|
International Trade Statistics: Quarterly Estimates
G7 Merchandise Trade Import Volume Up In Second Quarter 2003
"Quick Print"
30/10/2003 - Seasonally adjusted import volumes of G7 countries were up by 1.7% in the second quarter of 2003 compared with the previous quarter while export volumes remained unchanged. The percentage change for G7 trade volumes compared with the second quarter of 2002 remained positive for imports, with an increase of 3.2%, but turned slightly negative for exports, with a decrease of 0.3%.
Value growth in OECD merchandise trade (tables and graphs)
In the United States, import volumes were markedly higher in the second quarter by comparison with the first quarter, with a 3.2% increase, while export volumes decreased by 0.5%. Compared with the second quarter of 2002, imports were up by 3.8%, while exports fell by 2.1%.
The volume of Japanese quarterly imports continued the recent upward trend with 2.0% growth in the second quarter, compared with the first quarter, while export volume growth continued to be modest, with a 0.4% quarterly increase. On a year-to-year basis, Japan's import volume growth in the second quarter was the highest in the G7 at 7.2% while export growth was only 2.9%, continuing a recent declining trend.
Compared with the first quarter of 2003, Germany's trade volumes were up by 0.4% for imports and 0.9% for exports. On a year-to-year basis, trade volume growth remained at a high level with 5.7% for imports and 5.3% for exports.
France recorded a drop in merchandise trade volumes of 0.2% for imports and 1.7% for exports on a quarterly basis. Compared with the second quarter of 2002, import volumes fell by 2.0% and exports by 4.4%.
Volume growth in merchandise trade (tables and graphs)
OECD's quarterly merchandise trade growth in current prices remained positive, but growth rates were lower in both quarter-to-quarter and year-on-year comparisons.
Methodological Notes
All data contained in this press release are based on the OECD's Monthly Statistics of International Trade (MSIT) database. Merchandise trade covers trade in goods, excluding services. Trade in services represents broadly 20 % of total trade.
Trade data for area aggregates OECD and G7 include intra-area flows. However, trade data for the area aggregate EU-15 Extra EU is provided by EUROSTAT and exclude intra-area flows. EUROSTAT community statistics cover the European Union as a whole and include methodological differences that make precise comparison with OECD statistics impossible.
Quarterly trade estimates for the OECD area are based on monthly trade data reported by the member countries, supplemented by estimates from the OECD Secretariat as appropriate.
Seasonally adjusted data are calculated by the Secretariat using the X-12-Arima method. Aggregated annual and quarterly growth rates in value terms are derived from series at current prices and in current US dollars. Aggregated annual and quarterly growth rates in volume terms are derived from series in constant 1995 US dollars.
OECD's Monthly Statistics of International Trade (MSIT) cover aggregate indicators, trade price and volume indices and trade broken down by the Standard International Trade Classification (SITC) sections and by partner country. In addition to monthly and quarterly trade, OECD manages a comprehensive annual trade database by commodity and by partner country, called ITCS (International Trade by Commodity Statistics).
Contacts: STD.Tradestats@OECD.org
The next release for quarterly trade data will be published in January 2004.
|
