WTO reports surge in global trade

As reported in LM, both the ocean and air freight sectors have benefitted of late by this resurgence in global trade
By Staff
September 03, 2010 - LM Editorial

The value of world merchandise trade rose around 25 percent in the first six months of 2010 up strongly from the same period of 2009. This surge in trade growth marks a continuation of the trend begun in the first quarter of the year, according to WTO figures released yesterday.

“World merchandise exports increased by about 7 percent in the second quarter of 2010, in comparison with the first quarter,” noted WTO spokesmen. “Within that period, available monthly statistics for about 70 economies representing about 90 percent of world trade show that merchandise trade declined in April and May 2010, then rose again in June.”

As reported in LM, both the ocean and air freight sectors have benefitted of late by this resurgence in global trade.

Asian exports and imports both rose by more than 35 percent in the second quarter of 2010, as compared to the corresponding period of 2009. Exports from Africa and the Middle East were 35 percent higher than in the corresponding period of 2009, fuelled by demand in Asia and the U.S., and higher commodity prices.?

The Commonwealth of Independent States (former members of the Soviet Union) posted a buoyant 44 percent export growth. Similarly, extra-EU trade (external trade between the EU and the rest of the world) was more dynamic than trade within the EU.



Subscribe to Logistics Management magazine

Subscribe today. It's FREE!
Get timely insider information that you can use to better manage your
entire logistics operation.
Start your FREE subscription today!

Recent Entries

The Department of Commerce reported that January retail sales were up 0.2 percent compared to December and up 3.7 percent annually at $449.9 billion, and the NRF reported that January retail sales, which exclude automobiles, gas stations, and restaurants, rose 0.6 percent over December and 1.4 percent compared to January 2015.

On the freight shipments side, Cass reported that January shipments––at 1.025––trailed December by 1.3 percent and January 2016 by 0.2 percent. These declines were less than the 4.9 percent drop from November to December, though, and January shipments still topped the 1.0 mark for the 65th straight month in December.

The Department of Transportation’s Bureau of Transportation Statistics (BTS) reported this week that its Freight Transportation Services Index (TSI) saw a 0.4 percent decline from November to December, its second straight decline on the heels of a 1.0 percent decrease from October to November.

Carloads saw a 11.7 percent annual decline at 241,680, and intermodal containers and trailers rose 10.5 percent to 262,830

An amendment to the International Maritime Organization’s Safety of Life at Sea convention will go into effect requiring all shippers (importers and exporters) to certify and submit the Verified Gross Mass – the combined weight of the cargo and the container – to the steamship line and terminal operator in advance of loading the container aboard a vessel.

Article Topics

News · Freight · Air Freight · Global Trade · Trade · Exports · Imports · All topics

About the Author

Patrick Burnson, Executive Editor
Patrick Burnson is executive editor for Logistics Management and Supply Chain Management Review. Patrick covers international trade, global logistics, and supply chain management. He lives and works in San Francisco, providing readers with a Pacific Rim perspective on industry trends and forecasts. Contact Patrick Burnson

Comments

Post a comment
Commenting is not available in this channel entry.


© Copyright 2016 Peerless Media LLC, a division of EH Publishing, Inc • 111 Speen Street, Ste 200, Framingham, MA 01701 USA