In the second quarter of 2021, the value of international trade of the G20 reached a new high

The OECD specified that, as well as in the quarter the previous, also in the period April-June of this year the increase of the prices of raw materials largely explains the increase in the value of trade exchanges in the G20 area given that congestion the problems of supplying international maritime transport Semiconductors have put additional pressure on the price of traded goods.

In the second quarter of 2021, the G20 economies plus dependent on exports of essential raw materials have recorded strong export growth, with a combination of rising prices, a limited global supply (e.g. copper) and high demand (particularly from China, Japan and Korea). The Australian exports increased by +10.0% in the second quarter of 2021, in the wake of the increase in sales of cereals, metals and coal. Brazilian exports are increased by 29.4%, driven by iron ores and soybeans. The Russian exports grew by +30.7% benefiting mainly the rise in energy prices.

With regard to North America, in the second quarter of this year the value of trade in goods reached its highest historical. Canada's exports increased by +4.7%, driven by energy and forestry products and imports are increased by +3.6%, largely thanks to metals and products Pharmaceutical. Mexico also experienced solid growth in the quarter: exports increased by +3.3% and imports of +5.1%. The United States recorded a +6.8% growth in aircraft-driven exports, pharmaceuticals and semiconductors and with high demand from Canada and Mexico, while imports increased by +4.2%, thanks, among other things, to the high value of phone imports mobile phones and despite the stagnant market of the sale of Cars.

In the period April-June 2021, the European economies of the G20 have seen their international trade increase in In particular, in the field of aeroplanes, agricultural products and pharmaceutical products, fuelled in particular by demand from China and the United States. In particular, the European Union recorded an export growth of +2.8% and a import growth of +5.7% (France +1.3% and +2.9%, Germany +1.3% and +6.3% and Italy +4.0% and +6.4%). In the United Kingdom, the exports increased by +12.3% and imports by +11.3%, with a decisive rebound after the slowdown of the previous first trimester.

The rise in commodity prices is was a factor for which in the second quarter of 2021 the imports have increased faster than exports to the G20 economies of East Asia. The exports from Japan and Korea grew by +2.7% and +2.2%, while imports increased by +7.4% and +11.8%, with trade in vehicles and components that has led the increase especially for Korea. The OECD has highlighted finally, after the incredible growth (+18.6%) of the quarter in the second quarter of this year exports Chinese fell by -2.5%, while imports fell by -2.5%, while imports continued to expand (+10.9%), with strong purchases of products agricultural, metals and semiconductors.