AS per OECD data, the merchandise trade slowed in most major economies during the second quarter of 2013. Compared with the first quarter of 2013, the value of merchandise imports and exports for the total of G7 and BRICS countries decreased by 1.4% and 1.8%, respectively.

Compared with the previous quarter, merchandise imports and exports contracted in the second quarter of 2013 in most major economies: in Germany (by 1.5% and 2.0%, respectively), France (by 3.1% and 0.5%), Italy (by 3.8% and 3.1%), Japan (by 3.0% and 0.4%) , Canada (by 1.1% and 0.3%), the Russian Federation (by 4.6% and 1.8%) and India (by 4.5% and 8.1%).

Imports grew and exports contracted in China (by 1.4% and minus 3.4% respectively) and in Brazil (by 0.2% and minus 4.6%). In contrast, exports increased and imports contracted in the United States (by 0.5% and minus 1.7%, respectively) and in South Africa (by 3.8% and minus 2.9%).

The United Kingdom was the only economy with some, albeit moderate, growth in both imports and exports in the second quarter of 2013 (0.1% and 1.4%, respectively).