Supply Chain Research

World trade growth resumed in August with a 1.2% growth in global exports according to Panjiva analysis of CPB data. Latin America was the leader with 6% growth driven by Brazil. Japan’s 4% growth is illusory – exports in yen terms have fallen every month for the past 12 to end September. The laggards were likely to be Canada (autos and aircraft) and South Korea. Expect more of the same from the latter in September as the Hanjin Shipping and Samsung Note effects take hold.