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Global trade grew by 12% in August despite supply chain bottlenecks and congestion
Posted on September 12, 2022 |
- In August, global trade saw an increase of 1.2% compared to July (price and seasonally adjusted).
- However, for Germany’s trade, the imports fell by 0.2% and exports fell by 0.7% as congestion at major German ports is stabilizing gradually, and the country is exporting 7% fewer goods compared to 2019.
- Only Italy and Japan's export are above pre-Covid-19 levels in the G7 group, and at the same time, world trade is over 6% above its pre-pandemic levels.
- In the EU, there is no change as imports fell by 0.1% but exports grew 0.1% which is likely to be at the level of the previous month.
- American imports are increasing by 1.8% and exports by 0.3% compared to July.
- In China, exports saw a decline of 4.6% while imports grew by 0.3%, and in Russia, exports are up 2.3% compared to the previous month’s level, while imports remain unchanged at 0.1%.
- Inflation increased exports in many countries, as high prices raised nominal trade values.