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Total imports of G7 and BRICS countries contracted by 1% in the third quarter, compared to 4.2% growth in the previous quarter.
Merchandise trade growth slowed across major economies in the second quarter of 2011. Total imports of G7 and BRICS countries grew by only 1.1% in the second quarter compared to 10.1% in the previous quarter.
Merchandise trade continued to grow strongly across major economies in the first quarter of 2011. Total imports of G7 and BRICS countries grew by 11% in the first quarter compared to 8.2% in the previous quarter.
Merchandise trade growth quickened in the final quarter of 2010 in most major economies, with record trade figures in China.
The OECD trade deficit in goods and services with the rest of the world continued deteriorating during the second quarter of 2010, according to new balance of payments data.