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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.
Trade is essential to global economic recovery, says Professor Jagdish Bhagwati in this interview with OECD. He also challenges the fear that trade 'takes' jobs from developed countries, pointing out that firms from developing countries are now creating jobs in richer economies.
Societies can benefit more from open trade, if this openness is accompanied by labour market and employment, said OECD Secretary-General at the Global Forum on Trade.
OECD papers on trade and environment, free to access and download, on how trade affects the environment and how environmental concerns affect trade, covering a wide range of issues and countries.
"At the end of the day, this is what the G20 is about: its “raison d’être” is to show leadership and equip the global economy with an efficient framework for policy coordination. And trade in raw materials and in food commodities should be no exception to this.", said M. Gurría.
Exchange rate levels affect trade flows in agriculture and in the manufacturing and mining sector in China, the Euro area and the United States, though they do not explain in their entirety the trade imbalances in these three economies, this paper finds.
This Inventory provides reliable and comparable data on support or tax expenditures for fossil fuel production or use in OECD countries. Reforming fossil fuel subsidies can contribute to achieving economic and fiscal objectives, while also tackling environmental problems like climate change.
Governments and taxpayers spent about half a trillion dollars last year supporting the production and consumption of fossil fuels. Removing inefficient subsidies would raise national revenues and reduce greenhouse-gas emissions, according to OECD and IEA analyses.
Government support to agriculture in OECD countries fell to 18% of total farm receipts in 2010, a record low linked to high commodity prices, but has been rising in large emerging economies, according to a new OECD report.
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.