Global trade volumes rise on AI demand
- CPB said world merchandise trade volume rose 1.9% in February 2026 after a 2.8% jump in January, extending an early-year rebound in cross-border goods flows. - February exports rose 3.9% in the United States and 4.8% in Latin America, while Advanced Asia excluding Japan posted a 4.4% year-on-year export gain. - UNCTAD said 2026 trade growth is slowing and electronics remain a rare bright spot as supply chains keep shifting under protectionist pressure. (unctad.org)
World merchandise trade volume rose 1.9% in February 2026, after a 2.8% gain in January, according to the CPB World Trade Monitor. (cpb.nl) CPB said the February increase was broad across regions on both the import and export sides. Imports fell only in China, down 1.0%, and emerging Asia, down 1.5%, after both had jumped in January. (cpb.nl) On exports, the United States rose 3.9% month on month in February, Latin America rose 4.8%, and other advanced economies rose 3.3%. Japan fell 5.8% and the United Kingdom fell 3.8%. (cpb.nl) The trade monitor tracks physical goods volumes, not just dollar values, so it strips out part of the price effect that can make nominal trade look stronger than it is. CPB put world trade momentum at 3.0% in February, while world industrial production rose 0.6%. (cpb.nl) That matters because some of the broader pickup in 2026 trade is still being flattered by prices. UN Trade and Development said trade inflation rebounded to nearly 1.5% quarter on quarter in the first quarter of 2026, suggesting part of the rise in trade values came from higher prices rather than bigger volumes. (unctad.org) The clearest engine inside the goods rebound is electronics. UN Trade and Development said a strong manufacturing sector led by electronics drove global trade growth, even as autos stayed weak and protectionism increased. (unctad.org) That electronics story is showing up most clearly in Asia’s chip and server supply chain. Taiwan’s Ministry of Economic Affairs said March export orders hit $91.1 billion, up 65.9% from a year earlier, with demand tied to artificial intelligence products. (moea.gov.tw) Singapore reported a similar pattern. Enterprise Singapore said non-oil domestic exports rose 15.3% in March, with electronics shipments up 74.0% from a year earlier. (enterprisesg.gov.sg) UN Trade and Development said global trade topped $35 trillion in 2025 and should keep expanding in early 2026, but at a slower pace as geopolitical tensions, inflation and trade costs rise. It also said United States-China decoupling is still reshaping supply chains through connector countries rather than stopping trade outright. (unctad.org 1) (unctad.org 2) The February trade figures show goods flows still rising even as governments add tariffs, subsidies and export controls. For now, the fastest-moving part of that system is still the hardware buildout behind artificial intelligence. (cpb.nl) (unctad.org)
