12.8 C
Monday, May 20, 2024
Home News World trade edges higher in July

World trade edges higher in July

The gKNi World Trade Indicator registered 140.7 points at the end of July, 0.6% higher compared to the previous month and 10.2% higher than in July 2017. North America is running at full speed. On the other hand, Europe and emerging markets are benefiting from a stronger US dollar. Nevertheless, Asia is losing momentum in August.

p1World Trade Indicator at the end of July 2018, seasonally and working-day adjusted (SA), in USD: 140.7 points, Jan 2010 = 100 points. Export and import data from World Trade Organization (WTO) at the end of May 2018, in USD: 150.8 (+10.6% YoY); Jan 2010 = 100 points. The monthly merchandise values according to WTO are not seasonally or working-day adjusted (NSA), exports are valued FOB and imports CIF.

At a record high

The gKNi World Trade Indicator powered by LogIndex — the data company of Kuehne + Nagel Group — stood at 140.7 (10.2% YoY) at the end of July, +0.6% compared to June. The current reading is almost at the record high achieved in February. The annualized growth rate slowed only marginally to 12.2% in July from 12.5% in June (on year-to-date basis). The latest World Trade Organization (WTO) data available for April showed a change of 10.6% compared to the previous year.

p2Month-over-Month changes of World Trade Indicator (WTI) past 13 months.

USA and Europa up

North America is in full swing: Foreign trade in Canada increased by 12.8% YoY in July (June: 4.7%). The United States accelerated exports and imports from 9.1% in June to 10.2% (YoY) in July. Europe, especially Sweden, Spain and the Netherlands, is also more dynamic, underpinned by a higher US dollar. However, Asia is developing less dynamically and will slow down further in August. In general, world will cool off slightly again in August.

p4Foreign trade in July by region and group.

Sea freight slightly lower

After a strong second quarter, container traffic on the oceans declined only marginally in July (-0.3% MoM), driven by ports in China (-0.5%) and the United States (-0.3). Japanese ports increased the container throughput by 0.8%, Hong Kong 0.3% and Singapore 0.2% (MoM). The gKNi indicator for sea freight is up 2.6% since the beginning of the year, while capacity has increased by 4.1% (twenty-foot equivalent unit: TEU ).

p3This chart shows the Month-over-3-Month changes based on the gKNi World Trade Indicator (Moving Average 3-Month).

Latest Posts

Bridging the Gap: Understanding Your Options for Immediate Financial Needs

When faced with an unexpected financial hurdle, such as a medical emergency, car repairs, or sudden unemployment, the need for immediate financial solutions becomes...

MSC increases rates for shipments to Valencia and Antwerp

Swiss/Italian container carrier MSC has announced new Freight All Kinds (FAK) rates for shipments to Europe, effective from 1 June until further notice but not...

Hapag-Lloyd announces peak season surcharges for shipments to North America

Hamburg-based box line Hapag-Lloyd has announced new peak season surcharges for shipments destined for North American ports. The German company will apply a new peak...

CFL multimodal and ista Luxembourg ink long-term deal

CFL multimodal, through its subsidiary CFL logistics, and ista Luxembourg S.à r.l have signed a long-term agreement, under which the logistics expert will provide...

MSC launches new weekly North Peru Feeder service

MSC has announced the “North Peru Feeder”, a new dedicated feeder service from Salaverry and Paita in Peru to provide increased port connections and...