| Untitled Document
AS per latest OECD data, merchanise trade growth slowed
strongly in most major economies in the third quarter of 2011. Total imports of
G7 and BRICS countries contracted by 1% in the third quarter, compared to 4.2%
growth in the previous quarter. Total export growth slowed to 1%, compared to
4.6% in the previous quarter.
Merchandise trade contracted in all major European economies, with falls
in both exports and imports recorded in Germany, France, the UK and Italy. In
the United States, imports contracted by 2.7% and export growth slowed to 2.5%,
compared to 3.6% in the previous quarter. Export growth in China slowed sharply
to 3.2% compared to 10.1% in the previous quarter while import growth
accelerated slightly to 2.8% compared to 0.9% in the previous quarter.
In Japan merchandise trade increased strongly partly due to a technical
rebound after the earthquake disaster. Exports also grew strongly in Canada but
import growth stalled. Merchandise trade also stalled in Brazil, India, Russia,
and South Africa.
|
