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Financial News: G20 Trade Rises For Fifth Consecutive Quarter In

G20 Trade Rises For Fifth Consecutive Quarter In Q2, Export Growth Slows: OECD

08/29/2017 - 07:19:00 (RTTNews)

(RTTNews) - G20 countries' international merchandise trade increased for a fifth successive quarter during the three months to June, but the pace of growth slowed, data from the Organisation for Economic Co-operation and Development showed Tuesday.

On a seasonally adjusted basis and expressed in current US dollars, G20 export growth slowed to 1.4 percent in the second quarter from 3.4 percent in the first three months of the year, the Paris-based think tank said.

The pace of growth in imports more than halved to 1.7 percent from 4.2 percent.

G20 merchandise trade remains around 10 percent lower than recent highs in 2014, the OECD said.

Significant divergences were witnessed across regions. Exports grew strongly in France, Germany, Italy, and Turkey. The pace of growth eased in the UK, the US, South Africa, South Korea, Japan, Mexico, Canada and China.

Saudi Arabia and Argentina reported massive declines in exports. Shipments also dropped in Australia, Brazil, India, Indonesia and Russia.

Imports growth improved strongly in France, Germany, Italy, Japan, Argentina, Australia, Russia, South Africa and Turkey. The reverse was witnessed in Canada, India, South Korea, Mexico, the UK and the U.S.

Currencies of all G20 economies except Argentina, Australia, Brazil and Canada, appreciated against the US dollar in the second quarter, the OECD said.

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