Asia and Latin America boost growth in world trade but Eurozone dragging

GLOBAL trade volumes in the first three months of this year were 5.3 per cent higher than in the previous quarter, representing slightly slower growth than in recent months but still a healthy rebound from the crisis, according to the Dutch CPB institute.

The CPB, whose data are used by the European Commission and World Bank, said world trade in the three months ended February had grown by 5.8 per cent over the previous three months and grown six per cent in the last quarter of 2009.

Trade growth remained strongest in Asia and Latin America, but was relatively low in the Eurozone, it said in its latest monthly world trade monitor.

On the more volatile monthly figures, world trade volumes were 3.5 per cent higher in March than in February, when they grew 1.7 per cent. Trade volumes grew worldwide except for Japanese imports, and both imports and exports in the Eurozone were strong.

World trade in March was four per cent below the peak reached in April 2008 and 21 per cent above the trough seen in May 2009.