North America trade still going strong

Oct. 12, 2018

The reading of the gKNi World Trade Indicator (WTI) remained virtually unchanged in September. At 141.0 points, the WTI is still 5.8% up on the previous year.

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World Trade Indicator at the end of September 2018, seasonally and working-day adjusted (SA), in USD: 141.0 points, Jan 2010 = 100 points. Export and import data from World Trade Organization (WTO) at the end of July 2018, in USD: 149.9 (+13.0% YoY )

+0.5% Quarter-over-Quarter (QoQ)

The gKNi World Trade Indicator powered by LogIndex AG — the data company of Kuehne + Nagel — stood at 141.0 (+5.8% YoY) at the end of September, -0.3% compared to the previous month. The third quarter saw an increase of +0.5% (QoQ) versus +0.4% in the second quarter and +4.4% in the first quarter. The World Trade Indicator is a USD value indicator influenced by inflationary pressures, in particular higher energy prices.

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World Trade Indicator Month-over-Month (MoM)

Europe was the least dynamic

World trade has recently been strong in North America (+9.1%), Central and South America (+9.4%). The Asian region, which experienced a vibrant growth in the first half of the year, is now less dynamic. Foreign trade in South Korea was negative in September. Overall, Europe was the least dynamic.

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Foreign trade by region and group of economies.

Sea freight: Growth in line with trade dynamics

The unit volume in ocean freight increased slightly in September, although higher bunker costs will certainly increase volumes in USD. The trend has been flat in recent months: the gKNi sea freight indicator rose by +0.5% (QoQ) compared to +1.4% in the second quarter. Year-over-Year, sea freight unit volumes increased in the United States by 6.0%, in Japan by 3.7% and in China by 1.7%. Background: gKNi monitors the activity level of the main seaports, which account for more than half of global maritime trade.