Global export volumes through April have increased 3.9% year over year on a 3-month moving average basis, which bodes fairly well for global economic growth. Export volumes from developed economies are up 2.6% while emerging economies’ export volumes have risen 5.4%.

Growth in global trade volumes of 3.9% multiplied by the change in global trade prices of 4.0% equals an 8.1% annual increase in nominal global trade value.

The share of nominal global exports coming from emerging economies has increased to 47.0% while the share of nominal global imports has risen to 43.8%.