PARIS, JULY 22, 2010: THE
merchandise trade volumes for G7 countries continue to register positive growth
in the first quarter of 2010 although at a slower pace than in the fourth
quarter of 2009. According to the OECD, merchandise trade values
remain approximately 20% below pre-crisis levels in April and May.
G7
merchandise export and import volumes both grew by 3.2% in the first quarter of
2010 compared to 4.7% and 3.7%, respectively, in the fourth quarter of 2009. The
highest increases were registered in Germany and Japan, where export volumes
rose by 4.3% and 6.5%, and import volumes rose by 5.7% and 3.7%, respectively.
Export volumes grew more slowly in Canada (0.4%), the United Kingdom (1.4%) and
the United States (1.6%), where growth was also down from the fourth quarter of
2009. Growth in import volumes also slowed in all three
countries.
Balance of Payments data paint a similar picture for the OECD
as a whole. The value of merchandise exports and imports grew by 1.3% and 3.4%,
respectively, in the first quarter of 2010, down from 8.0% and 6.7%,
respectively in the fourth quarter of 2009 (not seasonally
adjusted).
Balance of Payments data for trade in services show a fall in
the first quarter of 2010 of 1.7% for exports and 1.0% for imports.
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