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IMF Data Brief: Global Merchandise Exports

Publication date:

Feb 19, 2025

IMF Data Brief: Global Merchandise Exports

Datasets:

International Trade in Goods (by partner country) (IMTS)Crypto-based Parallel Exchange Rates (Working Paper dataset WP-CPER)

February 5 – 18, 2025

Global Merchandise Exports Decrease in November 2024 Driven by Emerging and Developing Asia

International Merchandise Trade Statistics, Country Group Aggregates, November 2024

(Contributors: Levan Karsaulidze and Arushi Kapoor)

Seasonally adjusted global merchandise exports decreased 1.4 percent month-on-month in November, following an increase of 0.7 percent in October 2024. The decrease in November was mainly driven by Emerging and Developing Asia, where exports decreased 4.0 percent, subtracting 0.9 percentage point from global export growth.

A significant reduction was registered in Sub-Saharan Africa (-18.5 percent) contributing -0.3 percentage point to the global decline. Merchandise exports also decreased in Latin America and the Caribbean (-3.8 percent). Merchandise exports increased in Emerging and Developing Europe (1.3 percent) and in the Middle East and Central Asia (0.3 percent). Overall, merchandise exports declined 3.1 percent in Emerging Market and Developing Economies (EMDEs) and were unchanged for Advanced Economies (AEs).

On a year-on-year basis, global merchandise exports increased 1.5 percent with EMDEs and AEs registering 1.8 percent and 1.3 percent growth, respectively.

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By income group, quarter-on-quarter real GDP growth in the Emerging Market and Developing Economies increased slightly to 0.9 percent in 2024Q3, up from 0.7 percent in 2024Q2. This group accounted for the majority of World GDP growth (0.6 percentage point). The Advanced Economies grew by 0.5 percent in 2024Q3, contributing 0.2 percentage point to overall growth.

Economy-wide prices, as measured by the World GDP deflator, grew by 1.8 percent in 2024Q3, similar to the 1.7 percent increase in the previous quarter (revised up from 1.6 percent). Price increases in the Americas (3.2 percent) and Asia (1.2 percent) contributed 1.4 percentage points to World price growth.

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Updated Dataset: Crypto Pricing Reveals Narrowing Parallel Exchange Rate Premia

Crypto-based Parallel Exchange Rates; Country Data; January 2025
Updated dataset associated with the IMF Working Paper Crypto as a Marketplace for Capital Flight
(Contributors: Clemens Graf von Luckner, Lamya Kejji, Robin Koepke and Shuhan Yue)

Exchange rate premia embedded in crypto markets have narrowed in several major economies over the past year, pointing to reduced capital outflow pressures in these markets. For countries with substantial restrictions on external transactions, estimates through January show a substantial narrowing in the premia investors were willing to pay to purchase bitcoin in the local vs. the US market. The relative price of bitcoin in different currencies can be thought of as a crypto-based parallel exchange rate, and the premium is defined as percentage difference between the parallel exchange rate and the official one (see details here).

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OTHER RELEASES

Atmospheric CO₂ Concentrations

Country Data, Third Quarter 2024

Atmospheric CO₂ Concentrations for January 2025 were released on February 11, 2025. The IMF Climate Change Indicators Dashboard tracks monthly atmospheric carbon dioxide concentrations.

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