January 2012 International Trade

Click image for larger view

According to data compiled by the Netherlands Bureau for Economic Policy Analysis, world trade volume increased by 0.9% in January from the previous month, following a revised rise of also 0,9% in December. Imports expanded strongly in most advanced and emerging economies, most notably in Japan. In Emerging Asia imports declined however. Euro Area imports grew for the first time since August. In the preliminary estimates, export growth appears to have been rather lower than import growth, a statistical oddity (and the reversal of the December pattern). Regional differences are also more marked at the export side, with strong figures for the United States and Japan, a decline in Emerging Asia, and a continued decline in the Euro Area.

World trade prices rose by 0.3 percent in January after a downwardly revised decline of 1.0 percent in December.
 

Click image for larger view

Total January exports of $180.8 billion and imports of $233.4 billion resulted in a goods and services deficit of $52.6 billion, up from $50.4 billion in December, the largest deficit since October 2008. January exports were $2.6 billion more than in December, while imports were $4.7 billion higher.
 

Click image for larger view

Paper exports started the year off in negative territory, dropping by 19,000 tons (0.7 percent). However, imports fell by an even wider margin: -33,000 tons (4.3 percent). Exports were 78,000 tons (3.0 percent) higher than a year earlier, however, while imports were 99,000 tons (11.8 percent lower).
 

Click image for larger view

Softwood lumber exports rose by 1 MMBF (0.7 percent) in January but imports retreated by 119 MMBF (14.9 percent). Exports were 12 MMBF (10.1 percent) higher than year-earlier levels; imports were 20 MMBF (2.9 percent) lower.