World trade increased at a steady pace in the first quarter, in a sign that the economy is expanding modestly, a report released by the Netherlands Bureau of Economic Policy Analysis, or the CPB, showed Friday.

The volume of international trade increased 0.7 percent sequentially in the first three months of 2013, which was the same growth rate recorded in the fourth quarter.

Export growth in advanced economies and import growth in emerging economies turned positive during the quarter, supporting the the overall trade growth.

"Both import and export momentum increased in advanced economies, while in emerging economies it remained practically unchanged at a moderate level. In the Euro Area, import and export momentum increased substantially," the report said.

The upturn in trade was in line with a 0.9 percent rise in global industrial production, which marked an improvement from the fourth quarter's 0.4 percent gain. Production expanded in all major economic regional entities, with the Eurozone showing the first positive momentum in six months.

In the month of March, the trade volume increased by 0.2 percent, reversing the 1.1 percent decline seen in the previous month. Industrial output in the world economy increased at a faster rate of 0.6 percent in March than 0.3 percent in February.

RTTNews