Strong G20 trade growth recorded in fourth quarter of 2017

Imports and Exports | | MIC Customs Solutions |

Strong growth in G20 international merchandise trade has been recorded in OECD data for the fourth quarter of 2017.

International merchandise trade among G20 nations increased for the seventh consecutive quarter during Q4 2017.

Data from the Organisation for Economic Co-operation and Development (OECD) has shown that G20 exports rose by 2.7 per cent during the final three months of the year, while imports were up by three per cent.

Within the EU, exports rose by 2.9 per cent and imports improved by 2.4 per cent, with France, Germany, Italy and the UK all seeing increases on both metrics. Exports and imports were also up in the US, Canada and Mexico, the three North American Free Trade Agreement nations.

Strong growth was also seen in Argentina, Russia, South Africa and to a lesser extent China, with only Australia and South Korea seeing a contraction, reflecting a dip from the record highs achieved in the previous quarter due to exceptional factors.

Over 2017 as a whole, G20 exports and imports grew by ten per cent and 11.5 per cent respectively compared to the previous year, suggesting a positive 12 months for businesses in leading nations.