THE global economy is witnessing a slowdown with shrinking trade and commerce across natios. As per a recent OECD Report, it is indicative of ill health of economies.

In the second quarter of 2012 merchandise trade slowed in major European economies (France, Germany, Italy & the UK), India, Russia and South Africa.

While Imports and exports fell in India, exports in China grew by 12.8%, the highest rate since the first quarter of 2007, subsequent to two consecutive quarters of contraction but imports grew by a restrained mere 2.5%.

Imports also contracted in Canada (by 0.3%) and the United States (by 0.5%) but exports in both countries showed moderate growth (by 0.6% in Canada and 1.1% in the United States). Japan too registered an increase in imports and exports (by 0.4% and 1.6%) but growth in imports decreased considerably since the second quarter of 2009.