G20 merchandise trade in Q2 2016 shows first modest growth since early 2014 | WPN World People News

G20 total international merchandise trade, seasonally adjusted and expressed in current US dollars, grew modestly, in the second quarter of 2016, the first increase since early 2014, but remains significantly below post-crisis highs. Exports rose by 1.5% and imports by 2.0%, following seven and eight consecutive quarterly falls, respectively, mirroring the rise in oil prices (to almost $50 a barrel in June 2016, compared with around $35 a barrel in December 2015).

Exports in Q2 2016 grew in almost all G20 economies except Argentina, Canada and China. For Canada, exports have fallen for seven consecutive quarters, and now stand at their lowest level in over six years. India, South Africa and Turkey on the other hand, all recorded export growth of more than 5.0% in Q2 2016, although like in all other G20 economies, export levels remain around 15% below post-crisis highs.

All G20 economies recorded growth in imports in Q2 2016, except Argentina, France, India, Indonesia, Mexico, with marginal falls, and Russia, where imports fell by 5.0% in Q2 2016. China recorded 6.6% growth in imports in Q2 2016 but levels remain around 20% below recent highs.

Source: Organization for Economic Co-operation and Development