Independent journal on economy and transport policy
06:27 GMT+1
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After a terrible April, the G20 import-export showed an improvement in May and June
The OECD has specified that initial surveys indicate that the recovery continued in July
August 27, 2020
The OECD specified that the monthly data for the second quarter reveal that the collapse in trade has occurred in April 2020 when most countries had put in place strict measures to contain the pandemic. Compared to last March, in the following Month of April exports and imports from the G20 fell -18.7% and -16.0% respectively. The OECD pointed out that, however, the May and June data point to a partial recovery from April lows in almost all G20 economies due to easing of containment measures. In addition, the data July, in economies for which they are already available this information indicates a continuation of the improvement.
The OECD also stated that China was the only G20 economy to record export growth in the second quarter of 2020 (up 9.1%) after a drop of -9.3% in the first Quarter. On the other hand, Chinese imports continued to follow the downward trend decreased by -4.9%. Australia recorded single-digit decreases in both exports (-4.4%) that of the imports (-5.6%). In Japan, exports fell by -15.2% and imports by -4.6%, while in Korea exports fell by -20.1% and imports by -10.8%.
India and Indonesia recorded particularly lows exports (30.1% and -15.9% respectively) (-47.4% and -18.5%). Exports and exports imports have fallen sharply in North America: Canada, -27.7% and -25.5% respectively; in the United States -28.2% and -14.5%; Mexico by -36.1% and -29.7%.
Similar collapses have been recorded in Europe. Exports 27 fell by -21.3% and imports by -19.0%. France, Germany, Italy and the United Kingdom saw exports -29.3%, -22.5%, -26.5% and -23.6% respectively, while imports fell by -20.4%, -15.6%, respectively, -23.3% and -25.2%. Russian exports fell by -24.6% and imports fell by -14.9%.
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The OECD specified that the monthly data for the second quarter reveal that the collapse in trade has occurred in April 2020 when most countries had put in place strict measures to contain the pandemic. Compared to last March, in the following Month of April exports and imports from the G20 fell -18.7% and -16.0% respectively. The OECD pointed out that, however, the May and June data point to a partial recovery from April lows in almost all G20 economies due to easing of containment measures. In addition, the data July, in economies for which they are already available this information indicates a continuation of the improvement.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
