World trade decreased in July

By: Trademagazin Date: 2023. 08. 07. 12:20

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In July, world trade slowed significantly based on the monthly Kiel Trade Indicator calculated by the IfW economic research institute in Kiel.

The July world trade index of the IfW (Institut für Weltwirtschaft) published on Monday decreased by 1.6 percent compared to the previous month with price and seasonal adjustment.

The turnover indicators of the European Union and the United States, as well as China, turned negative in terms of both imports and exports.

The EU’s export index decreased by 1.6 percent and its import index by 1.5 percent, the United States’ export index fell by 3.7 percent and its import index by 0.8 percent. China’s export index decreased by 1.6 percent and import index by 0.7 percent in July, while Russia’s index increased by 4.0 percent in exports and 0.2 percent in imports. Germany’s trade indicators were in the red for both exports (minus 0.4 percent) and imports (minus 1.2 percent) in July.