Merchandise trade continued to expand during Q3 2025 in most G20 economies for which data are available, with both exports and imports recording moderate growth compared to Q2 2025. Merchandise trade in the European Union strengthened, with exports up by 3.2% and imports by 2.9%, marking the third consecutive quarterly increase. Exports rose sharply in France (6.5%) and Italy (4.5%), largely driven by aeronautical products in France and by transport equipment and pharmaceuticals in Italy. Germany saw exports and imports increase by 2.8% and 3.7%, respectively. In the United Kingdom, exports slightly decreased while imports increased markedly in aircraft and motor vehicles. In East Asia, merchandise trade showed mixed results. Korea recorded robust growth in both exports (4.8%) and imports (4.9%), supported by strong demand for semiconductors and automobiles. Conversely, Japan saw declines in both exports (-1.6%) and imports (-2.0%), with lower sales of cars and medical products weighing on export performance. In China, merchandise exports declined by 0.7%, while imports rose by 3.8% on the back of stronger demand for aircraft, integrated circuits and other high‑tech products. In the Americas, most economies with available data recorded positive growth. Partly driven by higher shipments of mechanical and electrical machinery, exports from Mexico rose by 3.3%. Argentina posted a 10.6% rise in exports, supported by agricultural and petroleum‑related products. Similarly, exports grew by 4.3% in Brazil, with imports also rising due to higher purchases of ships and boats, mineral fuels and fertilisers.
Both services exports and imports continued to grow during Q3 2025 in most countries for which data are available. Travel was a key driver of services trade in several European economies in Q3. In France, services exports and imports rose by 3.6% and 5.2%, supported in part by stronger travel and business services. In Germany, services exports increased by 1.0% on the back of higher travel receipts, while imports fell by 0.7%. In Italy, services exports posted a slight rise and imports grew by 3.0%, partly driven by increased travel spending abroad. The United Kingdom saw both exports and imports rise, with higher revenues from intellectual property services supporting export growth. Services exports fell sharply in Japan (-5.8%), driven by plummeting travel receipts and lower revenues from financial and other business services. Conversely, services exports surged in Korea (up by 6.1%), on the back of higher travel receipts, and China (up by 6.2%), supported by travel, construction, intellectual property, and other business services. India and Brazil also recorded strong services trade growth, with exports rising by 2.0% and 4.3%, respectively.
Figure 1 – International trade, selected economies, Q3 2025 (quarter-on-quarter changes)
Percentage change on the previous quarter, current US dollars, seasonally adjusted
Figure 2 – G20 international trade (quarterly levels)
Current prices in billion US dollars, seasonally adjusted
Methodology
Release dates
- Next release: February 2026
- All release dates
Contact us
For further information, journalists are invited to contact the OECD's Media Relations Division on (33) 1 45 24 97 00; others should contact the Statistics and Data Directorate.
