Weak growth of G20 international merchandise trade in third quarter of 2018

Trade 2018

(OECD, 2018)

This article is brought to you in association with OECD.


G20 international merchandise trade, seasonally adjusted and expressed in current US dollars, grew marginally in the third quarter of 2018, on the back of rising oil prices, with G20 exports rising by 0.3% and imports by 0.7%, following the minor contractions in the second quarter of 2018.

Excluding large oil exporters, such as Russia and Saudi Arabia, G20 trade was flat suggesting that the steady expansion seen over the last two years may have stalled as recent protectionist measures begin to bite.

In the United States, exports contracted by 1.7%. Although exports grew in China (by 2.4%) – partly reflecting the exceptional sale of an oil platform to Brazil, which helped push up Brazilian imports by 18.0% – this only partially offset the significant contraction of Chinese exports (down 4.9%) in the previous quarter. Exports also contracted in the European Union as a whole (minus 0.8%), for the second straight quarter, and in Australia (minus 2.0%), Japan (minus 2.0%), South Africa (minus 0.8%), Turkey (minus 0.6%) and India (minus 0.3%).

Import growth remained weak in most countries, but picked up in large oil-importing countries such as China (4.1%) and India (4.1%), as well as Indonesia (4.9%). Imports decreased significantly in Turkey (minus 14.1%) and Argentina (minus 8.0%), in large part reflecting the continuing depreciation of these countries’ currencies against the US dollar (minus 36% for the Argentine peso and minus 30% for the Turkish lira), as well as in Saudi Arabia (minus 10.6%). Imports also contracted in Australia (minus 5.2%), Russia (minus 5.2%), Canada (minus 1.4%), Korea (minus 0.9%) and the European Union as a whole (minus 0.5%).

Advertising

Advertising

Advertising

Advertising

Advertising

Advertising

the European Sting Milestones

Featured Stings

Stopping antimicrobial resistance would cost just USD 2 per person a year

HPV vaccine: the silver bullet that saves women

Is there a chance for the West to win the war on terror?

Five years down the drain

4 things to know about the state of conflict today

Europe again the black sheep at the G20 Finance Ministers and Central Bank Governors

Towards a tobacco free India

Climate change: Direct and indirect impacts on health

MWC 2016 LIVE: Xiaomi looks to revive growth with flagships

Why Eurozone’s problems may end in a few months

Work Together to Build a New Type of International Relations and a Community with a Shared Future for Humanity

Greece to stay in the euro area but the cost to its people remains elusive

Who will secure Lithuania?

5 technologies that will forever change global trade

To hope or doubt? The state of women’s progress in the world

UN, Somali Government seek $80 million in immediate relief for flood-affected populations

How do we build an ethical framework for the Fourth Industrial Revolution?

An American duel in Brussels: Salesforce against Microsoft over Linkedin deal

Guinea President Alpha Condé: “We must tackle the root causes of migration”

VW emissions scandal: While U.S. car owners are vindicated, Europe still unable to change its laws and protect its consumers

A new catastrophic phase in the Syrian carnage

‘Two pack’ austerity package in force but with less vigor

Eurozone and Britain heading in different directions

This is what countries are doing to fight plastic waste

5 ways to net a sustainable future for aquaculture

COP21 Breaking News_10 December:#ParisAgreement: Points that remain in suspense

DiscoverEU: 15,000 travel passes up for grabs to explore the EU this summer

European Fund for Transition to support more workers made redundant

A day in the life of a refugee: the role of nations and citizens of the world

Jade Spring Meeting 2017 – day 2: Coporate workshops, general assembly and magna moment

How can we build a workforce for our digital future?

“Leaked” TTIP document breaks post 8th negotiations round silence and opens door to critics

New UN agriculture agency report underscores value of fishing in fight against global hunger

Service and Sacrifice: For Ghana, UN peacekeeping is a ‘noble opportunity to serve humanity’

The UN supports Europe’s military action in Libya and the Mediterranean; Russia and China agree

Achieving targets on energy helps meet other Global Goals, UN forum told

The Changing Scope of International Economic Relations – Chinese Leadership in the 21st Century

EU to present a “hefty” exit bill to the UK moments before Brexit negotiations

A Sting Exclusive: Towards better business opportunities for the EU and its neighbours, Commissioner Hahn live from European Business Summit 2015

These clothes grow with your child

UN’s AIDS agency ‘greatly encouraged’ by latest scientific breakthrough showing cure is possible

Counting spillovers from the fast track EU-US free trade agreement

What the car industry has done to help fight climate change – and what it needs to do next

What data dominance really means, and how countries can compete

Gig economy: Employment Committee MEPs want to boost workers’ rights

‘Crimes against humanity,’ ‘war crimes’ and risk of new ethnic violence in DR Congo, warn UN experts

Everything you need to know about the US government shutdown

The world’s e-waste is a huge problem. It’s also a golden opportunity

Trump’s blasting win causes uncertainty and turbulence to the global financial markets

French elections: by the time the EU economy revives and the migration crisis is solved extremists could take over Europe

South Sudan: UN condemns ‘brutal’ sexual assaults on roads to Bentiu

Project Manager – 2024

EU-US resume trade negotiations under the spell of NSA surveillance

Italian Prime Minister Giuseppe Conte: “Europe must listen to the people”

These coastal countries are sinking the fastest

European Union: From financial consolidation to deeper political division

Volkswagen scandal update: “We want clarity fast, but it is equally important to have the complete picture”, Commission’s spokesperson underscores from Brussels

What the global Internet’s stakeholders can learn from Europe’s new data law

Parliament backs a modernised EU electoral law

Women in Iceland have walked out of work to dispute the gender pay gap

More Stings?

Speak your Mind Here

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s