News page

News

The external trade of the G20 countries in January-March grew for the first time in three quarters.

The external trade of the G20 countries in January-March grew for the first time in three quarters.

The volume of international trade in goods among G20 nations, adjusted for seasonal fluctuations, increased in January-March 2023 after a decline in the previous two consecutive quarters. This is stated in the report by the Organization for Economic Cooperation and Development (OECD).

The export of goods from G20 countries, in dollar terms, grew by 2.2% in the first quarter compared to the previous three months, reaching $4.68 trillion. Imports decreased by 1.2% to $4.73 trillion, mainly due to a decrease in energy prices. According to revised data, in the fourth quarter, exports decreased by 3.2% and imports by 3%.

In January-March, the United States increased its export of goods by 1%, while the European Union countries increased theirs by 3%, South Africa by 3.1%, and China by 8.6%. However, India reduced its exports by 0.4%, Argentina by 14.7%, and Australia by 1.1%.

Imports in the United States increased by 0.5%, in Argentina by 4.8%, and in Australia by 2.5%. Meanwhile, imports decreased by 6.7% in the United Kingdom, 1.1% in the European Union, and 0.7% in China, and remained unchanged in South Africa.

According to preliminary estimates, the export of services by G20 countries in the first quarter increased by 2.4%, while imports increased by 4.9%, as reported in the report. Data regarding trade in services is currently available for just over half of the G20 countries.

In the October-December 2022 period, service exports increased by 1.6%, while imports declined by 2.2%.

Established in 1961, the OECD is one of the leading economic organizations in the world, consisting of 38 member countries. The G20 includes Argentina, Brazil, Australia, the United Kingdom, Germany, India, Indonesia, Italy, Canada, China, Mexico, Russia, Saudi Arabia, the United States, Turkey, France, South Africa, South Korea, Japan, and the European Union.

Instituții:

sursa: Publicaţia periodică “Monitorul Fiscal FISC.MD”