Africa-Press – Angola. International trade in goods by G20 countries fell during the third quarter of 2022 for the first time in two years, the Organization for Economic Cooperation and Development (OECD) said in a statement this Tuesday.
The international organization reports a global drop of 1.3 percent in merchandise exports and 1.1 percent in imports compared with the second quarter, which it attributes in part to declining demand and falling prices for many raw materials.
The drop in exports is slightly greater in the European Union (EU) as a whole, with 1.5 percent less in sales abroad and an increase of 0.7 percent in imports.
The United Kingdom, with a growth of 0.8 percent, and France, with 1 percent, were spared in the drop in exports in Europe.
On the Asian continent, only China and Indonesia managed to increase exports (by 0.7 percent and 0.5 percent respectively), while countries such as Japan and South Korea followed the downward trend of the G20.
In America, Mexico and the United States recorded even greater increases (2.6 percent and 1.7 percent) compared to the previous quarter.
In total, this decline means 60,600 million dollars less in merchandise exports compared to the second quarter of 2022 in the G20 as a whole, 27,600 million dollars in the EU alone.
“These latest developments in merchandise trade deserve to be closely monitored, as the global economy faces multiple headwinds, namely a tighter monetary policy, lower commodity prices and a slowdown in demand”, said the director of OECD statistics, Paul Schreyer.
On the other hand, the growth of trade in services slowed down in the G20: exports increased by 0.3 percent and imports by 1.7 percent, less than in the previous quarter (1.3 percent and 2.3 percent respectively).
This slowdown trend was particularly pronounced in France, which recorded the first decline in exports (-1.6 percent) since the second quarter of 2020, at the height of the pandemic.
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