The chart, taken from the CPB World Trade Monitor, shows that seasonally adjusted export volumes are picking up. The data shows the index of world exports, with base 2010 at 100. World export volumes were up 5% in June 2017 from a year ago, as were emerging market exports, while exports from emerging Asia were higher at 5.6% year-on-year. The increase in trade is expected to continue as the developed countries, especially in Europe, start to show some growth. Note though that the seasonally adjusted index of exports from emerging countries in June was lower than its level in March 2017, indicating that growth is still to gain strong momentum. Also looming over world trade is the threat of protectionist measures.