New data has shown that international trade experienced a strong recovery during November 2016, following a depressed performance in the first ten months of the year.
Figures from the CPB Netherlands Bureau for Economic Policy Analysis shows that world trade rose 2.8 per cent month-on-month during November, following a 0.9 per cent decline in October.
This October figure was revised upwards from an initial estimate of 1.1 per cent, further underlining the positive import and export trend. However, in broader terms, the outlook for global trade remains precarious.
For example, it was noted that world trade momentum was only 0.5 per cent for November, down from 0.7 per cent in October, and it is widely expected that the inauguration of Donald Trump as US president will lead to a rise in protectionism and a decline in support for globalized models of free trade.
Raoul Leering, head of international trade research at ING, said: "Despite the revival in November, serious doubts remain about the growth potential in the near future. Support from the economic cycle is limited and the structural drivers of trade don't look very good."