Independent journal on economy and transport policy
11:26 GMT+1
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G20 economies' international trade rose sharply in the third quarter
In October, however, there were signs of new pressure on trade
November 26, 2020
Regarding the third quarter of 2020, the OECD specified that exports and imports have experienced a strong recovery in North America compared to the previous quarter: in Canada, +31.1% and +32.3% respectively; in the United States of the +23.6% and +18.5%; and mexico by +50.2% and +18.5%. Despite these positive developments, North American trade is remained below pre-pandemic levels. Europe has a similar rebound: exports in the EU are increased by +27.4% and imports by +22.4%, with exports to France, Germany and Italy that have increased +35.9%, +28.2% and +40.8% respectively, and imports of +30.7%, +17.8% and +29.8%. In the United Kingdom, exports are increased by +23.8% and imports by +31.0%. In Russia, despite a sharp increase of more than +40% in crude oil prices, trade increased more moderately, with exports up by +10.6% and imports up by +7.0%. In Brazil and Japan, for the third consecutive quarter, imports decreased (-8.9% and -5.3% respectively) and the exports, although they experienced moderate growth (of +1.6% and +11.6%), remain -7% and -6% below levels pre-pandemics.
Among the G20 economies, only China has seen a recovery (exports up by +9.6% and imports of the +13.7%) above pre-pandemic levels, with the trade in personal protective equipment that has contributed, in particular, to the particular, to push third quarter of 2020 exports chinese at a record level.
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Regarding the third quarter of 2020, the OECD specified that exports and imports have experienced a strong recovery in North America compared to the previous quarter: in Canada, +31.1% and +32.3% respectively; in the United States of the +23.6% and +18.5%; and mexico by +50.2% and +18.5%. Despite these positive developments, North American trade is remained below pre-pandemic levels. Europe has a similar rebound: exports in the EU are increased by +27.4% and imports by +22.4%, with exports to France, Germany and Italy that have increased +35.9%, +28.2% and +40.8% respectively, and imports of +30.7%, +17.8% and +29.8%. In the United Kingdom, exports are increased by +23.8% and imports by +31.0%. In Russia, despite a sharp increase of more than +40% in crude oil prices, trade increased more moderately, with exports up by +10.6% and imports up by +7.0%. In Brazil and Japan, for the third consecutive quarter, imports decreased (-8.9% and -5.3% respectively) and the exports, although they experienced moderate growth (of +1.6% and +11.6%), remain -7% and -6% below levels pre-pandemics.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
