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World trade volume grew 1.8% in month of February 2010; World industrial production grew by 1.0% following an equal increase in January
By Finfacts Team
Apr 27, 2010 - 2:52:19 AM
World trade volume grew 1.8% in month of February 2010 and world industrial production grew by 1.0% in February, following an equal increase in January, according to the CPB Netherlands Bureau for Economic Policy Analysis.
World trade volume: Based on preliminary data, world trade volume went up by 1.8% in February from the previous month, following a revised decrease of 0.5% in January (initial estimate: – 0.7%). Trade volumes increased worldwide, with the exception of imports of emerging economies in Asia. Export growth was highest in emerging economies, most notably in Asia and Latin America. In February, trade was 7% below the peak level reached in April 2008, but 16% above the trough reached in May 2009.
CPB says monthly trade figures are volatile and focus on ‘momentum' is therefore preferable. In the three months up to February 2009, world trade was up by 5.3% from the preceding three months, slightly less than it was in the three months up to January, but then the January momentum figure is the highest in our series so far. For several months now, momentum has been consistently highest in Asia (Japan included) and Latin America, while in the Eurozone it has been lowest.
World trade prices: In the three months up to February 2009, dollar prices of world trade were up by 1.0% from the preceding three months. Dollar prices of traded manufactures declined by 2.0% in February, as a result of which their momentum turned negative as well.
World industrial production: On the basis of preliminary data, world industrial production grew by 1.0% in February 2010, following an equal increase in January. Production continues to grow strongly in Asia, with the notable exception of Japan, which registered a surprise drop of 1.1%. Growth in the other advanced economies was weak. In February, industrial production was 2.4% below the peak level reached in March 2008. It has risen by an accumulated 11% from the March 2009 trough.
The trade database in Excel format as well as an explanatory note on CPB's world trade series are available here.
