Independent journal on economy and transport policy
01:55 GMT+2
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TRADE
In the first quarter of this year, world freight traffic recorded strong growth in view of the new duties
North America recorded the strongest quarterly growth in imports
Ginevra
July 15, 2025
In the first quarter of this year, world traffic in
has experienced strong growth in view of the increases in
tariffs planned by US President Donald Trump being
increased by +3.6% quarter-on-quarter and +5.3% year-on-year.
This was announced by the World Trade Organization, specifying that
The increase was driven by the surge in
North American imports in anticipation of higher tariffs
high in the United States announced on April 2 with a
which allowed importers to anticipate purchases for
avoid paying higher rates later
(
of 3
April 2025).
The growth in the volume of trade that took place in the
first quarter of 2025 was higher than projected
published in the report "Global Trade Outlook and Statistics"
of the WTO of 16 April, and for the baseline forecast of +2.7% for
2025 which assumed the maintenance of the policies in force
at the beginning of the year and for the adjusted forecast of -0.2%,
assuming the policies in force on 16 April. The WTO has
specified that since then a series of trade agreements and measures
have slightly modified the adjusted forecast, but halfway through
June the growth in freight traffic for the whole year was
expected still substantially unchanged at +0.1%. Meanwhile
the dollar value of world trade in goods, measured on the
non-seasonally adjusted export base, in the first quarter
increased by +4% year-on-year, reflecting a
strong growth in volume and a decline in prices. The WTO has
specified that in the first quarter the value of trades was
decreased compared to the previous quarter due to normal
seasonally adjusted, but seasonally adjusted data continued
to grow.
In the first quarter, there were significant differences
between regions in the growth of the volume of trade in goods,
especially with regard to imports. North America has
recorded quarter-on-quarter growth in imports more
consistent with all the other regions, with +13.4%, followed by
Africa with +5.1%, South and Central America and the Caribbean with
+3.6%, the Middle East +3.0%, Europe +1.3% and
from Asia with +1.1%. The Commonwealth of Independent States
(CIS), including some Associated and former Member States, has been
the only region to record a drop of -0.5% in the first quarter.
As far as exports are concerned, the Middle East has
recorded the most significant quarter-on-quarter growth,
with +6.3%, followed by Asia with +5.6%, South America with the
+3.2%, from Africa with +2.5%, from Europe with +1.9% and from the North
America with +1.8%. The CIS has recorded a decline in
exports by -1.0%.
With regard to the different types of goods, in the first
quarter, the most marked year-on-year growth in terms of
dollar value has been recorded in the
office and telecommunications equipment (+16%),
followed by chemicals (+12%) and clothing (+7%). Between
categories, only automotive products (-4%), fuels and
mining products (-4%, of which: fuels, -7%, and iron and
steel, -3%) suffered a decline in value.
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