In the last quarter of 2024, the value of trades trade of G20 nations declined, with exports and imports down by -0.6% and -1.0% respectively compared to to the previous quarter. The year-on-year change compared to the fourth quarter of 2023, on the other hand, was positive with exports and imports both grew by +1.7%.

Today the Organization for Cooperation and Development Economic (OECD) has announced that in the whole of 2024 exports of G20 goods increased by +0.7% and imports increased by decreased by -0.2% compared to 2023, while preliminary estimates indicate that trade in services continued to grow in 2014 2024 with exports and imports increasing by +8.5% and +7.4% on the previous year.

With regard to the quarterly changes recorded in the fourth quarter of 2024 by the G20 nations, the OECD has specified that exports of goods to the US have decreased -2.2% mainly due to the reduction in shipments of capital goods, including computers and aircraft, while the increased by +0.7% driven by the increase in purchases of industrial supplies, metals and gold. In Canada, the high sales of gold and other precious metals supported the growth in exports (+0.9%), while imports, mainly motor vehicles and metal products, are decreased by -4.0%. After strong growth in the quarter in the last quarter of 2024, exports in the European Union contracted by -2.6%, with lower sales of cars and components that weighed on the growth of exports for Germany, France and Italy (-1.8%). Even the EU imports of goods decreased (-2.7%), reflecting in weaker demand for pharmaceuticals and Organic chemicals in Germany and the reduction in purchases of energy in France; for Italy the drop was -2,2%. If exports to China increased by +4.3%, supported by high sales of electronics, in particular mobile phones and computers, imports fell by -0.7% and mainly those of agricultural products, such as soybeans, as well as crude oil. India recorded a strong growth in both imports and exports, with the exports up by +8.2% driven by the increase in sales of electronic products and ready-made garments.

In addition, in the fourth quarter of 2024, exports of services recorded a quarterly increase of +2.6% in the United States, with growth in most categories of services, while imports grew by +3.4% driven by Higher payments for travel, insurance and services financial. On the contrary, trade weaker than others business services weighed on exports and imports from Canada (-3.9% and -2.4% respectively). The trade in services showed a marked slowdown across the the European Union, with exports down by -4.9% in France, -2.3% in Italy and -1.5% in Germany. The Italy's imports of services fell by -7,0%. In the United Kingdom, exports of services remained stable, with the growth of other business services that has offset a decline in revenues from intellectual property, while imports have increased due to the increase in travel payments. In Asia, Japan recorded a strong increase in exports of services (+4.7%), driven by higher R&D revenues, while imports declined -3.3% reflecting a reduction in expenditure on insurance and other business services. China's Services Exports increased by +7.1% fuelled by the increase in revenues from ICT travel and services, while imports are slightly Decreased. India recorded solid growth in both exports and imports of services, both of which are increasing by +7.4%. Brazil's exports increased by +2.7%, reflecting higher revenues from travel and ICT services, while Imports decreased by -5.3%.