month, following an increase of 1.1% in April. This is evident from the monthly CPB World Trade Monitor. On the import side, we see an increase for emerging Asia (+4.5%) and Eastern Europe (+1.2%). The United Kingdom (-5.2%), Latin America (-3.3%), the eurozone (-1.9%), advanced Asia (-1.5%) and China (-1.1%) showed a decline. On the export side most noteworthy are emerging Asia without China (+7.3%), China (+5.3%) Eastern Europe (+4.1%) and other advanced economies (+1.2%) with increases. However, the exports of the United kingdom (-2.8%), the eurozone (-2.7%), Japan (-1.5%) and the United States (-1.1%) decreased.

Developments in global international trade and industrial production May 2024:

  • World trade volume increased 0.1% month-on-month (growth was 1.1% in April, initial estimate 1.5%).
  • World trade momentum was 0.5% (non-annualised; 0.9% in April, initial estimate 1.2%).
  • World industrial production increased 0.2% month-on-month (having increased 0.6% in April, initial estimate 0.4%).
  • World industrial production momentum was 0.2% (non-annualised; 0.2% in April, initial estimate 0.2%).

The next release of the CPB World Trade Monitor is scheduled for 23 August 2024, 12:00 hours.

The monthly CPB World Trade Monitor is an instrument with which CPB monitors the development of world trade and is published on behalf of the European Commission. It takes two months before the figures are available. The next CPB World Trade Monitor for the reporting month of June 2024 will be published on August 23th. If you have any questions, please contact wtm@cpb.nl.

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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).

This month’s release of the CPB World Trade Monitor incorporates several technical changes regarding the base year, seasonal correction and data sources used. For more details on this, please see the downloadable appendix (CPB Memo ‘Technical changes to WTM’)

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