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World trade growth slowed in second quarter; World industrial production passed previous peak reached in March 2008
By Finfacts Team
Aug 26, 2010 - 4:31:11 AM
World trade growth slowed down in
the second quarter while world industrial production passed the previous peak reached in
March 2008, according to the CPB Netherlands Bureau for Economic Policy
Analysis.
World trade volume: Based on preliminary data, world trade
volume increased by 0.7% in June from the previous month, following an upwardly
revised increase of 2.3% in May. The 0.7% increase results from an import rise
of 1.7% and an export decline of 0.3%. The CPB says monthly import and export
data can differ substantially, but in the long run the difference is negligible.
Import volumes went up in all regions, apart from Central and Eastern Europe.
Export volume declined slightly in all major regions in June, except for the
Eurozone which showed a strong increase.
The CPB says monthly trade figures are volatile and focus on
‘momentum’ is therefore preferable. In the second quarter trade growth in the
advanced economies accelerated, but fell back considerably in most emerging
regions. As a result world trade growth slowed down to 3.6% against 5.7% in the
first quarter and 6.1% in the last quarter of 2009.
World industrial production: On the basis of preliminary
data, the CPB says world industrial production grew by 0.2% in June, following a
strong rise of 1.0% in May. In the second quarter industrial production growth
in the United States and Europe held up, but decelerated strongly in Japan and
the emerging markets. World industrial production grew by 2.0% in the second
quarter, against 3.2% in the first and 2.9% in the last quarter of 2009. The
world production level has recently passed the previous peak reached in March
2008.
The trade database in excel format as well as an explanatory
note on our world trade series are available
here.
On Wednesday, the Irish Maritime
Development Office (IMDO) reported that export shipping volumes
rose 5%
year-on-year in H1 2010.
Import volumes were down 2 per cent which was mainly due to
weak domestic demand. However, IMDO said the rate of decline in
import volumes has eased sharply.
