In the second quarter of this year, trade between G20 nations have declined in value. He made it known the Organisation for Economic Co-operation and Development (OECD), Specifying that exports and imports, resulting in Value equal to 4,542.5 billion and 4,640.1 billion respectively dollars, decreased by -3.1% and -2.0% compared to the values of the previous quarter. Trend variations compared to the second quarter of 2022 are always negative is equal to to -5.7% and -6.9%.

The OECD explained that the cyclical declines reflect the weakness of global demand and the fall in the prices of raw materials, especially energy. In particular - has Clarified the organization of economic studies - the fall in prices of energy contributed to the reduction in the value of trade in North America: exports and imports in the United States contracted by -5.7% and -2.0% respectively compared to first quarter of 2023, while Canadian exports are decreased by -3.7% and imports remained stable. In European Union exports of goods have decreased to Germany and Italy, but have grown at a rapid pace, although in slowdown, in France, driven by means of transport, in particular from aeronautics. EU imports have contracted by -1.2%, again mainly due to the drop in energy prices. In the United Kingdom, exports are increased by +2.1% reflecting the significant sales of machinery and means of transport. In addition, trade in goods has been affected by a sharp contraction in East Asia: exports in China are decreased by -5.7%, partly due to the decline in sales of consumer electronics; Imports fell significantly in Japan (-8.1%) and Korea (-7.9%) due to the reduction in expenditure on the import of energy. The fall in the prices of raw materials pushed down exports to Australia and Indonesia.

As for Italy alone, in the second quarter of this year the Value of exports of goods, amounting to 171.2 billion dollars, recorded a cyclical variation of -0.7% and a trend change of +3.7%, while the value of imports marked a cyclical variation of -1.7% and trend of -9.2%.

In addition, preliminary OECD estimates indicate a clear slowdown in trade in services by G20 nations in the second quarter of 2023 compared to the first quarter of 2023. Measured in U.S. dollars, it is estimated that exports and imports, amounting to 1,472.7 billion and 1,347.5 billion respectively billions of dollars, have recorded percentage changes in +0.2% and -0.6% after strong growth of +4.5% and +8.8% recorded in the first quarter of 2023. In the second quarter of This year the trend changes in the value of the trade of services were +4.9% and +6.8% respectively.

With regard to cyclical changes, the OECD noted whereas in the second quarter of 2023 exports of services are increased by +1.0% in the USA, while imports are decreased of -1.3% mainly due to lower costs for transport and Travel. In Canada, travel and business services have provided Export boost. In Germany, travel services and enterprises have caused a decrease of -1,7% of exports while pushed imports which marked an increase in +1,0%. French imports fell sharply (-7.2%) due to lower transport and travel costs. In the Kingdom United Kingdom, exports of services decreased by -1.0%, while the imports are increased of +2.9% due to the greater purchases of financial services, intellectual property and to businesses. By contrast, trade in services has grown notably in Australia and Korea. In Australia, the main engines of export growth were travel and transport passengers, while travel, finance and ICT have pushed the exports to Korea. Imports of services into Japan are decreased by 4.2%, reflecting lower spending on services to companies, while exports increased slightly. The decline of transport revenue had a negative impact on exports of services to China (-4.4%), while imports are decreased of -1,4%.