Time for an update in my seasonally adjusted global trade series (see here for sources and methodology). The data above go through February (which has pretty complete data - and March is too incomplete to form even a preliminary estimate). You can see that it continues to look like global trade, recovering since 2009, hit a significant pothole in 2011 from which it has not recovered. Last spring it stopped growing, and then in the fall it fell sharply, and it has only slightly recovered since.
In a week or two it might be possible to form a reasonable preliminary estimate for March, which seems like it will be interesting.