World trade hits new high, figures show

Industry News | | MIC Customs Solutions |

World trade has grown again, Kuehne+Nagel's latest figures show.

World trade has hit a new high, according to figures released by Kuehne+Nagel in its gKNi World Trade Indicator.

The statistics take into account more than 200 million data sets every day, including throughput of ports, daily customs information and aircraft movements, among other factors.

In November, the report showed that world trade has enjoyed an upswing to hit a new high, while international merchandise trade has increased by 10.6 per cent so far in 2018.

The World Trade Indicator stood at 143.7 at the end of last month, up 0.3 per cent since October and 6.4 per cent year-on-year. This was also the fifth consecutive monthly increase since June.

Emerging markets and North America were highlighted as being the main drivers of growth, with figures from China also coming out strong.

In terms of ocean freight, there was still a rise of 2.9 per cent since the start of 2018, despite a slight decline in unit volume during November.

"The figures point to an extraordinarily dynamic fourth quarter," Kuehne+Nagel said in a statement.

Last month, the same company's figures showed a boost to global trade in October, with Latin America boasting the strongest growth at 12.9 per cent.