We are pleased to attach here below the latest HCOB World Trade Tracker from Hamburg Commercial Bank . Hamburg Commercial Bank analyses the development of real world trade on a monthly basis. The HCOB World Trade Tracker includes export and import data from 81 countries, which are processed to determine regional trends and identify the biggest growth drivers.
Weak May followed by a robust June
In May 2024, global trade contracted marginally by 0.1% compared to the previous month. Germany’s foreign trade was very weak in May at -4.6%, dragging down the entire eurozone and global trade after all. China and the USA were also weaker in May (-0.2% and -0.3% respectively). Latin America was able to counteract this somewhat with a strong 2.6% upward momentum in international trade.
“We expect stable growth in global trade in June. According to initial data from individual statistical offices and our own econometric estimate, global trade is likely to have grown by 0.9% in June, with the eurozone and the developed countries of Asia (excluding Japan) being the main growth drivers”, says Dr. Cyrus de Rubia, Chief Economist at Hamburg Commercial Bank.
