“Global trade increased slightly in March. The weakness of the two largest economies, the USA and China, was more than compensated for by the eurozone and Latin America,” says Dr Cyrus de Rubia, Chief Economist at Hamburg Commercial Bank.
According to preliminary estimates, global trade is off to a weak start in the second quarter. According to initial data, global trade is likely to have contracted by 0.4% in April, with China and the UK in particular driving this development. “ However, the eurozone could give global trade a boost in the coming months thanks to an economic recovery.”
You can find the complete HCOB global trade tracker here.
