AS per OECD's latest data the merchandise
trade grew in
most major economies in the last quarter of 2013. Compared with the previous
quarter, total imports and exports of the G7 and BRICS economies as a whole
grew by 0.9% (imports) and 2.1% (export), respectively.
Export growth outpaced import growth in most major economies, including the
United Kingdom (3.0% compared with 1.4% respectively), Germany (2.4% and 1.1%),
the United States (1.7% and 0.4%), China (4.8% and 1.6%), Brazil (2.8% and
0.5%) and, to a lesser extent, Canada (0.7% and 0.5%).
The growth in exports was also higher than that of imports, which contracted,
in Italy (1.7% and minus 0.8%) and South Africa (1.7% and minus 3.3%).
Import growth outpaced export growth in Japan (3.2% and 1.0%) and France (1.3%
and 0.9%). In Russia, import growth was also higher than that of exports, which
contracted (2.8% and minus 2.4%).
Exports and imports both contracted in India (minus 2.6% and minus 1.6%).
For 2103 as a whole, imports and exports of the G7 and BRICS economies were
1.1% and 2.3% higher than in 2012. Imports and exports grew strongest in China
(up 8% on 2012) while they contracted the most in Japan by 6% and 10%, respectively.
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