December 2011 International Trade

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According to data compiled by the Netherlands Bureau for Economic Policy Analysis, world trade volume increased by 1.4 percent in December from the previous month, following a revised rise of 0,8 percent in November. Regional results were mixed: Emerging economies generally did better than advanced economies; Japanese and Euro Area imports continued to decline.

Over the whole of 2011, trade went up by 5.6 percent (2010 average to 2011 average). Emerging economies again outpaced advanced economies. Earthquake-hit Japan has been struggling to recover. In the Euro Area both imports and exports advanced slowly.

World trade prices rose by 1.6 percent in December and averaged +1.1 percent during 4Q.
 

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Total December exports of $178.8 billion and imports of $227.6 billion resulted in a goods and services deficit of $48.8 billion, up from $47.1 billion in November. December exports were $1.1 billion more than in November, while imports were $3.0 billion higher.
 

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Paper exports more than recouped November’s downturn when jumping by 285,000 tons (9.8 percent) in December; imports ticked down by 18,000 tons (4.3 percent). Exports remained 14,000 tons (0.4 percent) above year-earlier levels, but imports were 29,000 tons (6.9 percent) lower.
 

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Softwood lumber exports fell by 7 MMBF (5.3 percent) in December and imports advanced by 32 MMBF (4.2 percent). Exports were 11 MMBF (9.3 percent) higher than year-earlier levels; imports were 61 MMBF (8.3 percent) higher.