After Reaching all-time Highs in July, Global Merchandise Exports Contracted in August 2025   

International Merchandise Trade Statistics, Country Group Aggregates, August 2025

Contributors: Levan Karsaulidze, Arushi Kapoor

After peaking in July 2025, global merchandise exports declined by 2.1 percent month-on-month in August. While more marked in advanced economies, the contraction was widespread and affected almost all regions.

Annual growth in merchandise exports was sustained up to July 2025—reaching 7.9 percent globally, and even 10 percent for advanced economies. All regions experienced growth above 5 percent, with the Middle East and Central Asia as the only exception. This trend reversed in August 2025. Merchandise exports contracted by 3 percent in Advanced Economies and by 1 percent in Emerging Market and Developing Economies, on a month-on-month basis. The reduction was notable in Emerging and Developing Europe (5.5 percent) and Sub-Saharan Africa (-3.9 percent).

Overall, the recent contraction does not reverse the strong performance in global merchandise exports so far this year, with a 4.9 percent growth year-on-year in August 2025. 

     

Notes: Seasonally adjusted and trend-cycle world and country group aggregates are derived from a sample of 109 economies that report monthly merchandise exports to the World Trade Organization/International Financial Statistics.

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