AS per OECD study, merchandise trade grew moderately in most major
economies in the first quarter of 2012. Total imports and exports of G7 and
BRICS grew by 1.0% and 0.6% respectively. In contrast, trade slowed sharply in
China, with exports contracting (by 4.2%) for the second consecutive quarter and
imports contracting (by 3.8%) for the first time since the first quarter of
2009.
Imports and exports grew in Germany (by 0.9% and 1.8% respectively),
Japan (by 1.5% and 2.1%), the United Kingdom (by 2.7% and 1.6%), the United
States (by 4.0% and 2.0%), India (by 5.7% and 5.9%) and South Africa (by 6.3%
and 4.8%).
Import growth was flat in France and contracted (by 3.2%) in Italy but
exports rose in both countries (by 0.7% and 1.3% respectively). Imports grew
(2.4%) in Canada but exports decreased (-0.3%) for the second consecutive
quarter. Exports also declined in Russia (by 0.7%).
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