August 23, 2024

World Trade Monitor June 2024

World Merchandise trade increased with 0.7% in June 2024 compared to the previous month, following an decrease of 0.3% in May. This is evident from the monthly CPB World Trade Monitor. On the import side, we see an increase for The United Kingdom (+7.8%), Latin America (+4.4%), advanced Asia (+3.6%) and Japan (+3.4%). Emerging Asia without China (-1.2%) and the eurozone (-1.0%) showed a decline. On the export side most noteworthy are the United Kingdom (+11.0%), China (+3.1%), the United States (+3.0%) and other advanced economies (+2.0%) with increases. However, the exports of emerging Asia without China (-4.9%), Eastern Europe (-2.1%) and advanced Asia (-2.0%) decreased.
World mapDynamic world map showing the changes in world trade by region for the selected variable.-2.0-1.50+1.5+2.0

The CPB World Trade Monitor (WTM) is an instrument for bringing together, aggregating, and summarizing worldwide monthly data on international trade and industrial production.

In the WTM, ‘trade’ is trade in goods (also referred to as ‘merchandise trade’). ‘Production’ is industrial production, that is: value added in mining, manufacturing, and utilities (also referred to as ‘industry excluding construction’).

The production monitor covers 85 countries worldwide. These countries account for about 97% of global industrial production. The trade monitor covers 81 countries. Coverage of world trade is almost 99%.

Developments in global international trade and industrial production June 2024:

  • World trade volume increased 0.7% month-on-month (growth was -0.3% in May, initial estimate 0.1%) and growth was 1.0% in 2024Q2 (0.3% in 2024Q1).
  • World trade momentum was 1.0% (non-annualised; 0.5% in May, unchanged from initial estimate).
  • World industrial production decreased 0.1% month-on-month (having increased 0.2% in May, unchanged from initial estimate) and growth was 0.5% in 2024Q2 (0.1% in 2024Q1).
  • World industrial production momentum was 0.5% (non-annualised; 0.2% in May, unchanged from initial estimate).

The next release of the CPB World Trade Monitor is scheduled for 25 September 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 July 2024 will be published on September 25th. If you have any questions, please contact wtm@cpb.nl.

If you want to receive an email alert every time CPB publishes its update of the world trade monitor, please subscribe to our alert service on this page ('Publications for policymakers').

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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