Independent journal on economy and transport policy
13:40 GMT+1
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The G20 economies were hit hard by the pandemic in the first quarter
Further deterioration in April
May 28, 2020
The OECD pointed out that in the first quarter of 2020, the impact international trade between the G20 economies is changed significantly from country to country due to significant differences in the rate of coronavirus spread, pandemic containment strategies and within the reach of the compared to other countries whose economy is been hit by the blocks.
In particular, France, India, Italy and the United Kingdom, which March have all introduced nationwide blockades, they have seen their exports fall by -7.1% respectively, -9.2%, -4.9% and -7.8% while imports fell by -7.0%, -2.3%, -5.6% and -6.5%. German trade has gone slightly better than other economies in the European Union G20, with exports and imports falling -3.5% and -2.4%.
In China, exports fell by -9.3% and imports of -7.0% in the first quarter of 2020, while in Japan exports fell by -4.0% and imports fell -4.4%. The trade showed a better hold in Korea than South, where exports increased by 3.3% while exports imports decreased by -1.2%, although with a considerable volatility during the quarter reflecting the disruption Asian supply chains following the outbreak initial outbreak in China.
In addition, Australian exports fell by -3.7%, reflecting a reduction in demand from partners Asian. Russian and Saudi exports have declined, -9.9% and -10.2% respectively, as a result of the collapse in prices oil prices.
In relation to the Americas, Canada and the United States, exports fell by -4.2% and -1.9% respectively, but Mexico's exports have increased slightly 1.0%. Brazil, which in the first quarter of this year been initially less exposed to the pandemic than most other G20 economies, has reversed the trend exports and imports slightly higher 0.9% and 2.8%.
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The OECD pointed out that in the first quarter of 2020, the impact international trade between the G20 economies is changed significantly from country to country due to significant differences in the rate of coronavirus spread, pandemic containment strategies and within the reach of the compared to other countries whose economy is been hit by the blocks.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
