World Trade Higher Again Than Before the Corona Crisis
Global trade has fully recovered from the effects of the corona crisis. According to the Central Planning Bureau (CPB), it is even higher than before the virus outbreak, based on its World Trade Monitor.
According to the CPB, world trade increased by 0.6 percent in December compared to November, surpassing the level of early 2020.
The loss due to corona in the first half-year has been made up for with a growth of 1.3 percent over the whole of 2020. In the fourth quarter of 2020, growth was 4 percent.
Exports from advanced economies mainly supported December growth. In particular, the United States, with an increase of 3.3 percent, and imports from emerging economies stand out. It is striking that China imported and exported less in December, which has not happened in a long time.
Industrial production rose by 1.3 percent in December compared to November. This means that industrial production has also returned to the level of early 2020, according to the CPB.