AS per OECD's latest report, the merchandise trade
grew strongly
across major economies in the first quarter of 2011. Total imports of G7
and BRICS countries grew by 11% in the first quarter compared to 8.2% in
the previous quarter. Total exports grew by 8.5%, compared to 8.2% in the
previous quarter.
China’s trade surplus continued to fall in the first quarter of 2011
as import growth (8.4%) outpaced export growth (3.0%). At US$ 18 billion, China’s
trade surplus in the first quarter of 2011 was less than half that recorded
in the fourth quarter of 2010, and significantly lower than the US $ 91. 2
billion surplus recorded in the fourth quarter of 2008.
In the United States, the trade deficit increased to US$ 188 billion as import
growth (11.5%) outpaced export growth (6.4%).
Import growth also outpaced export growth in Germany, Canada, France, Japan,
India, Russia and South Africa, while exports increased faster than imports
in Italy, the United Kingdom and Brazil.
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