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BRIEF December 21, 2023

Trade Watch

Travel services recover ahead of new supply chain stress

  • Global goods trade picked up slightly in September and October 2023 but remained below levels in the previous year.
  • Services trade continued to recover, and travel exceeded 2019 pre-pandemic levels, albeit international tourist arrivals were yet to catch up, particularly in China and the rest of East Asia.
  • Capacity constraints remained relaxed and shipping rates low through October 2023, despite persistent stress at the Black Sea and in Asia, and traffic jam at the Panama Canal. Yet, the resilience of supply chains is being tested again by disruptions at the Red Sea.

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Trade Watch—a product of the Trade and Regional Integration Unit of the World Bank—provides up-to-date data from an array of sources, along with analysis of recent trade developments.

About the Trade Watch series

Since April 2020, the World Bank has produced the COVID-19 Trade Watch series, which tracks trade flows in the aftermath of the COVID-19 pandemic. The series relies on real-time shipping data, official trade statistics for goods and services, and other sources to provide a perspective on how trade is responding to the latest economic developments.

Past issues of Trade Watch

3rd Quarter 2023

2nd Quarter 2023

1st Quarter 2023

July - September, 2022

June 2022

May 2022

April 2022

March 2022

February 2022

December 2021

November 2021

October 2021

September 2021

June 2021

May 2021

April 2021

March 2021

February 2021

December 2020

November 2020

October 2020

September 2020

August 2020

July 2020

June 2020

May 2020