Growth in world trade remains on a downward trend, and the slowdown is intensifying, the economic research bureau CPB said.
Trade volumes in the 12 months that ended in October were 4.2% higher than a year earlier, compared with a 9.5% rise in November 2006 at the height of the current cycle, it said in its latest trade monitor.
“Scattered trade data of Asian countries (November and early December) and leading indicators point to a more pronounced downward trend in coming months,” said CPB Netherlands Bureau for Economic Policy Analysis, whose data are used by the European Commission and World Bank.
Last month it said trade had grown 4.5% in the 12 months to September.
The figures reflect the state of the world economy after the financial crisis in September led to a sharp slowdown or recession in many countries.
Looking at a moving average, CPB said trade rose 6.9% at an annual rate in three months ended October compared with the previous three months, when it rose only 0.7% from the preceding period.
But US exports, one of the main motors of the US economy this year, fell 13.8% at an annual rate in the three months to October after rising 22.5% in the previous period, it said. (Reuters)