Surge in world trade in second quarter

The value of world merchandise trade rose around 25% in the first six months of 2010, up strongly from the same period in 2009, according to figures released by the World Trade Organisation. This surge in trade growth marks a continuation of the trend begun in the first quarter of the year, according to the figures. World merchandise exports increased by approximately 7% in the second quarter of 2010 compared to the first quarter. Volumes declined in April and May 2010, then rose again in June. Asian exports and imports both rose by more than 35% in the second quarter of 2010 compared to 2009 while exports from Africa and the Middle East were 35% higher than in the corresponding period of 2009, fuelled by demand in Asia and the US, and higher commodity prices. The Commonwealth of Independent States (former members of the Soviet Union) posted a buoyant 44% export growth. Similarly, extra-EU trade (external trade between the EU and the rest of the world) was more dynamic than trade within the EU.