Merchandise trade continues to pick-up across most major economies in fourth quarter of 2013
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27/02/2014 - Merchandise trade grew in most major economies in the last quarter of 2013. Compared with the previous quarter, total imports and exports of the G7 and BRICS economies as a whole grew by 0.9% (imports) and 2.1% (export), respectively.
Export growth outpaced import growth in most major economies, including the United Kingdom (3.0% compared with 1.4% respectively), Germany (2.4% and 1.1%),the United States (1.7% and 0.4%), China (4.8% and 1.6%), Brazil (2.8% and 0.5%) and, to a lesser extent, Canada (0.7% and 0.5%).
The growth in exports was also higher than that of imports, which contracted, in Italy (1.7% and minus 0.8%) and South Africa (1.7% and minus 3.3%).
Import growth outpaced export growth in Japan (3.2% and 1.0%) and France (1.3% and 0.9%). In Russia, import growth was also higher than that of exports, which contracted (2.8% and minus 2.4%).
Exports and imports both contracted in India (minus 2.6% and minus 1.6%).
For 2103 as a whole, imports and exports of the G7 and BRICS economies were 1.1% and 2.3% higher than in 2012. Imports and exports grew strongest in China (up 8% on 2012) while they contracted the most in Japan by 6% and 10%, respectively.
Merchandise trade in US$ billion
G7 and BRICS
Seasonally adjusted data at current prices and exchange rates
Source: Statistics on International Trade Database, OECD