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Kiel Trade Indicator 08/22: World trade picks up, Russia's port activity almost at pre-war level [1]
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Date: 2023-09
The latest Kiel Trade Indicator data update shows a 0.9 percent increase in global trade in August compared with the previous month of July (adjusted for price and seasonal effects).
For Germany, the August figures for both exports (+1.8 percent) and imports (+1.5 percent) are quite clearly in the black. "The figures point to a recovery in German trade, after the Federal Statistical Office had recently reported a decline for July exports, but unlike the Kiel Trade Indicator, the values are not adjusted for inflation. It remains to be seen whether German exports will really turn around, as the weak global economy means that demand for new German machinery and other capital goods tends to decline," says Vincent Stamer, Head of Kiel Trade Indicator.
The signs for EU trade arealso positive, with exports (+2.6 percent) noticeably up and imports (+0.6 percent) slightly up. For the US, the Kiel Trade Indicator points upwards for exports (+1.8 percent) and imports (+0.6 percent). China isalso expected to trade more goods in August than in July, with exports (+5.8 percent) likely to make a much bigger jump than imports (+0.5 percent), which are only slightly above the previous month's level.
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[1] Url:
https://www.ifw-kiel.de/publications/news/world-trade-picks-up-russias-port-activity-almost-at-pre-war-level/
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