Foreign merchandise trade of the G20 declined for the first time in two years
The Foreign trade of goods from countries G20 It fell during the third quarter of 2022 for the first time in two years, I reported today Organization for Economic Co-operation and Development (OECD) It’s a statement.
The international organization recorded an overall decline of 1.3% in merchandise exports and 1.1% in imports compared to the second quarter, partly due to lower demand and lower prices for many raw materials.
The decline in exports is slightly higher across China European Unionwith sales abroad decreasing by 1.5% and imports increasing by 0.7%.
The UK was spared from the drop in exports in Europe with a growth of 0.8% and France with a growth of 1%.
On the Asian continent, only China and Indonesia managed to increase their exports (0.7% and 0.5%, respectively), while countries such as Japan and South Korea follow the downward trend of the G20.
America, Mexico and the United States recorded higher increases (2.6% and 1.7%) compared to the previous quarter.
In total, this decline represents $60.6 billion less in merchandise exports than in the second quarter of 2022 in the G20 as a whole, $27.6 billion in the European Union alone.
Latest development Merchandise trade It is worth watching closely now as the global economy faces several headwinds, particularly tightening monetary policy, lower commodity prices and slowing demand.”
announced the head of statistics at the Organization for Economic Co-operation and Development, Paul Schreyer.
On the other hand, growth in services trade in the G20 is slowing: exports increased by 0.3% and imports by 1.7%, smaller increases than in the previous quarter (1.3% and 2.3%, respectively).
This slowing trend was particularly evident in France, which recorded its first drop in exports (-1.6%) since the second quarter of 2020, in the midst of the pandemic.
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