Kuehne + Nagel’s gKNi World Trade Indicator has registered 140.7 points at the end of July, 0.6% higher compared to the previous month and 10.2% higher than in July 2017, signalling global economic growth on the back of the strengthening US dollar.
Despite worldwide gains, Asia is losing momentum in August.
The gKNi World Trade Indicator powered by LogIndex — the data company of Kuehne + Nagel Group — is close to the record high achieved in February, 2018.
The annualized growth rate slowed only marginally to 12.2% in July from 12.5% in June (on year-to-date basis).
Further, the latest World Trade Organization (WTO) data available for April showed a change of 10.6% compared to the previous year.
The gKNi indicator for sea freight is up 2.6% since the beginning of 2018, while capacity has increased by 4.1% (TEU).
With trade levels up, liners will receive a much needed boost as markets calm and demand is secure.
Read more: Global Trade Looking Buoyant