Snap25 January 2018Updated about 12 months ago

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

Shanghai container terminal

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.


Month-on-month growth in world trade volumes

According 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.