World trade growth accelerates
Global trade grew in November at the fastest monthly rate of the year, and we expect the good news to continue
World trade grew 2.4% in November, the fastest month-on-month increase of the year. This comes amid growing optimism about a continuation of the Trans-Pacific Partnership agreement and moderate confidence about the ongoing NAFTA renegotiations.
| 2.4% |
Month-on-month growth in world trade volumesAccording to CPB World Trade Monitor |
Including November, average monthly world trade growth more than doubled to 0.3% in 2017. We expect this number to be maintained over 2018 due to a synchronised increase in global economic activity. As a result, annual trade growth is expected to match world GDP growth this year. However, less offshoring and a declining import share of the Chinese economy continue to be a drag on world trade growth.
This publication has been prepared by ING solely for information purposes irrespective of a particular user's means, financial situation or investment objectives. The information does not constitute investment recommendation, and nor is it investment, legal or tax advice or an offer or solicitation to purchase or sell any financial instrument. Read more
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