World trade turnover decreased by 0.8% in November

Statistics published by The Wall Street Journal show a 0.8% decline in global trade in November compared to the previous month. In October, the volume of global trade grew by 2.7%. In the first half of last year, world trade grew thanks to a solid economic recovery. However, in the second half of the year, the multidirectional dynamic of trade volume was observed. Demand for products grew in all regions of the world. At the same time, manufacturers experienced difficulties associated with disturbance in the raw materials and components supply. On an annualized basis, world trade increased by 16.8% in November. The high growth rate is largely appropriate to the low base. In November 2020, global trade suffered a severe downturn, as businesses had not yet adjusted to the new operating conditions that have arisen due to the pandemic. To calculate the indicators, the WSJ publication used data obtained from six regions of the globe.

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Arseny Kudrin

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