G20 trade growth accelerates to highest pace in six years

Imports and Exports | | MIC Customs Solutions |

G20 merchandise trade growth accelerates to its fastest pace in six years during Q3 2017, according to the latest OECD data.

International trade growth among G20 nations experienced a strong acceleration during the third quarter of 2017, new data has shown.

The latest figures from the Organization for Economic Co-operation and Development (OECD) have indicated that imports and exports of merchandise both rose by 4.3 per cent during Q3, which represented the highest rate of growth since the first half of 2011.

In the EU, exports were up by 7.4 per cent and imports rose by 7.3 per cent - their fastest rates since Q4 2010 - with strong export growth also seen in leading Asian nations, such as

India, Indonesia, South Korea and Japan.

Export growth also improved more moderately in Mexico and the US, although China and Canada experienced slight contractions during the period. Moreover, all G20 economies - except Argentina, Indonesia, South Korea and Russia - saw their currencies appreciate against the US dollar.

Although the G20 region's total international trade levels remain around five per cent below the highs they reached in 2014, exports and imports are now both significantly up above the low points hit in the first quarter of 2016.