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The unprecedented and largely synchronized drop in merchandise trade volumes of the Group of Seven (G7) countries of the last quarter 2008 continued in the first quarter 2009.
What’s driving the unprecedented collapse in global trade flows? This column shows that the magnitude of the global decline reflects greater synchronisation of trade flow declines across countries. Globalisation has brought the world in sync.
Merchandise trade volumes of the Group of Seven (G7) took an unprecedented drop in the last quarter of 2008 compared with the previous quarter.
Source: OECD Statistics on International Trade in Services, Detailed Tables by Partner Country - Annual trade in total services statistics are shown - when available - for OECD countries plus EU, Euro Area, European Union Institutions, Hong Kong, China and the Russian Federation. The data concern bilateral trade between residents and non-residents of countries and are reported within the framework of the Manual on Statistics of
Merchandise export volumes of the Group of Seven countries fell 0.2% in the third quarter of 2008 compared with the previous quarter, while import volumes rose 0.4%.
The IMF's Special Data Dissemination Standard (SDDS) website provides extensive information on current balance of payments compilation practices by most OECD Member countries and many non-member countries.
The current international standard for the compilation of balance of payments statistics is the IMF's Balance of Payments Manual, 5th edition (BPM5) published in 1993.
Reliable and up-to-date source of monthly international statistics on international trade of OECD countries. It provides a detailed insight into the most recent trends in trading patterns among OECD countries and with the rest of the world.
Statistics Working Paper N. 25 - 2008/3/REV1 - This paper provides new estimates of international trade in services for mode 3 (foreign affiliates' sales in a host country) for four major OECD countries, thanks to the harmonisation of FATS statistics with conventional international trade ones (trade recorded in the balances of payments - modes 1 and 2), using the CEPII's exhaustive CHELEM-BAL database. The results show that sales by
Standard definitions used in the OECD Database: "International Trade by Commodity Statistics".