Continuing the decreasing trend following the peak of the second quarter of 2022, also in the fourth quarter of last year the The value of trade of the G20 nations is decreased compared to the previous quarterly period. The World Trade Organization (WTO) announced today that in the period October-December 2022 the cyclical variation of exports, worth 4,573.8 billion of dollars, was of -3,5% and that of imports, which have totaled a value of 4.786,9 billion, of the -3.1%, to reflect weak demand and falling energy prices. In the last quarter of 2022, the trend change on The same period of the previous year was positive both for exports (+1.6%) and imports (+3.9%).

The WTO explained that in the fourth quarter of last year the Falling oil prices weighed particularly heavily on trade in goods in North America, with exports falling -6.7% in Canada, -5.4% in the United States and -3.1% in Mexico. On the contrary, exports of goods are increased by +0.9% in the European Union as strong sales of machinery and means of transport in Italy, France and Germany partly offset lower shipments of chemicals, and made of metal. In the United Kingdom, exports fell by -1.6%, driven by energy and chemicals. Exports and Chinese imports are decreased respectively of -7,1% and of the -2,5% given that - it has specified the WTO - the strict measures of containment of Covid-19 weighed on trade, in particular in the electronics sector. Weak demand from China has put Trade with East Asia is further strained: Korean exports fell by -8.3%, largely due to falling semiconductor prices, while exports Japanese decreased by -1.4%. Lower sales of materials first affected exports from South Africa (-9.7%), Indonesia (-7.4%) and Saudi Arabia (-14.5%).

In the fourth quarter of 2022, trade in services of the G20 declined in value. It is estimated that the exports, worth a total of $1,352.8 billion, and imports, amounting to 1,221.4 billion, recorded cyclical decreases of -0.8% and -1.5% respectively, after the decrease of -1.0% and the increase of +0.3% marked in the third quarter of 2022. In the last quarter of 2022 the changes trends in trade in services were positive and equal to +1.7% for exports and +4.6% for imports.

The World Trade Organization found that in the fourth quarter last year, with shipping costs returning to pre-pandemic levels, the value of trade in transport services has dropped significantly across the G20, while travel has continued to recover from the lows of the Covid-19 pandemic. The Exports of services recorded cyclical declines -1.5% in France and -1.7% in the United Kingdom, while imports fell at a slower pace in both countries. In Germany, exports and imports are decreased by -1.9% and -3.9% respectively, despite the high travel expenses. Italy, on the other hand, recorded an increase exports (+4.5%) and imports (+2.9%), reflecting a resumption of travel. The collapse of transport revenues and Recurrent blockades depressed Chinese exports (-12.6%). Similarly, Korean exports and imports have grown strongly contracted. In Canada, exports and imports decreased by -0.7% and -4.0%. In contrast, the United States recorded an increase in exports of +4.3%, driven from travel, transport and business services. A travel rebound has also fueled export growth to Japan (+2.9%), Australia (+5.0%) and Brazil (+2.1%).